Atlas Credit Card basics
The Atlas Credit Card is a credit card issued by Fortiva Bank, designed for people rebuilding credit or with limited credit history. It functions like a standard credit card — you charge purchases, receive a monthly statement, and pay a balance — but it requires a cash deposit upfront that serves as your credit limit.
The deposit amount you choose becomes your spending limit. If you deposit $500, your credit limit is $500. You hold the deposit in a separate account while you use the card, and after you demonstrate responsible payment over time, the card may convert to an unsecured card and the deposit returns to you.
Atlas reports your payment activity to all three major credit bureaus — Equifax, Experian, and TransUnion — which means on-time payments build your credit history. Late or missed payments also report, so the card works both ways: it can help your score or hurt it depending on how you use it.
Key Takeaways
- Atlas is a secured credit card that requires a cash deposit equal to your credit limit, with deposits ranging from $300 to $5,000.
- The card reports to all three credit bureaus, so consistent on-time payments can improve your credit score over months of use.
- Atlas charges an annual fee of $48, plus interest on any balance you carry month to month.
- After 7 to 12 months of on-time payments, you may be able to convert to an unsecured card and recover your deposit.
- You need to be at least 18 years old and a U.S. resident with a valid Social Security number to open an account.
How the deposit and credit limit work
When you open an Atlas account, you choose a deposit amount between $300 and $5,000. That deposit sits in a savings account held by Fortiva Bank. Your credit limit equals your deposit — if you deposit $500, you can charge up to $500 on the card.
The deposit is yours. You own it and earn a small amount of interest on it (the rate varies). You cannot spend it directly, but it secures the card and protects the bank if you stop paying. As long as your account is open and in good standing, the deposit remains untouched in that savings account.
If you close the account or convert to an unsecured card after meeting the bank's conditions, your deposit returns to you. If you default on the card — meaning you stop paying and the account goes to collections — the bank may use the deposit to cover what you owe.
Fees and interest charges
Atlas charges an annual fee of $48, which is higher than many competing secured cards. This fee is charged once per year and appears on your statement.
If you carry a balance from month to month instead of paying it off in full, you pay interest on that balance. The interest rate (called the APR, or annual percentage rate) varies depending on your creditworthiness and current market conditions. Atlas typically charges between 18% and 24% APR, though your actual rate depends on your credit profile at the time you open the account.
There are no foreign transaction fees if you use the card abroad, and no penalty fees for late payments — though a late payment itself still damages your credit score and may trigger interest charges on your balance.
Building credit with Atlas
The main reason to use Atlas is to build or rebuild your credit history. Every month, your payment activity reports to Equifax, Experian, and TransUnion. If you pay on time, those bureaus record a positive payment. Over months of on-time payments, your credit score typically rises.
To maximize credit-building, charge small amounts regularly and pay them off in full each month. This shows lenders you can manage credit responsibly without paying interest. For example, you might charge $50 per month and pay the full $50 before the due date. The card reports the activity, but you avoid interest charges.
Most people see measurable score improvement within 3 to 6 months of consistent on-time payments. The longer you maintain the account and pay on time, the more your score typically improves. After 7 to 12 months of good payment history, you may receive an offer to convert to an unsecured card, at which point your deposit is returned.
Who can open an Atlas account
You must be at least 18 years old, a U.S. resident, and have a valid Social Security number. You also need a checking or savings account to link for the deposit transfer and monthly payments.
Atlas does not require a minimum credit score to open an account, which is why it appears in the bad credit category. The bank does perform a soft credit check (which does not lower your score) and may check ChexSystems, a banking history database, to see if you have had problems with previous bank accounts.
If you have been denied a bank account in the past due to ChexSystems issues, you may be denied for Atlas. Otherwise, the card is designed to be reachable for people with no credit history, poor credit, or recent financial problems.
Comparing Atlas to other secured cards
Several other banks offer secured credit cards with similar structures. The main differences come down to deposit range, annual fee, interest rate, and the timeline to conversion.
| Card | Deposit Range | Annual Fee | Typical APR |
|---|---|---|---|
| Atlas | $300–$5,000 | $48 | 18%–24% |
| Capital One Secured | $200–$2,500 | $0 | 26.99% |
| Discover Secured | $200–$2,500 | $0 | 20.99% |
| OpenSky | $200–$3,000 | $35 | 18.99% |
Atlas's $48 annual fee is higher than cards with no annual fee, but lower than some alternatives. The interest rate sits in the middle range. The $300 minimum deposit is higher than Capital One or Discover, but the $5,000 maximum is higher than most competitors, which matters if you need a larger credit limit.
The best choice depends on your situation. If you want to avoid an annual fee, Capital One or Discover may be better. If you need a higher deposit limit or prefer a lower interest rate, Atlas or OpenSky may suit you better. Compare based on your deposit amount, how long you plan to carry a balance, and whether you value a lower annual fee or lower interest rate more.
How to open an Atlas account
You can open an Atlas account online through Fortiva Bank's website. The process takes about 10 to 15 minutes and requires basic information: your name, address, date of birth, Social Security number, and employment information.
After you submit your information, Fortiva performs a soft credit check and reviews your ChexSystems history. Most decisions come back within a few minutes. If you are approved, you choose your deposit amount and link a checking or savings account for the transfer.
Once your deposit clears — usually within 1 to 3 business days — your credit limit is active and you can use the card. The physical card arrives by mail within 7 to 10 business days, though you may be able to use a virtual card number when ready for online purchases.
Frequently Asked Questions
Can I increase my credit limit after I open the account?
Yes, but only by increasing your deposit. You can add more money to your savings account to raise your credit limit. For example, if you started with a $500 deposit and add $200, your new limit becomes $700. You can increase your deposit up to the $5,000 maximum.
What happens if I miss a payment?
A missed payment reports to the credit bureaus and damages your credit score. If your payment is 30 days late, it appears on your credit report. The bank may also charge a late fee (though Atlas does not charge a specific late fee, interest accrues on the unpaid balance). If you miss multiple payments, the account may be closed and sent to collections.
How long does it take to convert to an unsecured card?
Conversion timelines vary. Most cardholders see an offer after 7 to 12 months of on-time payments, but some take longer. Fortiva reviews your account periodically and sends an offer when they believe you have demonstrated enough responsibility. When you convert, your deposit is returned to you within a few business days.
Can I use Atlas if I have no credit history?
Yes. Atlas does not require a minimum credit score or existing credit history. It is designed for people building credit from scratch. As long as you pass the ChexSystems check and meet the age and residency requirements, you can open an account.
What if I want to close my account?
You can close your Atlas account at any time by contacting Fortiva Bank. Your deposit is returned to you, usually within 5 to 7 business days. Any remaining balance on the card must be paid before or at the time of closure. Closing the account does not hurt your credit score, but it does stop the positive payment history from building.