Rewards Plan
Welcome Bonus
Credit Rating
0% Intro
Annual Fee
APR
- Reports To Major Credit Bureaus
- Credit Limit Increase Review
- High Annual Fee
- Annual Maintenance Fee
Rewards Plan
Welcome Bonus
0% Intro
PROS
- Reports To Major Credit Bureaus
- Credit Limit Increase Review
CONS
- High Annual Fee
- Annual Maintenance Fee
APR
29.99% - 36.00%
Annual Fee
$85-$175 for the first year, $29-$49 annually thereafter
Balance Transfer Fee
3%
Credit Requirements
Poor - Fair
There are a number of credit cards on the market that are designed for those with poor credit, and the Fortiva credit card is a reasonable option. While the potential fees are high, particularly the annual fee, you don’t need to pay a deposit as you would with a secured card. It is also nice that you can receive cash back on your purchases.
However, there are other card options that offer similar benefits with no annual fee. So, if you are interested in building your credit, it may be worthwhile shopping around and don’t assume that the Fortive credit card is your best option.
- Free Access to Your Credit Score
- Reports Major Credit Bureaus
- Periodic Credit Limit Increase Reviews
- $0 Fraud Liability Guarantee
- Credit Protection
- High Annual Fee
- No Introductory APR
- No rewards or Welcome Bonus
- Annual Maintenance Fee
What are card income requirements?
There are no official income requirements, but Fortiva will evaluate your income along with other financial circumstances to determine your credit limit and annual fee.
Can I get pre-approved?
Fortiva does offer pre approval, but it tends to be reserved for those who are responding to an offer for the card. So, you may receive a mailer or other promotional material offering pre approval.
How do I redeem rewards?
Unfortunately, Fortiva doesn't offer rewards or bonuses for cardholders.
In this Review
Pros and Cons
Similar to other credit cards on the market, the Fortiva card has its own set of pros and cons
Pros | Cons |
|---|---|
Free Access to Your Credit Score | High Annual Fee |
Reports to All Three Major Credit Bureaus | Annual Maintenance Fee |
Periodic Credit Limit Increase Reviews | No Introductory APR |
$0 Fraud Liability Guarantee | No rewards or Welcome Bonus |
Credit Protection |
- Free Access to Your Credit Score
Your FICO score will be printed on each of your monthly statements. You can also access your score at any time via the website or app.
This makes it easier to see how your actions are impacting your score, which is particularly important if you are taking steps to build or rebuild your credit.
- Reports to All Three Major Credit Bureaus
While there are a number of credit cards designed for those with poor credit, you do need to watch out for whether they report to all three of the major credit bureaus. There are some cards that only report to one or two bureaus, which is not efficient for building your credit score.
Fortunately, the Fortiva credit card reports your payment activity to all three, which is crucial for your ongoing credit building journey.
- Periodic Credit Limit Increase Reviews
As a Fortiva cardholder, you will have periodic reviews for a credit limit increase. This can help to increase your credit score, as your credit utilization ratio will be lowered, since you’ll have more available credit. The credit limit on this card can be as high as $2,000, depending on your eligibility.
The review may also provide an opportunity to graduate to a different product or access fee reductions.
- Credit Protection
Fortiva credit cardholders can benefit from an optional credit protection program. This covers the minimum payments owed up to six months should you become disabled, unemployed or hospitalized. Should you lose your life, this program will cancel all or a portion of the outstanding debt up to the policy limit.
This is a paid option, with the current cost of 89 cents per $100 in outstanding balance.
- High Annual Fee
Depending on the specific terms offered, the Fortiva credit card has some potentially hefty fees. Its annual fee could be as much as $175, which is very high for credit building cards.
Additionally, late payment fees, authorized user fees and more can quickly add up the costs of your new card.
- Annual Maintenance Fee
The annual maintenance fee varies based on your creditworthiness, ranging from $60 to $159 per year for account maintenance. This makes the card very expensive overall.
- No Introductory APR
Since this is a card aimed at helping people to retake control of their finances, it is surprising that it does not offer an introductory APR for balance transfers to the account.
- No rewards or Welcome Bonus
There are other United cards that offer both rewards and welcome bonuses for less-than-perfect credit customers.
In this case, Fortive cardholders are not eligible either for rewards or welcome bonuses.
- $0 Fraud Liability Guarantee
This is a fairly standard feature, but it is still reassuring to know that you’ll not be held responsible for any unauthorized or fraudulent transactions on your account.
Fortiva will also send notifications to your mobile device for any purchases to the account. This provides an instant alert to any transactions you didn’t authorize.
Is the Fortive Credit Card Right for You?
This card is designed for those who have poor credit and would struggle to qualify for another type of card. The card features provided have been collated to provide a toolkit to aid those on a credit-building journey. This includes access to FICO scores, reporting to all three credit bureaus, and periodic credit limit increase reviews.
The card could also be a good option for those who have less-than-ideal credit, but don’t want to pay a deposit for a secured credit card. If you still want to compare credit-building cards, here's an overview:
Card | Rewards | Bonus | Annual Fee |
| 1-2%
2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and unlimited 1% cash back on all other purchases
| Match Bonus
Discover automatically matches the cash back you've earned at the end of your first year, no limits
| $0 |
|---|---|---|---|---|
| None | None | $0 | |
| None | None | $0 | |
| 1.5%
1.5% cash back on payments
| $200 | $0 | |
| 1.5%
1% cash back on all purchases, 1.25% after 6 months of on time payments, and 1.5% after 12 months of on time payments
| None | $0 |
Tips for Using the Fortiva Card
Building or rebuilding your credit can be a challenge and when used to its full value, the Fortiva credit card could help. So, here are a few tips to help you get the most from this card.
-
Stick to a Repayment Plan
This is a good strategy with all credit cards, but it is particularly important since the APR is quite high on the Fortiva card.
Bear in mind that the annual fee will be billed to the card, so you should plan to pay this off immediately so you don’t pay interest charges on the fee.
-
Don’t Use Up Your Credit Limit Increase
Although it may be tempting to splash out on a larger purchase if you get a credit limit increase, avoid this. A credit limit increase will improve your credit utilization ratio, as you’ll have more available credit.
-
Keep a Check on Your FICO Score
One of the main advantages of this card is that you can have free access to your FICO score. Monitoring your score can be a great motivator when you are feeling a little down about your credit score journey.
You can watch for positive changes to your score that are a direct result of your actions.
FAQs
How hard is it to get a Fortiva credit card?
The Fortiva credit card is available to those with poor or bad credit, so there should be no difficulty getting the card.
Just bear in mind that your financial circumstances will be used to determine your credit limit, annual fee and other terms upon approval.
When it may not be a good idea?
This card may not be a good idea if you don’t want to pay an annual fee. Although there are lower annual fee options, these are determined by your credit profile and card limit.
So, it is worth researching poor credit cards that have little or no annual fee, while still offering rewards and credit building benefits.
