fortiva credit card.Review Right Card To Help You Build Your Credit?

The Fortiva credit card is suitable for people who want to rebuild their credit or have low credit scores that would not allow them to qualify for secured credit cards.

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However, it is an expensive credit card for credit-building, considering you have to pay a plethora of fees.

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Overview of Fortiva Credit Card

The Fortiva Mastercard credit card is an unsecured card that allows you to improve your credit.

 Since it is a strictly credit-building card, it does not offer any welcome bonus, but you can earn 3% cash back on gas, grocery and utility purchases and 1% on other purchases.

Key Feature

Here are some features of this card you should know about.

The Fortiva Credit Card has extremely high fees. One reason you may shy away from this card is that although you don't have to pay a security deposit, many other fees add up to hundreds of dollars.

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Fortiva’s Expected Fees

Annual Fee: The annual fee varies for each cardholder based on various factors. The annual fee for the first year can range anywhere from $49 to $175.

Balance Transfer Charges: Cardholders need to pay 3% of the amount for each balance transfer after the first year.

Penalty Fee: Penalty fee is charged for missed payment. The fee depends on what the law allows at the time. You can expect the fee to be up to $40.

PROS

Facilitates credit-building Does not require a security deposit Gives free access to your credit score $0 fraud liability available

CONS

High fees No bonus points options

When you add all these fees, it amounts to a few hundred dollars for your first year of holding the card. Also, all these fees are non-refundable