First Progress Platinum Select Mastercard® Secured Credit Card

A secured credit card is a nifty, convenient little financial tool that can help people who may be struggling with establishing credit or recovering from credit issues. It is just like a prepaid debit card in that you have to make a deposit before you can begin spending. However, unlike a traditional credit card, you do not have to keep making deposits in order to spend. The deposit you make is collateral that is used against your account in case of a default. This is precisely how the First Progress Platinum Select Mastercard Secured credit card works. After you make your deposit, you will be able to take advantage of regular credit card benefits like buying things at the store or online and getting cash advances. Of course, along with these benefits, you will also face penalties, processing fees, maintenance charges, and the variable balance interest rates that are common to traditional credit cards.