How does First Progress Platinum Elite Mastercard work?

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Undoubtedly, one of its main benefits is being approved without having a good credit score. Generally speaking, cards that do not have approval requirements are intended specifically for people with poor scores, while cards with more benefits are intended for people with higher scores.

However, the First Progress Platinum Elite Mastercard, in addition to not checking your credit history, offers other benefits such as:

• Fast card delivery.
• Reports to the 3 major credit agencies every month.
• Offers smartphone app, with 24/7 access.
• Access your score in real time.
• Reduced annual fees.

All these features make the First Progress Platinum Elite Mastercard an excellent choice for anyone looking to build a good credit history or improve their credit score by reorganizing their financial life.

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APRs and fees for this credit card

Despite all these advantages, there are some fees charged that should be taken into account:

• $29 annual fee;
• 20,24% variable APR;
• 3% foreign transaction fee;
• $40 late payment fee;
• 25,24% variable APR for cash advances;
• 3% or $10 cash advance fee for each transaction;
• $29 returned payment fee;
• $1 request fee for copies of billing statements.

Who should get a secured credit card?

Before choosing your credit card, you need to know exactly what your needs and goals are. Secured credit cards such as First Progress Platinum Elite are not the most recommended for the long term, as their benefits are designed exclusively for those who want to build a credit score and reorganize their financial life.

If you achieve this, First Progress does not offer other types of cards, which means that you will not be able to upgrade in the future, even if you pay all your debts on time. Therefore, it is a credit card indicated only to meet the needs in question.

Also, it does not offer cashback programs or rewards to offset fees charged. And these reasons lead us not to recommend this card for a period longer than necessary.

As your score improves, start looking for other types of cards with higher perks and rewards programs. It is worth mentioning that there are three different types of First Progress credit cards aimed at people with credit scores:

• First Progress Platinum Elite Mastercard;
• First Progress Platinum Select Mastercard;
• Primeiro Progress Platinum Prestige Mastercard.

In general, they offer very similar benefits and features, differing only in annual fees and interest rates, which are inversely proportional. That is, the First Progress Platinum Elite Mastercard has the lowest annual fees but the highest interest rates. Which is best for people who don’t plan on keeping a balance.

Who is eligible for First Progress Platinum Elite and how to apply?

First Progress Platinum Elite does not perform any type of credit score or credit history checks, making any US citizen eligible for a credit card, including new arrivals.

If you want to build a credit history or are experiencing a financial problem, such as bankruptcy, and need to get back on your feet financially, First Progress Platinum Elite is a great option.

The application process is also quite simple and quick. All you need to do is fill out a form on the official First Progress website and wait until you receive your email approval – which usually takes a few minutes.

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