What the First Progress Card Is
The First Progress Secured Mastercard is a secured credit card issued by Comenity Capital Bank. You put down a cash deposit, and that deposit becomes your credit limit — so if you deposit $500, you get a $500 limit. The card reports to all three credit bureaus (Equifax, Experian, and TransUnion), which means your payment history builds your credit score over time.
This card is designed for people rebuilding credit or starting from scratch. You are not borrowing money against the deposit; the deposit sits in a separate account as collateral. You still make monthly payments on what you charge, just like any other credit card.
Key Takeaways
- Your cash deposit becomes your credit limit, so you control how much credit you get by choosing your deposit amount.
- The card charges an annual fee (the exact amount varies), so factor that into whether the card makes sense for your situation.
- Payment history is reported to all three credit bureaus, which is what actually builds your credit score.
- After consistent on-time payments, you may be able to graduate to an unsecured card and recover your deposit.
- The card carries an interest rate that depends on your creditworthiness at the time you open it.
How to Open a First Progress Account
You can open the card online through the First Progress website or by phone. You will need to provide your Social Security number, date of birth, address, and employment information. The process itself takes about 10 minutes.
Once approved, you choose your deposit amount — typically between $500 and $2,500, though some cardholders report being able to deposit more. You fund the account by bank transfer or check. The card usually arrives within 7 to 10 business days after your deposit clears.
First Progress does a soft pull of your credit report during the process, which does not affect your credit score. Some applicants report being approved even with very low scores or recent negative marks, though approval is not may provide.
Fees and Interest Rates You Need to Know
The First Progress card charges an annual fee, which is deducted from your account each year. The exact amount depends on your creditworthiness and the terms you are offered at approval — there is no single fee amount across all cardholders.
The card also carries a variable interest rate (APR). This rate is not fixed and can change over time based on market conditions and your account performance. If you carry a balance, you will pay interest on that balance at this rate.
There are no foreign transaction fees, which can be useful if you travel or make international purchases. There is also no penalty APR, meaning your rate will not spike if you miss a payment — though a missed payment will still damage your credit score and may result in late fees.
Using the Card to Build Credit
The goal of a secured card is to demonstrate that you can use credit responsibly. This means charging small amounts and paying them off in full each month, or at minimum paying on time and keeping your balance low relative to your limit.
Credit bureaus look at several factors: payment history (35% of your score), amounts owed relative to your limit (30%), length of credit history (15%), new credit (10%), and credit mix (10%). A secured card helps most with payment history and credit mix, since it is an active credit account that reports monthly.
Aim to use the card for small, regular purchases — groceries, gas, a subscription — and pay the full statement balance by the due date each month. This shows lenders you can manage credit without carrying debt. After 6 to 12 months of on-time payments, you may become may be able to access to graduate to an unsecured card.
When the Card Graduates and You Get Your Deposit Back
First Progress does not automatically convert your card to unsecured. You have to request graduation, usually by calling customer service or through your online account. The bank reviews your account history — primarily your payment record — to decide whether to approve the conversion.
If approved, your deposit is returned to you, usually within 5 to 10 business days. Your credit limit on the new unsecured card may be higher or the same as your deposit amount; this varies by account. The new card will still report to the credit bureaus, so your credit history continues to build.
If you are denied graduation, you can request reconsideration after a few more months of perfect payments. There is no penalty for requesting — the worst outcome is that the bank says no and you keep using the secured card.
Comparing First Progress to Other Secured Cards
Other secured cards in the market include the Capital One Secured Mastercard, the Discover Secured Card, and the OpenSky Secured Visa. Each has different fee structures, deposit minimums, and paths to graduation.
The Capital One card, for example, has no annual fee but a higher deposit minimum ($200). The Discover card also has no annual fee and may offer cash back. The OpenSky card has no credit check requirement, which appeals to people with very limited credit history.
The choice depends on your deposit amount, whether you want to avoid annual fees, and how important cash back is to you. If you have $500 to $2,500 available and can tolerate an annual fee, First Progress is a straightforward option. If you want to avoid fees entirely, Capital One or Discover may be better fits.
What Happens If You Miss a Payment
A missed payment on the First Progress card will be reported to the credit bureaus and will damage your credit score. The impact is significant — payment history is the largest factor in your score, so even one late payment can set back your rebuilding efforts by months.
You will also likely face a late fee. If you miss a payment, contact the bank as soon as possible. Some cardholders report that First Progress will work with you if you call before the payment is severely overdue, though there is no may provide.
If you fall behind on payments, the bank may freeze your account or close it entirely. Your deposit will not be forfeited, but your card will no longer report to the credit bureaus, which means it stops helping your credit score.
Frequently Asked Questions
Can I use the First Progress card right away after opening it?
No. You must make your deposit first, and the deposit must clear before your card is activated. This usually takes 3 to 5 business days after you send the deposit. The physical card arrives separately, typically within 7 to 10 business days.
What if I want to increase my credit limit?
You can request a credit limit increase by depositing more money into your secured account. There is no hard pull or credit check for this — you straightforward add funds. Some cardholders report being able to increase their limit after 6 to 12 months of on-time payments.
Does First Progress report to all three credit bureaus?
Yes. First Progress reports to Equifax, Experian, and TransUnion. This is important because it means your payment history reaches all the bureaus that calculate your credit score, rather than just one.
What is the interest rate on the First Progress card?
The APR varies by cardholder and is determined at the time you open the account. It is a variable rate, meaning it can change. You will see your specific rate in your cardmember agreement when you open the account.
Can I use this card if I have no credit history at all?
Yes. First Progress does not require an existing credit history. The soft credit pull during the process is mainly to verify your identity and check for fraud risk. Many people with no credit history have been approved for this card.