In other words, if you purchase the card and then use in the initial year you may be required to pay as much as $334 in account maintenance and annual charges. Additionally in contrast to a secured card, where you at some point receive the refund of the deposit for security, charges that you pay for Fortiva Fortiva credit card aren't refundable.
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With all the fees involved it's possible that you're better off with a less expensive secured card. For instance the Secured Mastercard offered by Capital One has no annual fee, monthly maintenance costs and foreign transaction charges, or fees for authorized users. You can make the security deposit that is refundable, which can be $49 (or $99 or $200) or more, and may be eligible to receive a larger credit limit once you have made the first six monthly installments punctually.
The card doesn't have a rewards program:The Fortiva card doesn't come with an rewards program, therefore it's not possible to earn points, miles or cash back on your purchases. Although that's not uncommon when it comes to cards for subprime customers, it's disappointing when you consider the expensive charges. If you're a poor creditor The Discover it Secured card may be a viable option in order to earn rewards.You'll get 2.2% cashback for up to $1,000 you spend at restaurants and gas stations every quarter, aswell with unlimited 1% cashback on other purchases. After the first year of being an account holder, Discover will match all of the cash you earn effectively increasing your rewards by a factor of. In addition, there aren't annual charges or account maintenance charges and no authorized user fee.
Doesn't Increase Credit Limit at the Request For most credit cards, it is possible to request an increase in your credit limit after a few months of responsible controlling your credit card. If you settle the balance on your statement in full and do not fail to make a payment, you'll usually be granted an increase, which will give you more power to spend and increasing the rating of credit utilization. Yet, Fortiva explicitly states in the agreement with cardholders that it is not able to accept requests for an increase in credit limit. Fortiva can decide to alter your credit limit--increaseor decrease, or eliminate it -- at anytime, but customers are not able initiate an increase by themselves. If you're looking for a credit card with more flexibility, look into this card: Blaze Mastercard. Much like the Fortiva card it is similar to the Fortiva card, but the Blaze Mastercard is unsecured. However, it does charge an annual cost however, you could be eligible for the increase of your credit limit within as little as six months.
Incented to create positive credit history
CREDIT BUILDER
It is the Fortiva card is intended for those with low credit scores. If you're in the same category and are looking for an option to get a credit card that doesn't require you to make hundreds of dollars in deposits, this may be the right choice for you. In contrast to secured cards, the Fortiva card lets you obtain a revolving line credit without having to deposit a security deposit.
Fortiva credit card Fortiva credit card comes with a variety of essential benefits that are standard in the world of credit cards:
Zero fraud liability
The history of payments is reported to the 3 major credit agencies: Equifax, Experian, and TransUnion
Fortiva credit card Fortiva credit card was provided from The Bank of Missouri. Since it is a smaller issuer The Bank of Missouri is not evaluated as a top credit card issuer in the J.D. Power Credit Card Satisfaction Study.
The card grants the ability to access your VantageScore 3.0 after your account is open during the period of 60 calendar days.
If you require customer support, call 800-245-7741, or leave an online message.
The card comes with basic features that come standard for many credit cards, such as security alerts for fraud as well as no liability protection. Additionally, it comes with an EMV chip technology that makes transactions more safe.
This card comes with an annual fee that can range from $175 to $175 in the first year, and then up to $49 per year following that, and other cards don't have an annual fees. The card also comes with the 3.3% foreign transaction charge which is not charged by using other cards. This may not be a problem in the end in the event that you plan to travel out of the U.S.
If you're in a bad financial position and would like to access an unsecure line of credit it is possible to be eligible to apply for this Fortiva credit card without having to make security deposits. Since Fortiva is able to report payments information to the three major credit bureaus, using the credit card with care can help establish an excellent credit score and boost the credit rating of your.
But, it comes with extremely high fees and doesn't offer a rewards program. If you're looking for a less expensive option , and you don't mind making an additional security deposit and a security deposit, it's the Discover it Secured Card is a great alternative. It doesn't charge an annual fees and offers points on purchases you make regularly. If you pay on time and have a low balance, Discover may refund your security deposit when they begin reviewing your accounts after the period of eight month of timely payments, and then approve you for an unsecure credit card.