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First Progress Platinum Prestige Mastercard Review - No Credit Checks
REVIEW

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Picture of First Progress Platinum Prestige Mastercard® Secured Credit Card
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By : Mr Credit Card

 

  • Annual Fee = $49
  • Regular APR = 9.9%
  • Credit Limit = $200 - $2,000 secured by security deposit
  • No Credit Checks
  • Mobile App for Android Users
  • Free Vantage Score from Experian
  • Not available to residents of NY, IA, AR, or WI

 



 

At A Glance

The First Progress Platinum Prestige Mastercard is a secured credit card that offers a very low APR and does not perform any credit checks when you apply. You will definitely get approved for this card as long as you fund your security deposit and your security deposit amount is less than the difference between your income and expenses (which you have to fill in the application form). It is ideal for rebuilders who have just emerged from bankruptcy, or who have been denied many other cards and cannot afford another hard pull on their credit report.

 



 

Card Details

Annual Fee $49
Regular APR 9.99%
Foreign Transaction Fee 3%
Security Deposit and Credit Limits $200-$2,000


Other key features of the First Progress Prestige include

  • Free Vantage Score from Experian - all cardholders get a free monthly Vantage score and credit monitoring service from Experian.

  • Reports to all three credit bureaus - First Progress Platinum Prestige reports to Experian, TransUnion and Equifax (the 3 major bureaus) so if you pay on time, this card will help you to build or rebuild your credit.

  • Android App Available - First Progress has an app for Android devices. Apple IOS app is still in the works.

 



 

First Progress Compared To Other No Credit Check Cards

Card Annual Fee Regular APR Min Deposit
First Progress Prestige $49 9.99% $200 - $2,000
First Progress Select $39 13.99% $200 - $2,000
First Progress Elite $29 19.99% $200 - $2,000
Applied Bank $48 9.99% $200 - $5,000
Opensky $35 17.39% $200 - $3,000
Go2Bank $0 See Website $100
Chime $0 N.A. - Pay in full No min or max
Self $25 23.24% $100


There are two main characteristics that stand out for the First Progress Platinum Prestige Card. There first is that there are no credit checks when you apply and the second is that the regular purchase APR is very low at 9.99%. Though there are many secured credit cards available in the market, we should compare this card with those that does not perform any credit checks and if possible, those with low APR as well.
 

Compared to Traditional No Credit Check Secured Credit Cards

There are a few traditional secured credit cards that do not perform any hard inquiries when you apply. The first is the Opensky Secured Visa. Compared to the First Progress Prestige, the Opensky has a low annual fee (at $35 vs $49), but a higher regular APR. Both the Opensky and First Progress are very well known in the rebuilder community and choosing one over the other is a trade off between annual fee and APR.

Another card to compare to is the Applied Bank Secured Credit Card. They both have low APR at 9.99% and their annual fee is also very similar ($48 for Applied Bank vs $49 for First Progress Prestige). Both also allow you to fund their security deposit without a checking account. However, the First Progress Prestige is better because the Applied Bank Secured Card has no grace period. So interest accrues when you make a purchase on the card. In contrast, First Progress has a standard 25 day grace period.

First Progress has a couple of other secured credit cards, namely the Elite and Select version. Both these cards have lower annual fees but higher APRs than the Prestige. So once again, it is a trade off between these two features.
 

First Progress Compared to New Fintech Secured Cards

There are a few new secured credit cards launched by Fintech startups that have no credit checks and also no annual fees. However, you are required to either open a mobile banking account and set up direct deposit with them or open a credit builder account.

For example, the Self Secured Visa has no credit checks and no annual fee. You can get it once you have "saved" enough money in your credit builder account.

There are other secured credit cards like Chime Secured Visa, GO2bank Secured and Sable One Secured Credit Card that require you to set up a mobile banking account with them. Chime and GO2bank also require that you set up a recurring direct deposit with them. Having said that, once you have met this hurdle, there is no credit check if you want their secured credit card and they have no annual fee as well.

 



 

Pros: What We Like

  • Low APR - The purchase APR of 9.99% is very low regardless for any credit card. This is very helpful for those who carry a balance occasionally

  • No Credit Checks - First Progress does not perform any credit checks or hard inquiries. Therefore you will definitely be approved and get your card as long as you fund your security deposit.

  • Those with Discharged Bankruptcy Can Apply and Be Approved - If you have a discharged bankruptcy record on your credit report, First Progress will still approve you.

  • Free Vantage Score from Experian - You will get a free Vantage score from Experian which is updated monthly.

  • Mobile App - First Progress has a mobile app available for Android devices.

 



 

Cons: What Do Do Not Like

  • Charges Annual Fee - Most secured credit cards used to charge an annual fee. However, an increasing number are now not charging annual fees. The $49 annual fee is also slightly on the high side compared to other secured credit cards>

  • Mobile App only available on Android - Unfortunately for you Apple iPhone IOS folks, First Progress only has their app available on Android devices. IOS app is still work in progress at the moment.

 



 

First Progress Prestige - Very Low APR

The First Progress Platinum Prestige Secured Mastercard is one of the rare credit cards with very low regular purchase APR at 9.99%. Best of all, First Progress does not perform any credit checks or hard inquiry so those of you with no credit history or rebuilders with bad credit will be approved as long as you fund your security deposit and the security deposit amount is less than the difference between the stated income and expenses that you will fill in the application form. Even those of you who have just been discharged from bankruptcy can apply and be approved.

It has some other nifty features that will appeal to most of you. They have an android app and provide credit score and monitoring service from Experian.

To sum up, the First Progress Platinum Prestige Mastercard is one of the best traditional secured credit cards for rebuilders who have been denied other credit cards and cannot afford another hard inquiry. It will also appeal to rebuilders who want a credit card with a low regular APR to occasionally carry a balance. If this describes you, then you should definitely consider this card.

 



 

How to Apply?

The First Progress Prestige application process is really easy. You simply fill in your name and email address, address, one phone number, financial information like your estimates income and expenses, the amount of security deposit you want to put up, your social security number, date of birth and a password for your First Progress account. You can use Federal or state benefits, unemployment benefits and social security benefits as income. Then you simply have to tick off all of the check boxes and agree to the terms and conditions.

first progress prestige application first progress prestige application first progress prestige application first progress prestige application first progress prestige application first progress prestige application first progress prestige application first progress prestige application

There are 3 ways to fund First Progress secured credit cards. You can fund it with a bank debit card or prepaid credit card or with a ACH transfer from your checking account. If you apply from your mobile phone (as you are doing now), funding your account via checking account is not available.

first progress prestige fund deposit

If you decide to fund with your debit or prepaid credit card, then all you need is to provide your debit card number and three digit security code.

first progress prestige fund deposit

First Progress also offers you the option to get your card in the mail first and then fund later. If you choose this option, you are given up to 90 days to fund your account. But you have to pay a $29.95 fee. If you are really paranoid about wanting to have the card in your hand before you part with your security deposit, then choose this option.

first progress prestige fund deposit first progress prestige fund deposit

 



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Contact Information

First Progress Card
P.O. Box 9053
Johnson City, TN 37615-9053