fortivacreditcard com

September 2, 2024

The Fortiva Credit Card, accessible through Fortivacreditcard.com, is a financial product designed primarily for individuals with less-than-perfect credit. Issued by The Bank of Missouri, it is marketed as an unsecured credit card option for those who may struggle to qualify for traditional credit cards due to their credit history. This article will explore the features, benefits, drawbacks, and overall utility of the Fortiva Credit Card.

### Understanding the Fortiva Credit Card

The Fortiva Credit Card is part of a broader financial product lineup provided by Fortiva, a brand that specializes in lending to individuals who have lower credit scores. Unlike secured credit cards that require an upfront security deposit, the Fortiva Credit Card is unsecured, meaning users do not need to provide collateral to obtain credit. However, the card compensates for the lack of security with higher fees and interest rates.

#### Key Features

1. **Credit-Building Tool**: The Fortiva Credit Card is targeted at consumers with poor or no credit history, making it a viable option for those looking to rebuild their credit score. By making timely payments, users can improve their credit profile as Fortiva reports to all three major credit bureaus—Experian, TransUnion, and Equifax.

2. **No Security Deposit**: One of the main selling points of the Fortiva Credit Card is that it does not require a security deposit. This feature makes it more accessible to individuals who may not have the funds for an upfront deposit but need a credit line to manage expenses and rebuild their credit.

3. **Cash Back Rewards**: Despite being geared toward those with poor credit, the Fortiva Credit Card offers cash back rewards. Users can earn up to 3% cash back on eligible purchases, such as gas, groceries, and utility bill payments, and 1% on all other purchases. This can be a significant benefit for those who use their card regularly for these everyday expenses.

4. **Prequalification Process**: Fortiva offers a prequalification process, allowing potential applicants to check if they qualify for the card without impacting their credit score. This feature is particularly useful for individuals who are cautious about applying for new credit and want to avoid unnecessary credit inquiries.

5. **Online Account Management**: Cardholders can manage their accounts online through the MyFortiva portal. This feature includes tools for viewing transactions, making payments, and monitoring account activity. The online platform is user-friendly, making it easier for cardholders to stay on top of their financial obligations.

6. **Mastercard Acceptance**: As a Mastercard, the Fortiva Credit Card is widely accepted both domestically and internationally, giving users flexibility in their spending.

### Fees and Interest Rates

While the Fortiva Credit Card offers some attractive features, it comes with a range of fees that potential users should carefully consider before applying.

1. **Annual Fee**: The Fortiva Credit Card carries a high annual fee, which can range from $49 to $175 during the first year, depending on the applicant's credit profile. After the first year, the fee drops to a range of $0 to $49 annually.

2. **Monthly Maintenance Fees**: In addition to the annual fee, the card may also include a monthly maintenance fee. This fee can range from $5 to $12.50 per month, which equates to an additional $60 to $150 annually. However, this fee is often waived for the first year.

3. **High APR**: The Fortiva Credit Card has a relatively high Annual Percentage Rate (APR) for purchases, ranging from 22.74% to 36%. This can make carrying a balance on the card expensive, so it is advisable for users to pay off their balances in full each month to avoid accruing interest.

4. **Foreign Transaction Fees**: For those who plan to use the card internationally, it is important to note that the Fortiva Credit Card charges a foreign transaction fee of 3% on purchases made outside of the United States.

5. **Late and Returned Payment Fees**: Like many credit cards, Fortiva charges fees for late payments (up to $40) and returned payments (up to $29). These fees can add up quickly if cardholders are not diligent in making timely payments.

### Customer Experience

Customer reviews for the Fortiva Credit Card are mixed, with some praising its accessibility for those with poor credit, while others criticize its high fees and interest rates.

1. **Customer Service**: Fortiva provides customer service through various channels, including phone and online support. However, some users have reported long wait times and difficulties in resolving issues with customer service representatives. It is recommended that users take advantage of the online account management tools to handle routine inquiries and payments, reducing the need for direct customer service interactions.

2. **Mobile App**: Fortiva offers a mobile app that allows users to manage their accounts on the go. The app provides features similar to the online portal, including viewing transactions, making payments, and checking available credit. Reviews of the app are generally positive, with users appreciating the convenience it offers.

3. **Approval Process**: Many users appreciate the quick approval process, especially after prequalification. The acceptance code, which can be entered online during the application process, is a critical part of this, as it allows applicants to proceed without delay if they meet the eligibility criteria.

### Is the Fortiva Credit Card Right for You?

The Fortiva Credit Card may be a good option for individuals who have poor credit and are looking for a way to rebuild their credit score. Its unsecured nature and lack of a security deposit make it more accessible than some other credit-building options. Additionally, the cash back rewards program is a rare feature in credit cards targeting subprime borrowers.

However, the card's high fees and interest rates mean that it may not be the best choice for everyone. Potential applicants should carefully evaluate their financial situation and consider whether they can afford the associated costs. Those who plan to carry a balance or frequently use the card for foreign transactions might find the fees prohibitively expensive.

### Alternatives to Consider

For those who find the fees and interest rates of the Fortiva Credit Card too high, there are other options available:

1. **Secured Credit Cards**: While these require a security deposit, they often come with lower fees and interest rates. Secured cards from reputable issuers like Discover or Capital One can also help rebuild credit and may offer better long-term value.

2. **Credit Builder Loans**: These loans are specifically designed to help individuals build or rebuild their credit. They work by placing the loan amount in a savings account, which the borrower cannot access until they have paid off the loan. Payments are reported to the credit bureaus, helping to improve credit scores over time.

3. **Other Unsecured Cards**: There are other unsecured cards for individuals with poor credit that may offer lower fees or better terms than the Fortiva Credit Card. Researching and comparing options is key to finding the right card for your needs.

### Conclusion

The Fortiva Credit Card, accessible through Fortivacreditcard.com, offers a pathway for individuals with poor credit to rebuild their financial standing. Its unsecured nature and cash back rewards are appealing features, but the high fees and interest rates require careful consideration. For those who are disciplined in managing their credit and can afford the associated costs, the Fortiva Credit Card can be a useful tool in improving credit scores. However, it is essential to explore all options and choose the financial product that best fits your individual needs and circumstances.