First Tech Platinum Secured Mastercard® is a secured business credit card designed for First Tech FCU members with an existing First Tech FCU business checking account. It’s great for those who want to establish their credit and maximize purchases simultaneously. It lets you earn a point for every dollar spent on all purchases, with no limits on the number of points earned. It requires a security deposit ranging from $500 to $25,000.
First Tech Platinum Secured Mastercard®
BEST FOR:
Members of First Tech FCU who want to build their credit
- 1x point per dollar spent on everyday purchases
Pros
- Has low starting APR
- Enjoy $0 annual, foreign transaction, balance transfer, and cash advance fees
- Lets you earn rewards on purchases
Cons
- Has no welcome offer
- Does not offer a 0% introductory period
- You need to become a First Tech member to open an account
- Purchase assurance: When an item you bought with your covered card is damaged or stolen within 90 days of purchase, you may be eligible for benefits under this coverage
- Mastercard Global Service™: Provides worldwide, 24-hour assistance with Lost and Stolen Card Reporting, Emergency Card Replacement, and Emergency Cash Advance
- Mastercard ID Theft Protection™: This is a theft resolution service in case you become a victim of identity theft
- Ongoing rewards: Earn unlimited 1x points per dollar spent on purchases and redeem your rewards for travel, merchandise, gift cards, and more—plus, your rewards don’t expire
- 1x point per dollar spent on everyday purchases
Pros
- Has low starting APR
- Enjoy $0 annual, foreign transaction, balance transfer, and cash advance fees
- Lets you earn rewards on purchases
Cons
- Has no welcome offer
- Does not offer a 0% introductory period
- You need to become a First Tech member to open an account
- Purchase assurance: When an item you bought with your covered card is damaged or stolen within 90 days of purchase, you may be eligible for benefits under this coverage
- Mastercard Global Service™: Provides worldwide, 24-hour assistance with Lost and Stolen Card Reporting, Emergency Card Replacement, and Emergency Cash Advance
- Mastercard ID Theft Protection™: This is a theft resolution service in case you become a victim of identity theft
- Ongoing rewards: Earn unlimited 1x points per dollar spent on purchases and redeem your rewards for travel, merchandise, gift cards, and more—plus, your rewards don’t expire
When grading secured business credit cards like the First Tech Platinum Secured Mastercard®, we rate the annual fee and ongoing annual percentage rates (APRs) first. We also grade the card based on rewards, security deposit requirements, introductory APR, other fees, and additional features.
Grading Criteria | Card Score | Highest Possible Score |
---|---|---|
Annual Fee | 25 | 25 |
Ongoing APR | 23 | 25 |
Ongoing Rewards | 8 | 10 |
Introductory Rewards | 0 | 10 |
Security Deposit | 5 | 10 |
Other Fees | 7 | 10 |
Introductory APR | 0 | 5 |
Additional Features | 3 | 5 |
Total Score | 71 | 100 |
Who the First Tech Platinum Secured Mastercard® Is Best For
- Those who need to rebuild or establish their credit: Those who have a bad credit history or are just starting out and need to establish their credit may want to consider getting this credit card. First Tech FCU reports to major credit bureaus, such as Experian, Equifax, and TransUnion.
- Those who want to maximize their business expenses: This secured business credit card offers unlimited 1% cash back on all purchases, regardless of spending categories.
- Those with a First Tech FCU business checking account: If you have an existing checking account with First Tech FCU, it will be advantageous to secure this card as it will help you manage all of your financial transactions within one bank. Check our First Tech FCU business checking review if you’re interested in getting an account.
First Tech Platinum Secured Mastercard® Rewards
- 1x points for every dollar spent on everyday purchases, with no limits on points earned
How To Redeem First Tech Platinum Secured Mastercard® Rewards
Your earned points do not expire. You can redeem for travel, merchandise, gift cards, and more and can get these at www.rewards.firsttechfed.com or on the credit union’s mobile app.
First Tech Platinum Secured Mastercard® Features
Mastercard® Benefits
- Mastercard ID Theft Protection™: Get access to Mastercard’s Identity Theft resolution services if you become a victim of identity theft.
- Mastercard Global Service: Call (800) 307-7309 to receive worldwide 24/7 assistance to report a lost or stolen card, request an emergency card replacement, or secure an emergency cash advance.
- MasterRental Coverage: Secure coverage on your rented vehicle for 31 consecutive days after paying the rental agreement with your card. Note that you need to decline the optional collision/damage waiver offered by the rental company. The coverages received are as follows:
- Physical damage and theft of the vehicle
- Reasonable loss of use charges imposed by the vehicle rental company
- Towing charges to the nearest collision repair facility
- Mastercard Airport Concierge™: Enjoy a 15% discount on Airport Meet and Greet services. In addition, you can arrange for your dedicated Meet and Greet agent to escort you through the airport on departure, arrival, or any connecting flights to more than 700 global destinations.
- MasterAssist: Secure the following assistance services offered by Mastercard:
- Travel medical emergency assistance: Connect with qualified physicians, hospitals, clinics, ambulances, private duty nurses, dentists, dental clinics, services for the disabled, and more if you have a medical emergency while traveling.
- Travel services medical protection: Gain access to a global referral network of local physicians, dentists, hospitals, and pharmacies in case you have a medical emergency while away from home.
- Legal assistance: Receive referrals to lawyers or other legal services providers if you need legal assistance; also, get legal assistance of up to $1,000 and advance payment for bail bonds of up to $5,000.
- Travel personal assistance: Access relevant information and referrals to assist you in case of imprisonment, hospitalization, or circumstances that require an interpreter.
- Purchase assurance: Receive coverage for purchases made within 90 days of purchase. Note that a maximum of $1,000 per loss and a total of $25,000 per cardholder account within the 12-month period will be given to cardholders.
- Lost or damaged luggage: Get coverage for your checked or carry-on luggage by receiving up to $1,500 per incident of repairing or replacing your checked and/or carry-on luggage and any personal property contained within.
- Trip cancellation: Get reimbursed in the event that you are required to cancel your trip prior to the departure date.
- Worldwide automatic travel accident and baggage delay:
- Worldwide automatic travel accident: Receive the full benefit of $250,000 after meeting certain conditions.
- Baggage delay: Get reimbursed up to the daily benefit amount of $100 per day for three persons in the event of a baggage delay. Note that certain conditions will need to be met.
First Tech FCU Benefits
- Portland Trail Blazers option: Opt to issue a Portland Trail Blazers card for your business. This card makes you eligible to receive discounts on the following:
- Games, shows, and performances at the Rose Quarter
- 10% off everything at Rip City Clothing Co. in the Moda Center, all season long, after using your First Tech Platinum Secured Mastercard®
- Digital banking: Receive access to the mobile app, available for iOS and Android users, that will give you the flexibility to pay your bills, manage your cards, do wire transfers, and send money through Zelle®.
First Tech Platinum Secured Mastercard® Fees
APRs
- Introductory: None
- Ongoing: 14.25% to 18.00% variable, adjusts with the prime rate
- Cash advances: 15.25% to 18.00% variable; adjusts with the prime rate
Fees
- Security deposit: Minimum of $500; maximum of $25,000
- Annual: None
- Foreign transaction and cash advance: None
- Late and returned payments: Up to $25
Your due date is at least 21 days after the close of each billing cycle.
- Online: Log in to your Online Banking account and click the “Pay” button next to the credit card. Alternatively, you can transfer money to the credit card account via Online Banking from your First Tech FCU business checking account.
First Tech Platinum Secured Mastercard® Alternatives
Valley Visa® Secured Business Credit Card
First Tech Platinum Secured Mastercard® does not offer a 0% introductory period. Consider the Valley Visa® Secured Business Credit Card as an alternative secured business credit card as you can enjoy a 0% introductory period on purchase for the first six billing cycles.
Valley Visa® Secured Business Credit Card
BEST FOR:
Those who need a secured business credit card with fixed-rate cash back rewards
- 1% unlimited cash back on all purchases
Pros
- Customers with limited credit history or credit issues can still qualify
- Offers 0% APR on both purchases and balance transfers for six billing cycles
- $0 annual fee
- Offers 1% unlimited cash back on all purchases
Cons
- Credit limits are up to $25,000 only
- Requires a security deposit equivalent to 110% of requested credit limit
- Up to 25 free employee cards only
- Online account access
- Immediate fraud protection alerts for suspected fraudulent transactions
- Visa purchase alerts
- The card reports account information and transactions to major credit bureaus each month, helping users build credit with responsible use
- 1% unlimited cash back on all purchases
Pros
- Customers with limited credit history or credit issues can still qualify
- Offers 0% APR on both purchases and balance transfers for six billing cycles
- $0 annual fee
- Offers 1% unlimited cash back on all purchases
Cons
- Credit limits are up to $25,000 only
- Requires a security deposit equivalent to 110% of requested credit limit
- Up to 25 free employee cards only
- Online account access
- Immediate fraud protection alerts for suspected fraudulent transactions
- Visa purchase alerts
- The card reports account information and transactions to major credit bureaus each month, helping users build credit with responsible use
Emburse Spend Card
Even as a secured business credit card, First Tech Platinum Secured Mastercard® will still charge you interest rates if you cannot pay your balances in full each month. We suggest the Emburse Spend Card as an alternative since only the money loaded in your account can be used for transactions.
Emburse Spend CardBEST FOR: Earning unlimited cash back rewards | |
---|---|
Spending Limit | Load Limit |
|
|
Costs | |
| |
U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard®
The First Tech Platinum Secured Mastercard® will not let you make large purchases or transfer significant balances. We recommend the U.S. Bank Business Triple Cash Rewards World Elite™ Mastercard® as an alternative as it offers a 0% introductory period on both purchases and balance transfers for the first 15 billing cycles.
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022.
- Terms and conditions apply.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- $0 annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022.
- Terms and conditions apply.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- $0 annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Frequently Asked Questions (FAQs)
To gain First Tech FCU membership, you must meet at least one of the following criteria:
- Work for one of First Tech FCU’s 900-plus partner companies—some examples include Amazon, Microsoft, and Intel.
- Have a family or household member who is already a First Tech FCU member
- Work or live in Lane County, Oregon
- Belong to the Computer History Museum or the Financial Fitness Association; to be a member of the Computer History Association or the Financial Fitness Association, visit one of its locations or join online.
If in the event you don’t meet the criteria above, you can either call First Tech FCU at (855) 855-8805 or schedule a virtual or in-person appointment at your earliest convenience.
First Tech Credit Union has physical branches in the following states:
- California
- Colorado
- Georgia
- Idaho
- Massachusetts
- Oregon
- Texas
- Washington
When joining a credit union, you can receive the following benefits:
- Get access to a suite of financial services, such as checking and savings accounts, loans, and credit cards
- Receive earnings in the form of higher savings rates and lower loan rates; savings rates offered by First Tech FCU are higher than the national average
- Be assured that it is led by a people-over-profit philosophy
Bottom Line
First Tech Platinum Secured Mastercard® is a great secured business credit card to consider if you are a First Tech FCU member with an existing business checking account who wants to build credit and earn rewards. It lets you earn a point for every dollar spent on purchases, which you can redeem for travel, merchandise, gift cards, and more. Note that this card requires a security deposit that runs anywhere from $500 to $25,000.