First Progress Platinum Select Mastercard® Secured Credit Card
REVIEW

Key Features

I want to highlight the main features of the First Progress Select Card that makes it attractive.

Invitation to apply for unsecured credit card after paying first 6 bills on time

First Progress Elite has partnered up with First Digital and will invite cardholders to apply for the First Digital Mastercard if they pay their first 6 bills on time. This provides a path to "graduate" or "move up" from a secured to an unsecured credit card. Though approval is not guaranteed, the fact that there is a partnership suggest that the odds are much better if you have the First Progress Elite and have been paying on time rather than just taking the chance and applying without first rebuilding your credit with First Progress.

No Credit Checks or Hard Inquiries

First Progress is one of the few secured credit card issuers that do not perform any credit checks or hard inquiry. You will be approved and you will receive your card as long as you fund your security deposit. The amount of the security deposit has to be less than the difference between your income and expenses (which you will be asked to fill out in the online application form).

You will even be approved even if you have a prior discharged bankruptcy that is still on your credit report. However, if your bankruptcy is still pending and not yet discharged, you will not be approved and you should wait until you are discharged before applying for this card.

Cash Back Program

First Progress also has a cash back program and here is how it works. Rather than earning cash back when you spend on your card, you will earn 1% cash back on your card payment. At the end of the day, it is still a 1% flat rate credit card. You can earn unlimited cash back and they do not expire.

Technically speaking, you will earn reward points. For example, if you monthly bill is $100 and you pay in full, you will earn 100 points. 100 points is equal to $1 in cash back earned (ie $1/$100 = 1%). The cash back can be redeemed for statement credits only. There are three ways to redeem your cash back. Firstly, you can redeem them online via the custome center portal at cc.firstprogress.com. You can also redeem them via your mobile app or calling customer service. You need to redeem them at 500 points increments.

Credit Limit MAY Increase Without Need For Additional Security Deposit

As the First Progress is a secured credit card, you must first deposit an amount initially when you apply for the card and this sets your credit limit. You can deposit between $200 to $2,000. If you wish to add to your initial security deposit to increase your credit limit, you need to get approval from First Progress. You cannot simply add more money to your security deposit as and when you wish. This is actually quite a standard practice in the secured credit card industry.

But hidden in the terms and conditions is a clause that says that First Progress may increase your credit limit without needing any additional security deposit and that your total credit limit on the card could be as high as $5,000. Here is the precise language:

We may choose to increase your credit limit without requiring you to add to the Deposit Account. Any Increases in your credit limit are subject to credit approval. The maximum credit limit you can obtain over time is $5,000.

Get Card Before You Fund Your Security Deposit

Most secured credit cards require you to fund your security deposit via your checking account before they send or mail out your card. First Progress gives you the option of physically receiving your card first and then funding it later. This will cost you $29.95 but is an option for those of you who are not comfortable sending in your deposit before you receive your card.

Free Vantage Score from Experian

All cardholders get a free monthly Vantage score and credit monitoring service from Experian.

Things to Be Aware of

As much as I really like this card, there are a few things that you have to be aware of.

Annual Fee is Billed on the first statement

The annual fee is billed on your first statement and that will reduce your credit availability for that month until you pay off the monthly bill. Some people are not aware of this and get frustrated. However, this is a pretty standard industry practice. What is more important is that you pay your first months bill even if there is a delay in your card arrival. This is not only to avoid any late fees but since First Progress has partnered with First Digital to offer you an unsecured credit card if you pay your first 6 bills on time, it is imperative that you pay off the first bill even though you may not have charged anything to the card yet.

Understand Your Options to Pay

There are three ways that you can pay your First Progress bills.

Checks and Money Order - If you pay via check or money order, it will be process the same day it is received as long as the check arrives before 5pm EST. If you pay by check or money order, just make sure you give it enough time for the Post Office to deliver.

Pay Electronically via Your Banks Bill Pay - If you choose pay your bill online, you have to use your own bank's Bill Pay. Most of you will not have an issue with this but some of you may because your bank's Bill Pay charges a fee. If you pay with your Bank's Bill Pay, First Progress may take up to 5 business days to process the payment. Therefore to be safe, it is best to pay at least 6 days before the due date if you choose this method.

Expedited Payment over the Phone - You can also pay over the phone but it will cost you $10.

No Autopay at the moment - One thing to be aware of is that at this moment, First Progress has no autopay available to their cardholders.

Cannot pay via Mobile App - At this moment, you cannot pay your bills through the mobile app.

First Progress Select Compared To Other No Credit Check Cards

Card	Annual Fee	Regular APR	Min Deposit	Cash Back
First Progress Select	$39	18.49%	$200 - $2,000	1%
First Progress Prestige	$49	14.49%	$200 - $2,000	1%
First Progress Elite	$29	24.49%	$200 - $2,000	N.A.
Opensky	$35	21.64%	$200 - $3,000	N.A.
Go2Bank	$0	See Website	$100	N.A.
Chime	$0	N.A. - Pay in full	No min or max	N.A.
Self	$25	23.24%	$100	N.A.

As First Progress does not check your credit score when you apply, we will compare this card with other secured credit cards that also does not check your credit score. First Progress also has two other cards which we have to compare it with.

Compared to Traditional No Credit Check Secured Credit Cards

The most well know no credit check secured credit card is the Opensky Secured Visa. Opensky is very similar to First Progress in many ways. Like First Progress, they do not perform any credit checks.

They also offer a pathway to an unsecured credit card but do it a little differently from First Progress. Unlike First Progress, Opensky has their own unsecured credit card called the Opensky Gold Card. It has a $35 annual fee and a starting credit limit of $500, which appears a little more attractive than First Digital Mastercard (which First Progress has partnered with). Opensky says they "may" pre-approve and offer you their unsecured credit card "as soon as 6 months". In contrast, First Progress is more definitive and will invite you to apply for the First Digital credit card when you have paid 6 monthly bill on time consecutively.

Opensky may also increase your credit limit without the need for additional deposit. This is a feature that First Progress also have though not many people know about it because it is written in their terms and conditions and not widely talked about. The First Progress Select Mastercard has a 1% cash back rewards program which Opensky does not have.

One important difference between these two cards involves their payment system. First Progress is more limited in the ways you which you can pay your bills. With First Progress, you can pay by check or money order, online from your bank's Bill Pay or over the phone (with a $10 charge). First Progress does not have autopay and you cannot pay your bills from your mobile app. In contrast, Opensky allows you to set up autopay and you can also pay your bills via your mobile app.

Compared to other First Progress Secured Credit Cards

First Progress has three secured credit cards under the First Progress brand. The three cards have different annual fees and APR. The "Select" version falls in the middle in terms of annual fee and APR (see comparison table above).The First Progress Platinum Prestige Mastercard has the highest annual fee among the three ($49) but the lowest APR while the First Progress Platinum Elite Mastercard has the lowest annual fee ($29) but the highest APR.

The First Progress Select Mastercard along with the Prestige version has a 1% cash back program. The Elite version does not. Hence, if I were to get a First Progress secured credit card, I would go for the Select version because it has a lower annual fee than the Prestige version and also because it has the 1% cash back rewards program.

First Progress Compared to New Fintech Secured Cards

Recently, there have been a few new secured credit cards launched by Fintech startups that have no credit checks and also no annual fees. But you are required to either open a mobile banking account and set up direct deposit with them or open a credit builder account. Let's look at a few of them.

The Self Secured Visa is a secured credit card has no credit checks and no annual fee. But you can get it once you have "saved" enough money in your credit builder account. This is a card that is ideal for those of you that want to rebuild with a secured credit card but do not have the necessary cash to fund your deposit. It allows you to save up for it.

Then 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. But once you have met this hurdle, you can simply get the secured credit card with a click from their mobile app.

One thing these new Fintech secured credit cards do not offer (which First Progress does) is a pathway to an unsecured credit card. They also do not have any cash back or rewards program.

Pros: What We Like

• Pathway to Unsecured Credit Card - First Progress Select will invite you to apply for the First Digital Mastercard if you pay your first 6 bills on time. This offers a pathway to an unsecured credit card in a relatively short time.


• No Credit Checks - First Progress does not perform any credit checks. Therefore you will definitely be approved and get your card as long as you fund your security deposit. You will also be approved even if you have a discharged bankruptcy on your credit report.


• Cash Back Program - Not many rebuilder credit cards have cash back program. But First Progress does. You can earn 1% cash back when you pay your bills. If you charge $3,900 on your card in a given year, you would have earned enough cash back to pay off your annual fee (since $39 is 1% of $3,900).


• Credit Limit May Increase Without Additional Security Deposit - First Progress may increase your credit limit without requiring any additional security deposit from you. This is something which very few people know about and very few reviewers are even aware of it.


• Free Vantage Score from Experian - Cardholdes get a free Vantage score from Experian.

Cons: What Do Do Not Like

• No Autopay - First Progress has no autopay feature.


• Need to use own bank's Bill Pay - If you want to pay your bills online, you will have to use your own bank's Bill Pay. Most of you will not have an issue with that but some of you have banks that charge a fee for this. Furthermore, First Progress will take up to 5 days to process the payment so you will have to pay your bills at least 6 days before the due date just to be safe.


• Cannot Pay via Mobile App - At this moment, you cannot pay your bills via the mobile app.

First Progress Select Mastercard Gets Our Recommendation

There is a lot to like about the First Progress Select Card (and in fact all First Progress). For rebuilders who have been denied other subprime credit cards and do not want to risk another hard inquiry will find the First Progress Select Card very attractive as there are no credit checks. You will also be approved even if you have a prior discharged bankruptcy and it is in your credit report. You will definitely be approved and you simply have to fund your initial deposit to get the card shipped to you so you can begin to use it.

While First Progress does not have any unsecured credit cards in their portfolio and hence you cannot directly graduate to one, they have struck up a partnership with First Digital. The plan is that if you pay your first 6 First Progress bills on time, you will be invited to apply for the First Digital Mastercard. While approval is never assured, your chances are much higher after 6 months of rebuilding with First Progress. This give you a 6 month time frame to "move up" to an unsecured credit card from a secured one.

On top of this, there is a chance that First Progress might actually give you a credit limit increase without requiring you to put up additional security deposit in your deposit account. This will essentially make this card a partially secured credit card.

First Progress also has a 1% flat rate cash back program where you can earn 1% cash back on your payments. Cash back are redeemed as statement credits. If you spend $3,900 a year on the card and paid your bills in full, you would have earned $39 in cash back which would have covered the annual fee.

There are a couple of things you have to be aware of and consider before you pull the trigger. Firstly, First Progress does not have autopay at this moment. If you are someone that cannot live without autopay, then this could be a deal breaker. You would also have to use your own Bank's Bill Pay if you choose to pay online. If you bank's Bill Pay charges a fee and you are not willing to pay via check, then this might be a "no go" as well. You also cannot pay your bills through the mobile app.

To sum up, based on our review and evaluation, we give the First Progress Platinum Select Mastercard Secured Credit Card a 4.2 star out of 5 for it's "no credit check policy", their 1% cash back program, their partnership with First Digital which may result in an unsecured credit card offer and the potential for a credit limit increase without additional security deposit. The lack of autopay and the need to use your bank's own Bill Pay feature to pay your bills prevents us from giving this card a higher rating.

Best Practices: How to Use and Set Up the First Progress Select?

If you decide to get the First Progress Select Mastercard, here are some suggestions of best practices to follow.

Pay your first bill because the annual fee will be billed immediately - As you should know by now, the annual fee will be billed in your very first statement. And because First Progress will invite you to apply for the First Digital Mastercard if you pay your first 6 bills on time, it is imperative that you watch out for it and pay promptly even if you card arrival is delayed.

Give enough mail time if paying via check - Though First Progress will process a check or money payment the day it is received (as long as it is received before 5pm EST), you need to give the USPO enough time to deliver the mail by mailing it a few days before the due date.

Pay at least 6 days if paying online electronically - If you pay your bills online via your bank's Bill Pay system, First Progress may take up to 5 days to process the payment. You should send your payment at least 6 or 7 days before the due date to make sure the payment gets processed in time.

Decide on your credit limit from the get go - If you want to increase your credit limit after your initial security deposit, you will need to get approval from First Progress. You cannot simply just deposit more money into your deposit account. Hence, it is important that you think carefully how much credit limit you need and make sure you have enough right from the start.

How to Apply?

The First Progress application process is really easy. I'll show you the pages and information. 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. On the next page, you simply have to tick off all of the check boxes and agree to the terms and conditions.



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 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. This option is great for those of you who are really paranoid about wanting to have the card in your hand before you part with your security deposit.

FREQUENTLY ASKED QUESTIONS

What is expedited processing?

What is expedited processing?

How long does it take to receive a response after I apply?

How long does it take to receive a response after I apply?

Does First Progress deposit earn interest?

Does First Progress deposit earn interest?

Does First Progress report to credit bureaus?

Does First Progress report to credit bureaus?

How do I apply for First Progress Rewards

How do I apply for First Progress Rewards

How do I redeem my rewards

How do I redeem my rewards

Contact Information

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