The Fortiva Credit Card is an unsecured credit card for people with bad credit, which means there is no minimum credit score and no security deposit needed. The downside is that the Fortiva Card has expensive fees and a high APR. For example, the annual fee is
$49 - $175 the first year. It drops to
$0 - $49 from the second year on, but it's joined by a monthly fee of $5 - $12.50 at that point.
In exchange for those fees, cardholders get an unsecured credit line of an undisclosed amount. The Fortiva Credit Card also reports to the three major credit bureaus each month. It can therefore help you improve your credit score if used responsibly, as well as enable you to finance certain emergency expenses. However, carrying a balance from month to month will be expensive, thanks to the Fortiva Mastercard’s high APR. There are much less expensive ways to build or rebuild your credit, too.
That’s the Fortiva Credit Card in a nutshell. For your convenience, we’ll continue by highlighting the biggest factors to take into account when deciding whether to apply for the Fortiva Credit Card or reconsider alternative options.
Fortiva Credit Card Review Highlights:- One-time fee: $0
Some unsecured credit cards for bad credit assess a fee prior to account opening in order to skirt a law prohibiting excessive fees the first year. - Annual fee: $49 - $175 1st yr, $0 - $49 after
The average credit card annual fee is $22.29, but many credit cards for people with bad credit have no annual fee. - Monthly fee: $0 intro 1st yr, $5 - $12.50 after
It’s best to avoid this monthly fee, by graduating to a cheaper unsecured credit card offer within 12 months. - Interest Rate: 22.74% - 36% (V)
The Fortiva Card’s APR depends on your creditworthiness when you apply. Any rate from the range of possibilities will be above-average for a credit card offer right now, however. That’s why it’s best not to carry a balance from month to month with this card, except in emergency situations. - Credit limit: Undisclosed
The Fortiva Credit Card’s spending limit is revealed to new cardholders after approval for an account. That, combined with the fact that cardholders can’t request a credit limit increase, makes it very hard to count on the Fortiva Mastercard as a way to cover emergency expenses. Plus, whatever your limit is, fees will eat into the amount of spending power that you have available initially. - Rewards: None
The Fortiva Credit Card’s lack of rewards makes it a bad choice for people who plan to pay their bill in full every month. - How to apply: Online, with an offer code
You can apply for the Fortiva Credit Card online – but only in response to an offer that you receive in the mail. Receiving a mail offer for the Fortiva unsecured Mastercard doesn’t guarantee approval, but it does mean the chances are extremely good.
Bottom Line: Is the Fortiva Credit Card Good?No. The Fortiva Credit Card is not a good choice, unless you have bad credit and need to borrow a small amount of money for an emergency expense. The card’s interest rate and fees are too high to make it a good option for credit-building alone, and its lack of rewards means it’s not a good fit for people who plan to pay their bill in full every month. Most people would be better off with a $0 annual fee
secured credit card.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.