What the Atlas Credit Card Is and Who Offers It
Atlas is a secured credit card issued by Fortis Bank, a bank that specializes in cards for people building or rebuilding credit. With Atlas, you put down a cash deposit that becomes your credit limit — if you deposit $500, your limit is $500. The card reports to all three credit bureaus (Equifax, Experian, and TransUnion), so your payment history builds your credit score over time.
The card is designed for people who have limited credit history, past credit problems, or are working to improve a low score. It functions like a regular credit card: you make purchases, receive a monthly statement, and pay a bill. The difference is that your deposit sits in a savings account as collateral while you use the card.
Key Takeaways
- Your cash deposit becomes your credit limit, and Fortis Bank holds it as security while you use the card.
- Atlas charges an annual fee (the amount varies) and interest on balances you carry month to month.
- On-time payments are reported to the credit bureaus and help build your credit history.
- After a period of responsible use, you can request to convert the card to an unsecured card and recover your deposit.
- The card has no rewards, cash back, or sign-up bonus — it is a basic tool for credit building, not a rewards card.
How Your Deposit and Credit Limit Work
When you open an Atlas account, you choose how much to deposit. The minimum deposit is typically $250, though this can vary. Your deposit goes into a savings account held by the bank. That savings account balance becomes your credit limit on the card itself.
If you deposit $500, you can charge up to $500 on the card. Your deposit earns a small amount of interest (the rate is set by the bank and changes over time), but the main purpose of the deposit is to find the card, not to earn you money. You cannot withdraw the deposit while the card is active — it stays locked until you close the account or the bank converts it to an unsecured card.
You can increase your deposit later if you want a higher credit limit. Contact Fortis Bank to request an increase, and the additional money you send will be added to your savings account and your card limit.
Fees You Will Pay
Atlas charges an annual fee that appears on your statement once per year. The exact amount depends on the card version and current pricing, so check your cardholder agreement or contact the bank for the current fee. This fee is separate from any interest you owe on a balance.
If you carry a balance from month to month (meaning you do not pay off the full statement balance), you will also pay interest on that balance. The interest rate (called the APR, or annual percentage rate) is set by the bank and disclosed in your agreement. Atlas cards typically have higher APRs than cards for people with good credit, because the card is designed for people with credit challenges.
If you pay your full statement balance by the due date each month, you will not owe interest — you will only pay the annual fee. Late payments may trigger a late fee, and paying significantly late can hurt your credit score.
How Payments and Monthly Statements Work
Each month, Fortis Bank sends you a statement showing what you charged, your current balance, and your payment due date. You can pay online, by phone, or by mail. Your payment must arrive by the due date shown on your statement to avoid a late fee and credit damage.
When you make a payment, it reduces your available credit. If you charged $300 and paid $200, your available balance is now $200 (assuming your limit is $500). Your available credit resets each month as your statement closes and a new cycle begins.
The bank reports your payment history to the credit bureaus every month. On-time payments help your credit score. Late or missed payments hurt it and stay on your credit report for seven years. This is why Atlas is useful for credit building — the monthly reporting gives you a way to show lenders you can handle credit responsibly.
When and How You Can Convert to an Unsecured Card
After you have used the Atlas card responsibly for a period of time (typically 6 to 18 months, depending on the bank's policy), you may be able to convert it to an unsecured card. An unsecured card does not require a deposit. When this happens, your deposit is returned to you, usually as a check or a transfer to your bank account.
You do not have to request a conversion — the bank may offer it automatically if your account meets their criteria. Criteria usually include on-time payments, a low balance relative to your limit, and no late or missed payments during the review period. If the bank does not offer a conversion, you can contact them to ask whether you are may be able to access.
Conversion does not happen automatically for everyone. If your account has missed payments or other problems, the bank may not convert your card. In that case, you keep the secured card and your deposit stays locked until you close the account.
What Atlas Does Not Offer
Atlas is a basic credit-building card with no rewards or perks. There is no cash back, no points, no sign-up bonus, and no travel benefits. The card has no special purchase protections or extended warranties. It is designed to do one thing: help you build credit history by reporting your payments to the bureaus.
If you are looking for rewards or benefits, Atlas is not the right card. If you are looking for a way to establish or rebuild credit with a real monthly payment history that lenders can see, it serves that purpose.
How Atlas Compares to Other Secured Cards
Other banks offer secured cards with similar structures — you deposit money, use the card, and build credit. The differences between cards usually come down to the annual fee amount, the interest rate, the minimum deposit, and the conversion timeline. Some secured cards have no annual fee; others charge $25 to $100 or more per year.
Before opening an Atlas card, it is worth looking at what other banks offer. Compare the annual fee, the APR, the minimum deposit, and whether the bank reports to all three credit bureaus (Atlas does). A card with a lower annual fee or APR might save you money over time, especially if you plan to carry a balance while building credit.
Frequently Asked Questions
Can I use my Atlas deposit as a regular savings account?
No. Your deposit is held as collateral for the card and earns a small amount of interest, but you cannot withdraw it while the card is active. The deposit is locked until you close the account or convert to an unsecured card. If you need access to that money, a secured card is not the right tool.
What happens if I miss a payment on my Atlas card?
A missed payment is reported to the credit bureaus and damages your credit score. It may also trigger a late fee. If you miss payments repeatedly, the bank may close your account. Your deposit will be returned, but the missed payments stay on your credit report for seven years and make it harder to get credit in the future.
Does Atlas report to all three credit bureaus?
Yes. Atlas reports your payment history to Equifax, Experian, and TransUnion. This means your on-time payments help build your score across all three bureaus, which is important because lenders may check any of them.
Can I increase my credit limit without adding more money?
Not with a secured card. Your limit is tied to your deposit. To increase your limit, you must increase your deposit. Once you convert to an unsecured card, the bank may raise your limit based on your payment history and creditworthiness.
How long does it take to build credit with Atlas?
Credit building is gradual. You will see your score start to move after three to six months of on-time payments, but meaningful improvement usually takes longer. The longer your account stays open with good payment history, the more it helps your score. Most people see noticeable improvement within 12 to 24 months of responsible use.