First Progress Select Secured Mastercard®
REVIEW

Key Features

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

 

Apply with No Imact to Your Credit Score^*

Applying for a First Progress credit card will not impact your credit score. They may pull a soft inquiry on your credit, and soft inquiries do not impact your credit score. Since this is a secured credit card, you may qualify for a First Progress credit card with no minimum score.

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.

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 CT. 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 Online 

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

Can set up Autopay 

Pay via Mobile App .

First Progress Select Compared To Other No Credit Check Cards

Card	Annual Fee	Min Deposit	Cash Back
First Progress Select	$39	$200 - $2,000	1%
First Progress Prestige	$49	$200 - $2,000	1%
First Progress Elite	$29	$200 - $2,000	N.A.
Opensky	$35	$200 - $3,000	N.A.
Go2Bank	$0	$100	N.A.
Chime	$0	No min or max	N.A.
Self	$25	$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 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

• Apply with no Impact to Credit Score^* - 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. 


• 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).


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

Cons: What Do Do Not Like

• Payment Holds - You may experience up to 10 days on payment holds.

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 simply have to fund your initial deposit to get the card shipped to you so you can begin to use it.

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.

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" and their 1% cash back program. Their annual fee prevents us from giving it 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. 

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 CT), 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