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Fortiva Credit Card Review: Is It Any Good?

Fortiva? Mastercard? Credit Card review
Key Takeaways
  • The Fortiva? Mastercard? Credit Card is an unsecured credit card with an initial credit limit between $350 and $1,000.
  • What we think: The Fortiva Mastercard Credit Card could be a good option if you’re looking to rebuild credit but may not be worth it in the long run. We like that it offers cash back and requires no security deposit. However, the fees and high interest rate make it less appealing than other credit building cards.
  • You can apply for this credit card if you receive a mail offer or by visiting the bank’s website to prequalify.
  • Variable interest rates on a Fortiva Mastercard run between 22.74% and 36% based on your credit score.
  • Annual fees run between $49 and $175 for the first year, then $0 to $49 annually thereafter.
  • After the first year, this unsecured credit card charges between $5 and $12.50 per month as an account maintenance fee.
SUMMARY

Issued by the Bank of Missouri, the Fortiva? Mastercard? Credit Card offers initial credit limits between $350 and $1,000 for those who need to build or rebuild credit. This unsecured card, however, comes at a high cost with a high purchase APR, annual fees and maintenance fees that don’t even out when balanced against its rather murky rewards program.

Before you answer a mail offer or fill out a form to prequalify for this card on the company website, let’s explore some key details:

  • The pros and cons of the Fortiva Mastercard
  • The benefits it provides
  • The rates it charges
  • How it stacks up against other credit cards for those with less-than-perfect credit
Pros & Cons

Pros

  • Potential to earn cash back
  • No security deposit needed
  • Can qualify with poor credit

Cons

  • Costly fees
  • High APR
  • Not all applicants qualify for the rewards program
Fortiva? Mastercard? Credit Card
LEARN MORE
2.4
Annual Fee?
$49-$175 the first year, then $0 to $49
Welcome Offer?
N/A
Regular APR?
22.74%-36.00% variable
Recommended Credit?
Bad/Poor (300 - 580)
EARNING REWARDS
Eligible applicants can earn 3% cash back on eligible gas, grocery, and utility bill payments, and earn 1% back on all other eligible purchases.
Show More Show Less

Is the Fortiva Credit Card worth it?

Whether the Fortiva? Mastercard? Credit Card is worth it or not depends on your financial situation and future goals. With that in mind, those who need to build or rebuild credit may find the Fortiva Mastercard a tempting choice because it’s unsecured, but this credit card has high fees that may not make it worth opening an account in the long run.

At the end of the day, you know your financial situation best, so it’s up to you to look at the advantages and disadvantages of this credit card and make a decision that fits your needs.

Consider these pros and cons before signing up for Fortiva if you receive a mail offer to open an online account with this credit card.

Pros
  • Helps those with little or imperfect credit to build or rebuild their credit score
  • Requires no security deposit when you open a Fortiva account
  • Includes free access to your credit score and reports to major bureaus
  • Ensures secure transactions with anti-counterfeiting EMV chip
  • Features 0% fraud liability and free transaction alerts
  • Has easy online account access to view transactions and pay bills
  • Offers 3%?cashback rewards on groceries, utilities and gas
  • Provides 1% cashback rewards on other qualified purchases
Cons
  • Has more expensive costs than many secured credit card?programs
  • Includes high annual fees and monthly maintenance fees the first year
  • Charges higher-than-average interest rates for those with a fair credit?score
  • Doesn’t include any introductory offers or sign-up bonuses
  • Features a 3% balance transfer fee and 3% foreign transaction fee
  • Doesn’t report your progress to alternative bureaus, like VantageScore
  • Incurs the greater of $5 or 5% fee for cash advances
  • Doesn’t allow requests to lift your credit limit with good payment history
  • Offers little transparency as to the rewards program qualification or details

Fortiva Credit Card rewards

Though this Mastercard has no reward program that lets you collect miles or points, the Fortiva card does feature a rewards program that provides cash back on purchases. For grocery, gas and utility purchases, you earn 3% cash back, then 1% cash back for other eligible purchases.

Keep in mind that this cash-back credit card pays these rewards only for purchases and not transactions like interest or fees, cash advances or balance transfers, and it only pays on completed transactions, not pending ones.?So long as you keep your account in good standing, you get your accrued rewards back as a statement credit against the balance of your purchases on the month of your account opening anniversary.

Note that not all Fortiva card holders qualify for the credit card rewards program, nor is participation guaranteed when you open an account.

Fortiva Credit Card benefits

While there might be less expensive options out there for building and rebuilding credit, this Mastercard from Fortiva provides you with a number of benefits.

This credit card has a simple application process that gives you an instant decision, and when you prequalify, you have the choice to accept or not before the company does a hard pull on your credit report.

Other benefits associated with the Fortiva Mastercard include:

1

0% fraud liability

Instant purchase notifications and zero fraud liability help protect you against unauthorized use.

See More See Less
2

Secure EMV chip

EMV chip decreases counterfeiting risks and enables tap-to-pay purchases on compatible terminals.

See More See Less
3

Online account access

Mobile and online banking, plus a digital wallet, improve your access and control of personal finances.

See More See Less
4

Monthly credit score

Your monthly statement and the Fortiva app and website display your monthly credit score.

See More See Less
5

Lower APR as your credit improves

Regular APR rates are lower based on your level of creditworthiness.

See More See Less
6

Credit bureau reporting

Reports to the three major credit bureaus—Experian, TransUnion and Equifax.

See More See Less
7

Mastercard

Good anywhere that accepts Mastercard credit cards.

See More See Less

Fortiva Credit Card fees, rates & limit

Opening a credit card account is a big decision, so it helps to understand all the terms and conditions before you commit.

Though there are benefits to opening a Fortiva account, this Mastercard also has a variety of fees in addition to higher-than-average interest rates and lower credit limits than other cards offer. This credit card also has lower-than-average opening credit limits, but it may raise them as you develop an excellent payment history with the company.

Let’s take a closer look at this information.

Fortiva Credit Card fees

One drawback of this Mastercard from Fortiva is the high fees it charges its customers, though some decrease over time as your creditworthiness improves.

These high costs include an annual fee ranging from $49 to $175, depending on your credit score, then $0 to $49 every year thereafter.

In addition to the annual fees, this Mastercard also charges an annual maintenance fee from $60 to $159, which it bills every month after the first year at a rate of $5 to $12.50 monthly. Adding an authorized user to your account incurs a $25 annual fee, and balance transfers run 3% of each transfer amount.

Other fees include 3% foreign transaction fees and the greater of $5 or 5% of each cash advance. Penalty fees for late and returned payments are $40 or the maximum fee currently permitted via Section 12 C. F. R. 1026.52(b)(1)(ii).

Fortiva Credit Card interest rates

The Fortiva interest rates are displayed in the table below.

APR Type APR Percentage
Regular APR Variable APR of 22.74% to 36%
Purchase Intro APR N/A
Balance Transfer Intro APR Variable APR of 25.74% to 36%
Cash Advance APR Variable APR of 25.74% to 36%

Read more about how credit card interest works.

Fortiva Credit Card limit

Your initial credit limit when you open a Mastercard account with Fortiva ranges between $350 and $1,000, depending on your credit score. As you build up a dependable payment history, the company may raise your credit limit to $2,000.

Though the company doesn’t allow requests for raises in your credit, it does offer them to customers in good standing, usually at six to 12-month intervals.

How the Fortiva Credit Card compares to other cards

Fortiva’s Mastercard comes up short compared to other credit options, including many secured cards.

This is because, by the time you add up all the fees plus the higher-than-average regular APR, you typically pay less for secured credit due to retaining the balance of your security account.

Worse still, the opaque rewards program doesn’t balance out the high costs of carrying the Fortiva card in your wallet.

Check out our reviews of other credit cards that may help you rebuild your credit:

Should I get the Fortiva Credit Card?

Unless you desperately need credit, you probably shouldn’t get a Fortiva Mastercard, even if you get a mail offer that says you prequalify.

This credit card might come in handy if you have emergencies or want to build or rebuild credit with no thought to the cost, but unless bad credit means you don’t qualify for better cards, this option from Fortiva doesn’t make sense if you have a fair or better credit history.

If you’re unsure about the Fortiva credit card, check out these reviews to see if another card may be a better fit for helping you build or establish credit:

Fortiva Credit Card application: How do I become a member?

There are two ways to become a member of the Fortiva credit card family — receiving a mail offer or learning more and applying online to prequalify.

Because this Mastercard is designed to help people build or rebuild credit, Fortiva is likely to approve your application even if you have a credit history that’s poor to fair.

This credit card doesn’t require a security deposit, making it an attractive option for those who want a new account but don’t want to deposit money upfront to get a secured credit card account.

FAQ: Fortiva Credit Card

Is the Fortiva card a good credit card?

Whether or not Fortiva Mastercard is a good credit card for you depends on a variety of factors. If you have bad credit, the Fortiva credit card can provide you with an alternative to secured credit cards. High fees, however, may make opening a secured credit card a cheaper option because you keep the balance you deposit when you open an account.

Is Fortiva a Visa or Mastercard?

The Fortiva credit card is an unsecured Mastercard credit card, and it’s accepted anywhere that accepts the credit card brand. As such, you have Zero Fraud Liability for purchases made without your authorization, alerts when transactions are made and lock-out protection for when you didn’t authorize a purchase. The Fortiva Mastercard also includes an EMV chip to decrease the risks of card counterfeiting.

Does Fortiva have foreign transaction fees?

Yes, this credit card charges foreign transaction fees. Fortiva cardholders are charged a 3% transaction fee for purchases in foreign currencies.

What is the highest credit limit for Fortiva?

If you want to apply for a Fortiva Mastercard online or answer a mail offer from the company, you can expect a credit limit between $350 and $1,000. With an excellent payment history, however, this credit limit may rise to $2,000 over time.

Is Fortiva for people with bad credit?

Though Fortiva isn’t specifically designed for those with bad credit, it is designed to help you build or rebuild credit. This means that the Bank of Missouri, the issuer of this Mastercard, usually approves applications for those who have poor to fair credit.

About the Author

Imogen Sharma
Imogen Sharma Finance Contributor

Imogen Sharma is an experienced writer, specializing in business, culture, and financial guidance for young adults. She has contributed to articles for Varo Bank, Lendzi, MoneyTips and Indeed, providing invaluable insights into budgeting, financial planning, and lines of credit.

As a dedicated self-employed writer, she cherishes the opportunity to share her knowledge and experience with others, offering advice so they can master their bank accounts and secure their financial futures. Her articles, published in CMSWire, Reworked, WalletGenius and The Customer, serve as actionable guides to help people make solid financial decisions.

Prior to her writing career, Imogen honed her financial acumen in management roles, excelling in P&L analysis, budgeting and HR. During her tenure at Smith & Wollensky in London, her strategic contributions contributed to a 2% increase in EBITDA over a year, demonstrating her ability to drive financial performance and organizational success.

Imogen’s writing style combines expertise with accessibility, making complex financial topics easily understandable and actionable. With a focus on the long game, she encourages readers to approach financial matters with enthusiasm and determination.

* Opinions expressed here are those of LA Times Compare and have not been reviewed or approved by any advertiser or entities included within this content. See our editorial policy for more details.

All products or services are presented in this content without warranty. The information, including card details such as rates and fees, is accurate at the time of publication. Please visit each bank's website directly for the most current information.

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