First Progress Platinum Elite Mastercard® Secured

The full terms

Who this card suits

First Progress Platinum Elite Mastercard® Secured is aimed at people in the no credit / poor range. As a secured card you'll put down a refundable deposit of at least $200, which becomes your credit line. That deposit is what makes approval realistic when your score is low — the issuer isn't taking a risk.

Using it to actually raise your score

• Pay on time, every time. Payment history is the biggest single factor in your FICO score. Set autopay for at least the minimum.
• Keep utilisation low. Stay under 30% of your limit, ideally under 10%. On the starting limit of $200 that's $60 and $20 respectively.
• Don't chase more cards yet. Every application is a hard inquiry. Let this one age.