First Progress Platinum Prestige Mastercard® Secured Credit Card carries a $49 annual fee and a 14.74% (V) interest rate.The primary difference between them is the annual fee for the account and the interest rate it charges. First Progress Featuresįirst Progress offers three different secured credit cards. You can use these cards anywhere Mastercard is accepted and there is no minimum credit score required. OpenSky is for people wanting access to a community of people who are working to build their credit together.įirst Progress offers three secured credit cards, all on the Mastercard network.First Progress is for people who want some control over the annual fee they pay and the interest rate of their card.The lender takes on almost no risk and you get the opportunity to show you can handle credit and build your credit history.įirst Progress and OpenSky are two secured credit card providers, each with pros and cons. You give the lender some collateral, usually a cash deposit, and the lender gives you a credit card. Secured credit cards are one solution to this problem. However, without access to a loan or credit card, you have no way to build a good credit history. If you have no credit or have poor credit, you can’t qualify for credit cards and loans. This content has not been provided by, reviewed, approved or endorsed by any advertiser, unless otherwise noted below.Ĭredit can be something of a chicken-and-egg problem. We may, however, receive compensation from the issuers of some products mentioned in this article. You can trust the integrity of our balanced, independent financial advice.
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