Building Credit Made Simple: The First Progress Secured Mastercard® Options
If you’ve been turned down for traditional credit cards or just want a safe way to rebuild your credit, First Progress has a couple of solid secured card options worth a look. Both are backed by Mastercard® and report to all three major credit bureaus, but each has slightly different perks and costs depending on what you care about most.
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Purchase APR Rate: 17.99% (V) – Annual Fee: $39 – Credit Needed: Poor/Limited/No Credit – Credit Line: $2,000 | |
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Purchase APR Rate: 13.99% (V) – Annual Fee: $49 – Credit Needed: Poor/Limited/No Credit – Credit Line: $2,000 | |
1️⃣ First Progress Select Mastercard® Secured Credit Card
Think of this one as the “low-fee” version that still gives you cash-back rewards.
Highlights:
- Earn 1% cash back on every purchase.
- Set your own refundable security deposit — $200 to $2,000, with the chance to increase up to $5,000 over time.
- Lower annual fee at $39, compared to other secured cards in this space.
- See terms
- Credit Needed: Poor, Limited, or No Credit
- Reports to Equifax, Experian, and TransUnion every month.
Because it accepts all credit types, it’s an easy entry point if you’re starting from scratch or recovering from past credit trouble. Cardholders who keep balances low and pay on time usually see gradual score improvement — something not all cards in this niche can promise.
2️⃣ First Progress Prestige Mastercard® Secured Credit Card
This version leans more toward flexibility and a lower APR, ideal if you occasionally carry a balance.
Key perks:
- Also earns 1% cash back on all purchases.
- Lower APR: See Terms
- Annual Fee: $49.
- Allows you to fund your security deposit over 90 days with partial payments — a nice touch if you can’t drop the full amount upfront.
- Reports to all three major bureaus (Equifax, Experian, TransUnion).
- Credit line starts around $2,000.
Both cards give you real credit — not a prepaid debit card — which means your activity gets reported and can impact your score positively when managed right.
How These Cards Help You Build (or Rebuild) Credit
A secured card works like a training wheel version of a traditional credit card. You put down a deposit, that deposit becomes your limit, and your spending and payments are tracked like any other credit account.
With First Progress:
- You can graduate to higher limits as you build trust.
- They don’t require a minimum credit score to apply.
- Monthly reports to all bureaus help you establish consistent payment history — the biggest factor in your credit score.
Which One Should You Pick?
- Go for the Select Card if you want to save a little on fees and don’t expect to carry a balance.
- Choose the Prestige Card if you’d rather have a lower APR and appreciate the option to fund your deposit over time.
Both are practical tools if you want to rebuild your credit without getting gouged by hidden fees or risky subprime cards. Keep your balance low, pay in full each month, and these cards can quietly help you move from “denied” to “approved” territory over time.
Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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