First Progress Premium Elite MasterCard® Secured Credit Card Review: Bad Credit Credit Cards

	Apply Now First Progress Premium Elite MasterCard® Secured Credit Card
Rating:
Bottom Line:	Great choice for those with poor credit; includes 3-bureau credit reporting
Full Review:	First Progress Premium Elite MasterCard® Secured Credit Card is a great choice for people with no credit or poor credit. By making timely payments, it provides the opportunity to build or rehabilitate your credit history with automatic monthly reporting to all 3 credit bureaus. And even though it's a secured card, no one (including the credit bureaus) will know it's different from a regular credit card as it looks the same and doesn't say "secured" on it. As with all credit cards, it's a good idea to pay off your purchases in full every month to avoid APR fees. However, practicing responsible credit behavior by making just the minimum payment on time each month can help improve your credit scores. This card is not available in New York, Wisconsin, Iowa, or Arkansas. Secured Credit Card Guaranteed by your funds, which act as a "security deposit" in case you default on the loan extended by the credit card company. Security deposit will be refunded in full if your account is up-to-date and paid on time when you close out your card. Looks and works like any other credit card, so it won't be apparent to others that this is a secured card. You fund the card by depositing a minimum of $300 (and up to $2,000) into a FDIC-insured account. Deposit amount is based on your credit history. Helps Credit History Helps boost your credit history by reporting to all 3 credit bureaus every month so you can establish or rebuild your credit. Looks like any other credit card on the credit reports - there is no indication that you have a secured card. If you make your payments on time, you can help improve your credit score with good payment behavior. Fees and APR $39 annual fee. Purchase APR: 14.99% APR. No grace period is provided. Balance Transfer APR: balance transfers not permitted. Minimum deposit required is $300 and the maximum deposit is $2,000.

Card Details:

Purchase APR:	14.99% variable
Type of Card:	Secured Mastercard for those with poor or no credit
Min. Secured Card Deposit:	$39 annual fee
Fees:	$300
Helps Credit History?:	Reports to all 3 credit bureaus every month

Disclaimer: This content is not provided or commissioned by the credit card issuers. Opinions expressed here are author's alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers. This site may be compensated through the affiliate program of the credit card issuers.

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First Progress Premium Elite MasterCard® Secured Credit Card Review: Bad Credit Credit Cards

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