What does the card cost and what is the APR?
There is no cost to apply for the First Latitude Card Secured MasterCard®, and the card has no Annual Fee the first year. The Annual Fee is $29 in the second and subsequent years. The APR on the card will vary with market interest rates, and is currently 23.99% for both Purchases and Cash Advances.

What is the difference between a secured card and prepaid or debit card programs?
Prepaid and debit cards are available to consumers with poor or inadequate credit scores, but these products generally do not offer credit and do not report to the major consumer credit bureaus. Some prepaid and debit card programs carry monthly membership fees or carry a charge for reloading funds to the card.

A secured card is a real credit card that extends credit based on a security deposit provided by the cardholder rather than relying on the applicant’s credit history. Aside from the security deposit requirement, a secured card works just like any major (Visa®, MasterCard® or American Express®) bankcard. The cardholder can revolve a balance by paying only the minimum monthly payment, or avoid finance charges by paying the balance in full each month. Activity on the First Latitude Card Platinum Secured MasterCard® Credit Card is reported monthly to all three major credit bureaus to help speed the accumulation of new credit history in the cardholder’s credit files.

What is Expedited Processing?
We offer an optional Expedited Processing Service for $19.95. With the Expedited Processing Service your secured credit card will be processed up to 7 days faster and is only available if you use a debit or prepaid card to fund your security deposit. The $19.95 will be applied to your debit or prepaid card account along with the security deposit amount selected to fund your secured credit card.

Who is this card designed to serve?
The First Latitude Card Secured Credit Card has been designed for customers who may have had credit issues in the past and need to re-build credit or who are just starting out and need to build new credit. We seek to serve the broadest possible set of applicants, especially individuals who are seeking to improve their credit going forward.

Does First Latitude Card report activity on the card account to the credit bureaus?
Yes! In order to help our customers advance the accumulation of new information in their credit file, we report all usage and payment activity to all three national credit bureaus every month. NOTE: poor payment performance will negatively impact credit history.

Does it say “Secured” on the card?
No, the card face carries the words “Platinum”, “First Latitude”, and “MasterCard®”, and will be embossed with your name.

I sent in an application. How long will it take to receive a response?
Our goal is to process applications in three weeks or less. If it has been longer than 3 weeks, and you have received no response from us, please contact us. Consider our Expedited Processing option if you need to receive your card more quickly.

If I close my account, how will I receive a refund of my security deposit?
We will automatically credit your account for the amount of the security deposit in full when you close your account. If a credit balance remains net of any outstanding charges, a credit balance refund check will be a mailed to your address of record within 10 weeks. If you wish to receive your credit balance refund check on an expedited basis after closing an account, please request this by writing us at First Latitude Card Credit Balance Refund Requests, PO Box 9053, Johnson City, TN 37615-9053. We will issue a credit balance refund check within 7 business days upon receipt of such a request.