One benefit of the First Progress Platinum Prestige MasterCard® Secured Card is the low standard APR of 11.99%. Although there are other secured credit cards with slightly lower standards APRs, the Platinum Prestige MasterCard® is among the lowest. If you are trying to rebuild your credit, finding a secured credit card with a low APR will definitely be helpful.


The Platinum Prestige MasterCard® has an initial credit limit of $2,000. However, over time, cardholders can be approved for a credit limit of $5,000. Some of the other top secured credit cards cap the credit limit at $3,000. For those that occasionally make large purchases, this higher limit can be beneficial.


The Platinum Prestige MasterCard® does not charge an over-limit fee. For those times when money is particularly tight, get hit with an over-limit fee can be an additional burden. Although most secured credit cards don't charge an over-limit fee, it is still a positive characteristic of the Platinum Prestige MasterCard® that is worth noting.



One potential drawback to the Platinum Prestige MasterCard® is the relatively high annual fee of $44. All of the top secured credit cards charge an annual fee, but $44 is on the high side. This slightly higher fee may not impact those with relatively high credit limits, but for those with the minimum $300 limit, a low annual fee will be more important.


The Platinum Prestige MasterCard® Secured Credit Card does not grant instant approval to credit applicants. Although instant approval is uncommon for secured credit cards, there are secured cards on the market that offer this feature. If instant approval is important to you, the Platinum Prestige MasterCard® may not be the right choice.


Deposit and Limits
Maximum Credit Limit $5,000
Minimum Credit Limit $264
Minimum Security Deposit $300
Cash Advance Rate (APR) 18.99%* Variable
Grace Period 25 Days
Standard Balance Transfer Rate (APR) N/A
Standard Rate (APR) 11.99%* Variable
Annual Fee $44
Balance Transfer Fee N/A
Cash Advance Fee $10 or 3% per advance
Foreign Currency Transaction Fee 3% per transaction
Late Payment Fee Up to $37
Minimum Interest Charge $1.50
Over-Limit Fee $0
Returned Payment Fee Up to $26
Set-up Fee $0


  • Fund Account Online You can fund your account online.

  • Increase Credit Limit with Additional Security Deposit You can increase your credit limit by depositing more money.

  • Increase Credit Limit with Good Payment History You can earn credit limit increases based on your credit and payment history.

  • No Approval Required for Credit Limit Increase You do not need additional approval for credit limit increases.

  • Automatic Credit Reporting The credit card will automatically report your credit standing to the three major credit bureaus.

  • Online Account Access You can access your account 24/7 online.

  • Fraud Liability The credit card offers fraud liability protection.

  • Free Credit Monitoring The credit card offers free credit monitoring services.

  • Grace Period The credit card has a grace period before interest starts to accrue.

  • No Over-Limit Fee The credit card does not have an over-credit-limit fee.

  • No Late Payment Fee The credit card does not have a late payment fee.

  • No Minimum Interest Charge The credit card does not have a minimum interest charge.

  • No Returned Payment Fee The credit card does not have a returned payment fee.

  • Annual Fee Less Than $45 The credit card's annual fee is less than $45.

  • Annual Fee Less Than $55 The credit card's annual fee is less than $55.

  • No Set-up Fee The credit card does not have a set-up fee.

  • Annual Fee Less Than $35 The credit card's annual fee is less than $35.

  • No Annual Fee The credit card does not have an annual fee.

  • No Cash Advance Fee The credit card does not have a cash advance fee.

  • No Foreign Currency Transaction Fee The credit card does not have a foreign currency transaction fee.

  • Deposit Fully Refundable The security deposit is fully refundable.

  • Funds FDIC Insured The security deposit is FDIC-insured.

  • Deposit Earns Interest You can earn interest on your security deposit.

  • No Minimum Deposit The credit card does not require a minimum security deposit.

  • Apply By Phone You can complete the credit card application process over the phone.

  • Apply Online You can complete the entire credit card application process online.

  • Apply In Person You can apply for the credit card live in person.

  • Instant Approval The card offers instant approval for the credit card.

  • No Balance Transfer Fee The credit card does not have a balance transfer fee.

  • Transfer from Credit Cards You can transfer a balance from another credit card.

  • Transfer from Loans You can transfer a balance from a loan to the credit card.

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