First Progress Platinum Elite Mastercard® Secured Credit Card vs. Discover it® Secured Credit Card
If you have poor/limited credit, the Discover it® Secured Credit Card is a solid option to help you build or rebuild your credit. Unlike the First Progress Platinum Elite Mastercard® Secured Credit Card, it charges a $0 annual fee and comes with a rewards program that lets you earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically. There’s also a sign-up bonus: Discover will make all the cash back you’ve earned at the end of your first year.
It will take a little longer before Discover reviews your account, but after seven months, you’ll get automatic monthly account reviews to see if you’re eligible to graduate to an unsecured card and get your deposit refunded. Note, Discover will consider your behavior across your credit card and loan accounts from all issuers and lenders when making this decision.
First Progress Platinum Elite Mastercard® Secured Credit Card vs. OpenSky® Secured Visa® Credit Card
The OpenSky® Secured Visa® Credit Card has many similarities to the First Progress Platinum Elite Mastercard® Secured Credit Card. There’s no credit check required for approval, your security deposit amount determines your credit limit, and your accounts are reported to the three major credit bureaus. Where it differs is the annual fee which is slightly higher at $35.
To determine your approval for the OpenSky® Secured Visa® Credit Card, factors such as your annual income and monthly housing payment information are reviewed. After six months of payments, you may be considered for a credit line increase with no additional deposit required.
Like the First Progress Platinum Elite Mastercard® Secured Credit Card, the OpenSky® Secured Visa® Credit Card doesn’t offer rewards or an intro APR.