Whether you’re new to borrowing or working to improve past mistakes, this card offers direct reporting to the three major credit bureaus without requiring a high credit score for approval.
There’s no hard inquiry during the application process, and your refundable deposit becomes your spending limit. Issued by Synovus Bank, Member FDIC, this card is accepted anywhere Mastercard is recognized worldwide.
What makes the First Progress Platinum Elite Mastercard stand out is the way it balances accessibility with structure. With a competitively priced APR, one of the lowest annual fees in its class, and a deposit-based limit, it provides a secure foundation for building good financial habits. If you want a transparent and practical tool for credit growth, this card delivers opportunity without unnecessary complexity.
Whether you’re new to borrowing or working to improve past mistakes, this card offers direct reporting to the three major credit bureaus without requiring a high credit score for approval.
There’s no hard inquiry during the application process, and your refundable deposit becomes your spending limit. Issued by Synovus Bank, Member FDIC, this card is accepted anywhere Mastercard is recognized worldwide.
What makes the First Progress Platinum Elite Mastercard stand out is the way it balances accessibility with structure. With a competitively priced APR, one of the lowest annual fees in its class, and a deposit-based limit, it provides a secure foundation for building good financial habits. If you want a transparent and practical tool for credit growth, this card delivers opportunity without unnecessary complexity.
Key Advantages of the First Progress Platinum Elite Mastercard
1. Accessible to All Applicants
Approval is based solely on your deposit — no prior credit history is required, making it an option for beginners and those repairing their credit.
2. No Hard Pull on Your Report
The application involves only a soft credit check, ensuring your score isn’t negatively affected when applying.
3. Credit Reporting to All Bureaus
Your payment history is reported monthly to Equifax®, Experian®, and TransUnion®, giving you visibility across all major platforms.
4. Affordable Annual Fee
At just $29 per year, the Platinum Elite keeps costs low while still providing a full Mastercard experience.
5. Competitive Variable APR
Currently set at Prime + 16.74% (around 25.24%), this rate is reasonable compared to many other secured cards.
6. Refundable Security Deposit
Choose a limit between $200 and $2,000. The deposit is fully refundable when you close your account in good standing.
7. Opportunity for Higher Limits
With consistent on-time payments, cardholders may qualify for limit increases up to $5,000, improving credit utilization.
8. Option to Receive Card Early
For an added fee, you can request the physical card before depositing funds, allowing up to 90 days to complete funding.
9. Path to an Unsecured Upgrade
After six months of responsible use, you may qualify for the First Digital Mastercard, an unsecured alternative.
10. Backed by a Trusted Bank
Synovus Bank, Member FDIC, ensures your deposit is secure and your account reliable.
Who Qualifies for the First Progress Platinum Elite Mastercard?
To apply, you must:
- Be 18 years or older (19 in some states)
- Be a U.S. resident with a verified address
- Hold a valid Social Security Number
- Maintain a checking or savings account to fund the deposit
- Provide proof of income that meets the card’s requirements
- Not currently hold another First Progress account
How to Apply
- Visit the official First Progress website
- Select the Platinum Elite Mastercard option
- Enter your personal and financial information
- Decide your deposit amount ($200–$2,000)
- Complete ID and income verification
- Submit the application form
- Fund your deposit once approved
- Receive your Mastercard by mail and start building credit
Common Questions
1. Does applying affect my credit score?
No. Since only a soft inquiry is used, your score remains unaffected.
2. Is the deposit refundable?
Yes. You’ll receive your full deposit back if the account is closed in good standing.
3. What is the annual fee?
The Platinum Elite has a $29 yearly fee, charged at account opening.
4. Can my credit limit increase?
Yes. Responsible usage may qualify you for increases up to $5,000.
5. Does it offer rewards or cashback?
No. This card is designed exclusively for credit building.
6. Which bureaus receive my payment history?
Your data is reported to Equifax, Experian, and TransUnion.
7. Can I use this card abroad?
Yes. However, international purchases include a 3% foreign transaction fee.
