First Progress Secured Credit Card Funding:
Secured Credit cards a unique in the sense that they do not operate exactly as a traditional credit card works. Unlike unsecured cards, secured cards require cardholders to fund their account with a predetermined amount of money in order to open their account for use. The reason of this is quite simple, it provides a safety net in the event that the cardholder is unable to pay their debt and they default on their account. There are also advantages of secured cards for the consumers – often time secured cards may be an option for individuals who do not have good credit. In order to improve a credit score it is important to have a good credit history which can be achieved using a secured credit card. First Progress Bank offers secured credit cards for consumers with less than ideal credit and can be a tool for building a good credit portfolio.
Information Regarding Funding a First Progress Secured Card and The First Progress Secured Card:
- Funding does not have to be completed during the application process – if you are approved for the card you can then visit the funding page to complete the process for your credit card
- To fund your card you will need to provide your full 16 digit account number which will allow you to link the funds you provide with your credit card
- If you have applied for the First Progress MasterCard but do not yet know the status of your approval you can follow the approval status link and provide your name and last four of you SSN to view your application status
- No credit history is required and there is no minimum credit score for approval for the First Progress Secured MasterCard
Having a strong credit history and respectable credit score are important for nearly all aspects of finances. Whether you are applying for a loan, a new credit card, signing up for a new mobile carrier, or a variety of other circumstances your credit score comes in to play more often than people may realize. If you are attempting to rebuild your credit score a secured credit card could be a good option and consumers should review their options and select which will be best for them. Most importantly, consumers should always make their required payments and never allow an account to go in to default status – following these simple rules will go a long way to protecting your credit score.