First Tech Platinum Secured Mastercard Review 2024 – Forbes Advisor – Technologist

First Tech Platinum Secured Mastercard®* vs. Discover it® Secured Credit Card

The Discover it® Secured Credit Card is a secured cash-back credit card offering 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases. It also offers an Unlimited Cashback Match™ – Discover will automatically match all the cash back earned at the end of the first year.

Unlike the First Tech Platinum Secured Mastercard, the Discover it® Secured Credit Card doesn’t allow you to redeem rewards for travel. However, you’ll earn double on gas and restaurant purchases making this a much more rewarding card. The minimum refundable security deposit is $200, so the cost to entry may be more attainable.

Read more. Best Secured Credit Cards

First Tech Platinum Secured Mastercard®* vs. Capital One Quicksilver Secured Cash Rewards Credit Card

The Capital One Quicksilver Secured Cash Rewards Credit Card offers 1.5% cash back on every purchase and 5% cash back on hotels and rental cars booked through Capital One Travel. This card also requires a lower $200 minimum security deposit. With responsible card use of this card, you could earn your deposit back and upgrade to an unsecured Quicksilver card.

The First Tech Platinum Secured card is a better option if you may need to carry a balance. Unfortunately, the Quicksilver Secured card carries a high 29.99% (Variable) APR (rates & fees).

First Tech Platinum Secured Mastercard®* vs. Bank of America® Customized Cash Rewards Secured Credit Card*

The Bank of America® Customized Cash Rewards Secured Credit Card* offers a more lucrative rewards program, allowing cardholders to maximize their cash back. This includes 3% cash back in a category of choice: gas and EV charging, online shopping, dining, travel, drug stores or home improvement/furnishings; 2% cash back at grocery stores and wholesale clubs; unlimited cash back on all other purchases. Earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%. With a rewards cap that is likely to exceed your spending and a higher reward rate, this card shines bright among competing secured cards.

Like the First Tech Platinum Secured card, the Customized Cash Rewards secured card also has no annual fee, although the standard APR is higher. It also requires a minimum deposit of $200.