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, though the amount is not disclosed. The Fortiva Credit Card also reports to the three major credit bureaus each month, so if you use it responsibly, it can help you improve your credit score and 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.
Key Things to Know About the Fortiva Credit Card
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
$27.85, 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, when available
The Fortiva Credit Card is not available to new customers right now, so you won’t be able to apply for it, unfortunately.
Normally, 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?
The Fortiva Credit Card is not a good choice because of its high interest rate and fees. The overall cost of owning the card makes it a bad option for building credit inexpensively, and there's little reason to use it if you plan to pay the bill in full every month - given the lack of rewards. Plus, the Fortiva Card is not accepting new applicants right now. 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.
