The Pros and Cons of the Fortiva Mastercard

The Fortiva Mastercard markets itself as a credit card for those with "less-than-perfect credit" who are looking for an "unsecured card." This can make it appealing to people who prefer an unsecured card to a secured card that requires an up-front security deposit. 

However, a long list of fees can make the Fortiva card an expensive one to have in your wallet. Plus, the lower your credit score, the more you can expect to pay in annual fees, maintenance fees, and interest. 

The Fortiva card is issued by the Bank of Missouri, but card services are managed by Atlanticus Services Corporation. Cardholders will see Atlanticus on their statements and other documentation.

According to reviewers, the Fortiva Mastercard has its share of pros and cons. If you're considering getting a Fortiva card, keep the following in mind.

Pros:

Eas approval - Reviewers say that just about anyone can get approved, with some reviewers saying their credit scores were as low as 400 when they applied. If you've been turned down for other cards, you might have a better chance at getting approved for a Fortiva credit card.   

Reports to credit bureaus - Atlanticus reports cardholder payments to all three credit bureaus. This is good news if you're using the card to repair your credit score, since you'll get credit for making regular on-time payments. 

Free access to credit score - Fortiva cardholders get free access to their VantageScore credit score, which can help them monitor their credit. VantageScore is a competitor of the more widely used FICO score, but the two scoring models typically don't produce much of a difference in scores.  

Cons:

High fees - The Fortiva Mastercard comes with some pretty significant fees, including an annual fee that ranges between $49 and $175 for the first year, and then drops to anywhere between $0 and $49 in subsequent years. Borrowers will also pay an account maintenance fee, late fees for missed payments, authorized user fees, and an account activation fee.  

High interest - Fortiva cardholders will also pay a variable annual percent rate (APR) that ranges between 22.74% and 36% depending on their credit score.While 22.74% interest is in line with plenty of other credit cards, the reality is that most people with very low credit scores will end up paying closer to 36%, which is quite high. 

No rewards - The Fortiva Mastercard offers no rewards, which means you don't get cash back or other perks on the purchases you make. 

Negative customer reviews - The majority of Fortiva's online reviews are quite negative. Cardholders regularly mention the card's high fees, and say they received bad customer service when interacting with the company.

Will not consider credit limit increases - In its cardholder agreement, Fortiva explicitly says "we do not accept credit limit increase requests." 

If you're considering applying for the Fortiva Mastercard, it's a good idea to review the card's full terms and conditions. From there, you should compare the Fortiva card to other cards designed for people with bad credit.