The Fortiva Cash Card annual fee is $49 - $175 for the first year and $0 - $49 after that. The Fortiva Cash Card also charges cardholders monthly fees, starting with the second year an account is open.
Fortiva Cash Card Fees
Annual Fee: $49 - $175 1st yr, $0 - $49 after
Cash Advance Fee: 5% (min $5)
Foreign Fee: 3%
Max Late Fee: $41
Monthly Fee: $0 1st yr, $5 - $12.50 after
For context, the average annual fee among new credit card offers from all issuers is currently $21.5, and most credit cards do not charge monthly fees.
Credit cards have annual fees to help cover the cost of rewards programs, benefits like travel insurance, and account services such as billing and customer support. Annual fees also help credit card companies profit more, especially on cards that people don’t use much. Similarly, in the case of credit cards for people with limited or bad credit, annual fees help credit card companies reduce the risk of lending to unproven borrowers.
Secured credit card fees are a lot lower than those charged by unsecured credit cards for people with bad credit. There are several secured credit cards with no annual fee, and many others won’t cost you much more than the average credit card, which charges about $16 per year. In contrast, unsecured cards for bad credit usually have a $75+ annual fee, plus a one-time fee near $90 for application processing. The tradeoff is that...
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