What Fortiva Credit Cards Are
Fortiva is a financial services company that issues credit cards designed for people rebuilding credit or working with a limited credit history. Their cards come with a deposit requirement — you put money down upfront, and that deposit becomes your credit limit. The card itself works like any other: you charge purchases, receive a monthly statement, and pay a bill. The difference is that Fortiva reports your payment history to the three major credit bureaus (Equifax, Experian, and TransUnion), which means on-time payments can help raise your credit score over time.
Fortiva operates under the Comenity Bank brand and also issues cards under other names you may see advertised. The company's main business is lending to people who don't yet may have access to for traditional unsecured credit cards. That's the trade-off: you pay a deposit to prove you're serious, and Fortiva takes on less risk because they're holding your money as collateral.
Key Takeaways
- Fortiva secured cards require a cash deposit that becomes your credit limit, typically ranging from $200 to $2,500 depending on the card product.
- Annual fees vary by card and can range from $0 to around $99, so compare the specific product before you commit.
- On-time payments are reported to all three credit bureaus, which is how the card helps your credit score improve.
- After 6 to 18 months of responsible use, some cardholders can graduate to an unsecured card or have their deposit returned.
- Interest rates on Fortiva cards are higher than rates for people with good credit, typically in the 18% to 24% range.
How the Deposit Works and What It Costs
When you open a Fortiva secured card, you send the company a deposit — usually between $200 and $2,500. This money sits in a savings account that Fortiva holds. Your credit limit equals your deposit amount. So if you deposit $500, you get a $500 credit limit. The deposit is yours; Fortiva is not keeping it as a fee. You can withdraw it later, though the card terms spell out when and under what conditions.
What you do pay for is the annual fee. Fortiva's cards charge annual fees that vary by product — some cards have no annual fee, while others charge $25, $50, or $99 per year. This fee comes out of your own money, not your deposit. Before you open an account, check which specific Fortiva card you're looking at, because the fee structure differs. A $99 annual fee on a $200 deposit is a much bigger percentage than the same fee on a $2,500 deposit.
Interest rates on Fortiva cards are also higher than what people with established credit pay. Most secured cards from Fortiva carry an APR (annual percentage rate) somewhere between 18% and 24%. That means if you carry a balance, interest charges add up quickly. The real benefit of a secured card is not to carry a balance — it's to charge small amounts, pay them off in full each month, and build a record of on-time payments.
How Fortiva Reports to Credit Bureaus
Fortiva reports your account activity to Equifax, Experian, and TransUnion every month. This is the core reason to use the card: the payment history shows up on your credit report and factors into your credit score. If you pay your bill on time every month, that positive history accumulates. If you miss a payment, that negative mark also goes on your report and can hurt your score.
The reporting happens automatically — you don't have to do anything special. Your monthly statement shows your balance, your payment due date, and your minimum payment. As long as you pay at least the minimum by the due date, that payment gets reported as on-time. Paying in full is better for your score than paying the minimum, because it keeps your credit utilization low (the percentage of your limit you're actually using).
One thing to watch: some secured cards report to all three bureaus, while others may report to only one or two. Before you open an account, confirm that Fortiva's specific card product reports to all three. This matters because your credit score is calculated differently by each bureau, and lenders may check any of them.
When You Might Graduate to an Unsecured Card
After you've used a Fortiva secured card responsibly for a period of time — usually 6 to 18 months, depending on the card — the company may offer to convert your account to an unsecured card. This means you no longer need the deposit. Fortiva returns your money, and you keep the card with a new credit limit based on your payment history and current creditworthiness.
Graduation is not automatic. Fortiva looks at your payment history, how much of your limit you typically use, and whether you've had any late payments. If you've paid on time every month and kept your balance low, you're a good candidate. If you've missed payments or maxed out the card, you may not be offered graduation, or it may take longer.
When graduation happens, your credit report changes too. An unsecured card is seen as a stronger sign of creditworthiness than a secured card, so the upgrade can give your credit score a boost. However, you lose the deposit as collateral, so Fortiva is taking on more risk — which is why they only do this for people who've proven they can handle credit responsibly.
Comparing Fortiva to Other Secured Card Options
Fortiva is not the only company offering secured cards. Capital One, Discover, and several banks and credit unions also issue them. The main differences come down to deposit requirements, annual fees, interest rates, and how quickly you can graduate to an unsecured card.
Capital One's Secured Mastercard, for example, has no annual fee and reports to all three bureaus. Discover's secured card also has no annual fee. Some credit unions offer secured cards with lower interest rates and lower or no annual fees, but they may require you to be a member first. The trade-off is that credit union cards may not report to all three bureaus, or they may have stricter membership requirements.
Before you choose Fortiva, spend 10 minutes comparing the specific card product to one or two alternatives. Look at the annual fee, the interest rate, the minimum deposit, and whether the card reports to all three bureaus. A card with no annual fee and a lower interest rate will cost you less money over time, even if the deposit requirement is slightly higher.
How to Use a Fortiva Card Without Hurting Your Credit
The goal of a secured card is to build credit, not to carry debt. Here's how to use it in a way that actually helps your score: charge a small amount each month — maybe $20 to $50 — and pay it off in full before the due date. This shows lenders that you can handle credit responsibly without costing you money in interest.
Keep your balance well below your credit limit. Credit utilization — the percentage of your available credit that you're actually using — makes up about 30% of your credit score. If your limit is $500 and you charge $450, your utilization is 90%, which hurts your score. If you charge $50, your utilization is 10%, which helps it. The lower the better.
Set up automatic payments if you can. Many people miss payment important date by accident, not intention. If you set your card to pay the full balance automatically on the due date, you remove that risk. Even one missed payment can set back your credit-building progress by months.
Red Flags and What to Avoid
Some secured card offers come with hidden costs or misleading terms. Watch out for cards that charge high upfront fees beyond the annual fee — some predatory products charge "processing fees" or "setup fees" that eat into your deposit. Legitimate secured cards from Fortiva, Capital One, and major banks do not do this.
Also be cautious of any card that does not report to all three credit bureaus. If the card only reports to one bureau, you're building credit history in only one place, which limits how much your score can improve. Ask the company directly before you open an account.
Finally, avoid the trap of opening multiple secured cards at once. Each process triggers a hard inquiry on your credit report, which can temporarily lower your score. If you're denied by one company, wait a few months before trying another. One secured card used responsibly will do more for your credit than three cards opened in quick succession.
Frequently Asked Questions
Can I use a Fortiva card right away after I open it?
Yes. Once your deposit clears and your account is activated, you can use the card to make purchases. This usually takes a few business days. You'll receive your physical card in the mail, but many Fortiva cards can be used online or added to a digital wallet before the physical card arrives.
What happens to my deposit if I close the card?
Fortiva returns your deposit to the bank account you provided, usually within 7 to 10 business days of closing the account. If you've graduated to an unsecured card, there is no deposit to return — you already got it back when the card was converted. If you close the card while it still has a balance, Fortiva will use your deposit to pay down that balance first.
Will a Fortiva card hurt my credit score when I open it?
Opening any new credit account triggers a hard inquiry, which can lower your score by a few points temporarily. However, the new account also adds to your credit mix, which is positive. Over time, as you make on-time payments, the positive impact outweighs the initial dip. Most people see their score improve within 3 to 6 months of responsible use.
Can I increase my credit limit on a Fortiva card?
Yes, but usually by depositing more money. Some Fortiva cards allow you to increase your deposit and therefore your credit limit after you've had the card for a certain period and made on-time payments. You cannot increase your limit without increasing your deposit — the deposit is what sets the limit.
What's the difference between a Fortiva card and a regular credit card?
A regular credit card is unsecured, meaning the company is lending you money based on your creditworthiness alone. A Fortiva secured card requires a deposit because you don't yet have the credit history to may have access to for unsecured credit. Once you build that history, you can graduate to unsecured cards with better terms.