First Progress Select Secured Mastercard®
Straightforward secured card with a low annual fee and easy setup. Put down a refundable deposit, build with all three bureaus, and keep it simple.
Card Details
- Annual fee: $39.
- Rewards: None (focus is credit building).
- APR (purchases): Variable; see Rates & Fees for current terms. Cash-advance APR is higher.
- Deposit & credit line: $200–$2,000 to start (limit equals deposit). Refundable when account closes in good standing.
- Foreign transaction fee: 3%.
- Other fees: Cash-advance fee $10 or 3% (greater); late fee up to $41; returned payment up to $30.
- Reporting: Reports monthly to Experian, Equifax, and TransUnion.
- Issuer / Network: Synovus Bank • Mastercard. Deposit held at Synovus (FDIC-insured to legal limits).
About The Card
Select is the low-fee option in the First Progress secured lineup. You make a refundable security deposit that becomes your credit limit, then use the card like any Mastercard while your on-time payments are reported to all three bureaus.
It’s built for simplicity: quick setup, predictable costs, and broad acceptance. Use it for small, everyday purchases, pay in full, and let 6–12 months of clean history pave the way to an unsecured card later.
Pros
- Low annual fee for a secured card ($39).
- Three-bureau reporting to build real history.
- Refundable deposit; straightforward setup and management.
- Mastercard acceptance virtually everywhere.
Cons
- No rewards program.
- 3% foreign transaction fee—avoid for overseas use.
- Cash advances are costly (fee + higher APR).
- No guaranteed upgrade path with the same issuer.
Is this card for me?
Choose Select if you want a clean, low-fee secured card to establish or rebuild credit with full three-bureau reporting. If you travel internationally often or want rewards/upgrade perks, this isn’t it—use Select as a temporary tool, keep balances low, pay on time, and move to an unsecured card once your profile improves.
