First Progress Secured Platinum MasterCard(R) Review

The First Progress Secured Platinum MasterCard(R) is a card that is issued by Synovus Bank. This is the perfect card for those that are looking to either build credit for the first time, or for those that are looking to rebuild their bad credit scores due to some mishaps in the past. This card prominently features the MasterCard(r) logo and features many great benefits that any cardholder can truly enjoy.

Credit Check
To be approved for this card, First Progress doesn't ask for any type of credit history or credit score. This means that as long as you can supply the bank with a proper deposit, you'll get approved for the card. This option makes it great for people of all ages looking to build their credit for the first time or again, as mentioned above, re-build credit because your score is lower than the industry standard.

Credit Limit
The initial maximum for applicants is currently $2,000. Over time, as you build credibility with the bank, they can raise the credit limit to as high as $5,000. This number tends to be the industry standard with most secured cards on the market. Keep in mind that as you build your credit over time, you'll be able to graduate to a unsecured card that doesn't have a deposit requirement.

Credit Reporting
Quickly build your credit with this First Progress card because they do report to the major credit bureaus. As you use this card, the bank will supply activity updates to the leading bureaus, making it easy to increase your credit history and score. Having a great credit score is a great way to not only build trust with your loans, mortgages, etc in the future, it will also give you a peace of mind that you're going to be able to get the best rates possible when applying for a line of credit.

APR
The APR will depend on the current prime rate. Keep in mind that as long as you pay your card off in full, you're going to be able to avoid all interest rates.

Annual Fee
There is an annual fee, just like the other secured credit cards on the market today. What you're going to find is that the First Progress card has a rather low fee compared to most other cards out there.

What We Like About The Card

Set Your Own Limit : With most secured cards, you're going to be able to set your own limit. No matter what you send the bank, this is going to become your limit. Remember that there is going to be a maximum credit limit that is around $2,000 for first time applicants. Again, as mentioned above, as you build trust, your limit will be increased.

Insured By The FDIC: Be assured that your deposit is going to be insured by the FDIC. All deposits that are funded through the bank will be protected by the FDIC, up to $250,000.

Easy Application: Fill out an application today and what you're going to find is that you can get approved within no time. Since First Progress doesn't rely on a credit history and/or score, you can be assured that you're going to get approved as long as deposit is sent in!