Credit Cards
Fortiva® Mastercard® Credit Card: Up to 3% Cashback!
No security deposit and cashback rewards sound great, but does the Fortiva® Mastercard® justify its costs? Dive into our detailed review before you decide.
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Should You Get the Fortiva® Mastercard®? Here’s What You Need to Know
If your credit score has seen better days and you’re looking for a way to bounce back, the Fortiva® Mastercard® Credit Card might just be your ticket.
Unlike secured cards, it doesn’t require a deposit, and it even throws in some cashback rewards to sweeten the deal.
But before you get too excited, keep in mind that this card comes with steep fees and high interest rates—so using it wisely is key.
| Key Highlights of this Credit Card 🔎 |
|---|
| ✔ No security deposit required |
| ✔ Cashback rewards on essential purchases |
| ✔ Reports to all three major credit bureaus |
| ✖ High annual and maintenance fees |
| ✖ Elevated interest rates |
Fortiva® Mastercard® Main Features
| Feature | Details |
|---|---|
| Annual Fee | $85 – $175 (first year); $29 – $229 thereafter |
| Other Fees | Balance Transfer: 3% Cash Advance: $10 or 5% (whichever is greater) Foreign Transaction: 3% |
| Credit Limit | Variable, typically up to $1,000 |
| APR | 29.99% or 36.00%, depending on your creditworthiness. |
| Interest Rate | High compared to traditional credit cards |
| Welcome Bonus | None |
| Rewards Program | 3% cashback on gas, groceries, and utilities; 1% on all other eligible purchases |
| Benefits | No deposit required; credit-building opportunities; Zero Fraud Liability |
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Fortiva Mastercard: An Overview
The Fortiva Mastercard is issued by The Bank of Missouri, a reputable institution known for offering credit solutions to individuals who might struggle to get approved elsewhere.
This card is specifically designed for those with less-than-perfect credit who need a second chance.
Since it’s an unsecured card, there’s no need to put down a security deposit.
However, the trade-off comes in the form of high fees and steep interest rates, so it’s best suited for responsible users who can pay their balance in full each month.
Who Should Consider the Fortiva® Mastercard®?
Choosing the right credit card is like picking the perfect pair of shoes—you want something that fits your needs and won’t give you blisters down the road.
The Fortiva Mastercard is ideal for those who need a financial fresh start but don’t want to (or can’t) put down a security deposit. This card is best suited for:
- 👍 People with fair or poor credit scores who need a second chance to rebuild their financial standing.
- 👍 Shoppers who spend on essentials like groceries, gas, and utility bills—since you’ll earn cashback rewards on these everyday purchases.
- 👍 Individuals who prefer an unsecured card over a secured one, meaning no deposit is required upfront.
That said, this card isn’t the best fit for everyone. If you tend to carry a balance month to month, those high APRs can rack up interest fast.
Also, if you’re looking for a card with a low (or no) annual fee, there are other options that might better suit your wallet.
What You Need to Qualify for the Fortiva® Mastercard®
Before you apply, it’s important to understand what it takes to get approved for the Fortiva Mastercard.
- Minimum Credit Score: Generally, applicants with scores below 640 stand a better chance of getting approved.
- Stable Income: A steady source of income increases your likelihood of acceptance.
- Debt-to-Income Ratio: If you already have a high level of debt compared to your income, approval could be challenging.
Pro Tips to Boost Your Approval Odds:
- Pay down existing debt before applying.
- Check your credit report for errors that could be dragging your score down.
- Only apply if you meet the basic requirements to avoid unnecessary hard inquiries.
How to Apply for the Fortiva Mastercard: Step-by-Step
Applying for the Fortiva Mastercard is simple, but it’s always best to go in prepared.
Checking for pre-qualification first can help you gauge your approval chances without affecting your credit score. Here’s what to do:
- Visit the Official Fortiva Website and locate the credit card section.
- Check for Pre-Qualification to see if you’re eligible without a hard inquiry.
- Complete the Application, providing your personal details, income, and financial background.
- Submit Your Application and wait for a response, which can take a few minutes to a few days.
- If Approved, Receive Your Card in the mail within 7-10 business days.
- Activate Your Card and use it wisely to rebuild your credit profile.
Credit Limit & Card Functionality
Knowing how your credit limit works can help you manage this card effectively.
- How Your Credit Limit is Set: The issuer determines your credit limit based on your credit history and income. The initial credit limit for Fortiva is usually up to $1,000.
- Ways to Increase Your Credit Limit:
- Make consistent on-time payments for at least 6-12 months.
- Keep your utilization low (ideally under 30%).
- Avoiding Costly Interest: If possible, pay off your balance in full every month to dodge those sky-high interest rates.
Tools & Customer Support
The Fortiva Mastercard comes with a few handy tools to help you stay on top of your finances.
- Mobile App & Online Access: Check balances, track spending, and make payments on the go.
- Fraud Protection: Get alerts for suspicious activity and unauthorized transactions.
- Customer Support: Reach out via phone or online chat for any assistance you may need.
Battle of the Credit Builders: Fortiva® vs. Discover it®
If you’re looking to build credit but aren’t sold on the Fortiva Mastercard, the Discover it® Secured Credit Card might be worth considering. Here’s a side-by-side comparison:
| Feature | Fortiva Mastercard | Discover it® Secured |
|---|---|---|
| Security Deposit | No deposit required | $200 minimum deposit |
| Rewards | 3% cashback on gas, groceries, and utilities; 1% on other purchases | 2% cashback at gas stations and restaurants, 1% on all purchases |
| Annual Fee | $85 – $229 | $0 |
| APR | 29.99% – 36% | 27.99% variable |
| Reports to Credit Bureaus | Yes | Yes |
| Ideal for | Bad credit borrowers needing an unsecured option | Those comfortable with a deposit for better long-term rewards |
The Fortiva Mastercard is a decent option if you don’t want to tie up funds in a security deposit.
However, if you can afford a deposit and want a lower-cost, high-reward option, the Discover it® Secured Card may be the better pick.
Discover it® Secured Credit Card review
Boost your credit score the smart way! The Discover it® Secured Credit Card gives you cashback, no annual fee, and a shot at an upgrade.
Is the Fortiva® Mastercard® Worth It? Let’s Wrap It Up
The Fortiva® Mastercard® Credit Card can be a lifeline for credit rebuilders, but it’s not without its downsides.
If you need an unsecured option and are disciplined about paying your balance in full, this card could help you get back on track.
However, with its high fees and APR, you might want to explore other options—especially secured cards that offer lower costs and better rewards.
Think carefully, compare your options, and choose the card that best suits your financial goals!
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