If you can’t qualify for one of the top-tier cards from a major bank, First Progress Platinum Prestige Secured MasterCard is a good backup plan. Also, this Card is ideal for those with bad credit or who need to establish credit for the first time. You have to be a US resident to qualify for the card.First Progress Platinum Prestige Secured MasterCard is issued by Synovus Bank and the issuer reports your payment history to all three major credit bureaus.
This is necessary because, without this reporting, your credit history won’t improve. Overtime, you will be able to get approved for credit cards with better rewards program.
First Progress Platinum Prestige Secured MasterCard Rates and Fees
APR For Purchases
You get a variable rate of 11.99%
Balance Transfers
Not applicable
APR for Cash Advances
You get a variable 18.99 percent APR. Plus, a three percent transaction fee. Interest on a cash advance begins immediately.
Penalty Rate
There is no penalty rate; you also get a 25-day grace period, so you don’t have problems making on-time payments.
Annual Fee
$44
Foreign Transaction Fees
The fee is 3%
Other Fees
Late payment fee applies, this is up to $25 (up to $35 if you’ve been late during the preceding six months), expedited phone payment is $10, returned payment fee is up to $25, and more.
Security Deposit & Credit Limit
Your security deposit must be a minimum of $300 and a maximum of $2,000. Your credit limit can be increased with the issuer’s approval. The maximum limit that can be obtained over time is $5,000.
Note: You earn no interest on the deposit.
How to Apply for the First Progress Platinum Prestige Secured MasterCard
Requirements
For the application process to be successful you must meet the following requirements:
- Be at least 18 years of age or older
- Be a resident of the United States of America
- Have a valid Social Security Number
How to Apply
- Firrstly, visit the application homepage of First Progress Platinum Prestige Secured MasterCard and tap on the “Click Here to Apply” link
- Secondly, Review the terms and conditions
- Thirdly, fill in the following information in the provided fields:
First name
Last name
Address
City
State
Zip code - Fourthly, Fill in the following contact information in the field provided:
Home phone number
Mobile number
E-mail address
Re-enter e-mail address - Next, Tap “Yes” or “No” to whether you consent to the Electronic Communications Agreement.
- Also, Fill in the following security information in the fields provided
Date of birth
Social security number
Re-enter social security number
Security passphrase - Lastly, Tap the “Click Here to Continue” to finalize the application process.