The
Fortiva® Mastercard® Credit Card is a pricey credit card for people with bad credit that’s not likely to be worth the cost despite offering good rewards. Fortiva’s cash back credit card gives cardholders
3% cash back on gas, groceries and utilities, as well as
1% cash back on all other purchases. It also offers an unsecured credit line of up to $1,000, with no security deposit needed. However, the Fortiva Cash Back Reward Card’s benefits come at a steep cost.
The annual fee for the Fortiva Cash Back Card is
$49 - $175 the first year, when there is no monthly fee. From the second year on, the Fortiva Cash Back Card charges an annual fee of
$0 - $49 that’s supplemented by a monthly fee of $5 - $12.50. Plus, if you decide to carry a balance from month to month with this card, you will pay interest at a rate of
29.99% or 36%. With those shortcomings in mind, people with poor credit should seriously consider opting for a secured credit card instead.
Fortiva Cash Back Credit Card Review Highlights
- Annual fee: $49 - $175 1st yr, $0 - $49 after
The Fortiva Cash Back Card is a lot more expensive than the average credit card offer, which has an annual fee of $22.29. Many credit cards, including some for people with bad credit, have no annual fee. - Monthly fee: $0 1st yr, $5 - $12.50 after
Most credit cards do not charge monthly fees. On the bright side, if you use this card responsibly for the first year, you may be able to improve your credit enough to qualify for a free credit card. - One-time fee: $0
Some unsecured credit cards for bad credit assess a one-time fee prior to account opening. The Fortiva Cash Back Card does not charge such a fee, however. - Rewards: Unlimited 1 - 3% cash back
True to its name, the Fortiva Cash Back Reward Card rewards cardholders with cash back for each purchase they make. Most purchases yield just 1% back, which is standard for a cash back card, but bonus-category purchases produce three times as much cash back. The bonus categories are gas, groceries and utility payments. - Interest Rate: 29.99% or 36%
The Fortiva Cash Reward Card’s APR is well above the averages for secured cards (22.83%) and credit card offers overall (22.89%). This is important because one of the main reasons to get an unsecured credit card for bad credit is to borrow a bit of money for emergencies. Having to pay an extremely high interest rate makes that less appealing. - Credit limit: up to $1,000
The Fortiva Cash Back Reward Card’s spending limit could be as high as $1,000. Applicants find out their exact limit after approval for an account, though you may get a better idea of what it will be after simply prequalifying.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.