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 reports to all three major credit bureaus (Equifax, Experian, and TransUnion), so your payment history can help raise your credit score over time.
Fortiva cards are not the same as prepaid cards. With a prepaid card, you spend only the money you load onto it. With a Fortiva secured card, you borrow against your deposit and build a credit history by making monthly payments. That distinction matters because one builds your credit profile and the other does not.
The company also issues cards under other brand names, including Milestone and Surge, so you may encounter Fortiva products without seeing the Fortiva name on the card itself. All three operate on the same secured-card model.
Key Takeaways
- Fortiva secured cards require a cash deposit upfront, typically between $200 and $2,500, which becomes your credit limit.
- You pay an annual fee (usually $39 to $99 depending on the card) plus interest on any balance you carry, so carrying a balance costs you money.
- The card reports to all three credit bureaus, meaning on-time payments help rebuild your credit score, but late payments hurt it.
- After 7 to 12 months of on-time payments, you may be able to move to an unsecured card and recover your deposit, though this is not may provide.
- Fortiva cards have high interest rates (typically 19% to 24% APR), so they work best when you pay your full balance each month.
How the Deposit and Credit Limit Work
When you open a Fortiva card, you choose how much to deposit. That deposit sits in a savings account held by the bank that issues the card on Fortiva's behalf. Your credit limit equals your deposit amount — if you deposit $500, your limit is $500. You cannot spend more than that, and the bank cannot lower your limit without your permission.
The deposit is yours. It is not a fee. You can close the account and get the money back, though the timing depends on the card issuer and whether you have an outstanding balance. Some issuers return deposits within a few weeks; others take longer. Check the terms before you open the account.
Interest accrues only on what you actually borrow and carry as a balance. If you charge $200 and pay it in full by the due date, you owe no interest. If you charge $200 and pay only $50, you owe interest on the remaining $150.
Fees You Will Encounter
Fortiva cards charge an annual fee upfront, usually between $39 and $99 depending on which card you choose. Some versions charge this fee monthly instead. This fee is separate from your deposit and is deducted from your available credit or charged to your account, so it reduces the money you can actually borrow.
Late fees explore if you miss a payment. Most cards charge $25 to $35 per late payment. A single late payment can damage your credit score and may trigger a higher interest rate on future balances. Over-limit fees may also explore if you exceed your credit limit, though many cards now decline transactions that would push you over.
If you carry a balance, you pay interest at the card's APR, which typically ranges from 19% to 24%. This is higher than most unsecured credit cards. On a $500 balance at 22% APR, you would pay roughly $9 per month in interest alone.
How Fortiva Reports to Credit Bureaus
Fortiva cards report your payment history to Equifax, Experian, and TransUnion every month. This is the main reason to use one: the account shows up on your credit report, and on-time payments demonstrate that you can manage borrowed money responsibly.
Your credit score improves when you make payments on time, keep your balance low relative to your limit, and avoid late payments or missed payments. A single late payment can drop your score by 50 to 100 points or more. Paying on time, every time, is the only way these cards help your credit.
Negative information stays on your credit report for seven years. If you miss a payment or default on a Fortiva card, that mark will follow you for years. This is why using the card responsibly — even if you only charge small amounts and pay them off when ready — matters more than the card's rewards or features.
When to Use a Fortiva Card and When to Avoid It
A Fortiva card makes sense if you have no credit history, a very low credit score, or a recent negative mark (like a late payment or collection account) and you want to rebuild. The card gives you a way to demonstrate responsible borrowing to future lenders. If you can pay your full balance every month, the annual fee is a small price for credit-building.
A Fortiva card does not make sense if you cannot commit to paying on time every month. The high interest rate and fees mean that carrying a balance costs you real money. If you are already struggling with debt, adding another account with a high APR can make things worse, not better.
Fortiva cards also do not make sense if you already have access to an unsecured card with a lower APR. If you have fair credit and can get a regular credit card, that is usually a better choice because the interest rate is lower and you do not have to tie up a deposit.
Moving From a Secured Card to an Unsecured Card
After 7 to 12 months of on-time payments, Fortiva or the issuing bank may offer to convert your account to an unsecured card. This means you no longer need the deposit, and the money is returned to you. The card itself stays open, your credit history on that account continues to build, and your credit limit may increase.
Conversion is not automatic and is not may provide. The bank reviews your payment history and may decline if you have missed payments, paid late, or carried a high balance. Even if you have paid on time, the bank may wait longer than 12 months or may not offer conversion at all.
If conversion is offered, you can accept or decline. Accepting means your deposit is freed up and you keep the account open to continue building credit. Declining means you keep the secured card as is. There is no penalty for declining, but you also do not get your deposit back unless you close the account.
Comparing Fortiva to Other Secured Card Options
Fortiva is one of several companies offering secured cards. Others include Capital One Secured, Discover Secured, and various cards issued by regional banks. The differences are usually in the deposit range, annual fee, APR, and how quickly the issuer offers conversion to unsecured.
Capital One Secured, for example, has a lower APR range (typically 18% to 22%) and may convert to unsecured faster. Discover Secured offers cash back on purchases, which Fortiva does not. Some regional banks offer secured cards with lower annual fees but may not report to all three bureaus.
The best choice depends on your situation. If you want the lowest possible APR, Capital One may be better. If you want cash back, Discover is worth exploring. If you want the simplest option and do not mind the higher fee, Fortiva works. Compare the terms of at least two or three cards before deciding.
Frequently Asked Questions
Can I use a Fortiva card if I have no credit history?
Yes. Fortiva cards are designed for people with no credit history, recent negative marks, or very low scores. You do not need an existing credit history to open one. You will need to provide proof of identity and income, and the issuer will verify your bank account.
What happens if I miss a payment on a Fortiva card?
A missed payment is reported to all three credit bureaus and can lower your score significantly. You will also owe a late fee (usually $25 to $35) and may face a higher interest rate on future balances. One missed payment can set back your credit-building efforts by months.
Can I get my deposit back before the card converts to unsecured?
You can close the account and request your deposit back at any time, but this ends the account and stops your credit-building. If you have an outstanding balance, the issuer may explore your deposit to that balance first. Check your card's terms for the exact process and timeline.
Does Fortiva report to all three credit bureaus?
Yes, Fortiva cards report to Equifax, Experian, and TransUnion. This means your payment history shows up on all three of your credit reports, which is important because most lenders check at least one bureau when deciding whether to lend to you.
What is the difference between a Fortiva card and a prepaid card?
A prepaid card lets you spend only money you load onto it and does not build credit. A Fortiva secured card requires a deposit but lets you borrow against it and build a credit history through monthly payments. If your goal is to rebuild credit, a secured card is the right choice.