Yes, the security deposit you make on the First Progress Platinum Select Mastercard® Secured Credit Card is fully refundable. This deposit acts as your credit limit and serves to protect the issuer, ensuring you have a line of credit. Once you close your account and pay off any outstanding balance, the security deposit is returned to you, making this card a smart choice for building or rebuilding credit.

The First Progress Platinum Select Mastercard® Secured Credit Card is primarily designed to help individuals build or rebuild their credit. While its main focus is on credit improvement rather than rewards, it offers features such as reporting to the major credit bureaus and controlled spending which can be beneficial for users looking to enhance their creditworthiness. That said, you do earn an incentive on card payments.

The possibility of a credit limit increase with the First Progress Platinum Select Mastercard® Secured Credit Card is primarily based on your usage patterns and payment history. Demonstrating responsible behavior, such as timely payments and maintaining a low balance, significantly enhances your chances. However, it’s recommended to reach out to First Progress customer service for inquiries about credit limit increases and to review any specific requirements or procedures.