Yes, Fortiva is a legitimate credit card issuer, but it specializes in building credit for people with poor or no credit history
Fortiva is a real company that issues credit cards through WebBank, a federally chartered bank. The card is not a scam, and Fortiva reports your payment history to the three major credit bureaus — Equifax, Experian, and TransUnion. However, Fortiva cards come with trade-offs: high annual fees, high interest rates, and a required cash deposit that becomes your credit limit.
The reason Fortiva exists is to serve people who cannot get approved for standard credit cards. If you have no credit history, a low credit score, or past credit problems, a Fortiva card may be one of the few options available to you. The card works, the company is regulated, and it does report to the bureaus. The question is whether the cost is worth what you get.
Key Takeaways
- Fortiva is licensed and regulated by the Office of the Comptroller of the Currency, making it a legitimate financial institution, not a predatory lender.
- You must deposit cash upfront — usually $200 to $2,500 — which becomes your credit limit, so you cannot borrow more than you have already paid.
- Fortiva charges an annual fee (typically $95 to $120 depending on the card tier) and interest rates between 19% and 24%, which is higher than most standard cards.
- Fortiva does report to all three credit bureaus, so on-time payments will build your credit score over time, but the high fees mean you pay more to build that score.
- Other secured card options exist with lower fees and better terms, so comparing Fortiva to alternatives like Capital One Secured or Discover Secured is worth doing before you decide.
How Fortiva's Secured Card Model Works
A Fortiva card is a secured credit card, which means you put down a cash deposit that the bank holds as collateral. That deposit becomes your credit limit. If you deposit $500, you get a $500 credit limit. You then use the card like any other credit card — make purchases, receive a monthly bill, and pay it back.
The deposit sits in a savings account that you cannot touch while the card is open. If you stop paying your bill, the bank can take money from that account to cover what you owe. This protects the bank's risk, which is why they can offer cards to people with poor credit or no credit at all.
After 12 to 24 months of on-time payments, Fortiva may convert your card to an unsecured card, meaning you get your deposit back and the card works like a regular credit card. Not everyone qualifies for conversion, and the timeline varies.
What Fortiva Costs You
Fortiva's pricing is the main reason to think carefully before explore. The company offers multiple card tiers, and costs rise with each tier:
| Card Tier | Annual Fee | Interest Rate (APR) | Minimum Deposit |
|---|---|---|---|
| Standard Secured | $95 | 19.99% | $200 |
| Premium Secured | $120 | 22.99% | $500 |
The annual fee is charged every year, whether you use the card or not. If you carry a balance, the interest rate applies to that balance. For example, if you have a $500 balance on the Standard card and pay only the minimum, you will pay roughly $100 per year in interest alone, plus the $95 annual fee.
Fortiva also charges late fees (typically $25 to $35) and returned payment fees if a check or automatic payment bounces. These fees add up quickly if you miss a payment or run into cash flow problems.
Whether Fortiva Reports to Credit Bureaus
Yes, Fortiva reports your account activity to Equifax, Experian, and TransUnion every month. This is one of the card's genuine strengths. If you make on-time payments, those payments show up on your credit report and help build your credit score over time.
However, the high fees mean you are paying a premium to build that credit. A $500 deposit with a $95 annual fee means you are paying 19% of your deposit just to have the card for one year, before any interest charges. Over three years, that is $285 in fees alone — nearly 57% of your deposit.
Other secured cards, like the Capital One Secured MasterCard or Discover Secured Card, charge lower annual fees ($0 to $39) and lower interest rates (18% to 22%), which means you build credit at a lower cost.
Red Flags That Fortiva Is Not a Scam
Fortiva is regulated by the Office of the Comptroller of the Currency, a federal agency that oversees national banks. WebBank, the bank that issues Fortiva cards, is a legitimate federally chartered bank. You can verify this on the OCC's website.
Fortiva has a physical mailing address (in Salt Lake City, Utah), a customer service phone number, and an online portal where you can check your balance and make payments. The company has been operating since 2006 and has issued millions of cards.
The card does what it says it will do: it accepts your deposit, gives you a credit limit equal to that deposit, charges you fees and interest, and reports to the credit bureaus. There is no hidden trick or bait-and-switch. The trade-off is straightforward that you pay more to build credit than you would with other options.
When Fortiva Makes Sense as a Choice
Fortiva is worth considering if you have been turned down for every other secured card option. Some people have credit scores so low or credit histories so damaged that even Capital One or Discover will not approve them. In that case, Fortiva may be one of the few cards you can get.
Fortiva is also an option if you need a card when ready and other issuers have longer approval times. Fortiva typically approves applications within days and can fund your account quickly.
If you can afford the fees and you are certain you will make on-time payments, the card will build your credit. After 12 to 24 months, you may be able to move to a cheaper card or convert your Fortiva card to an unsecured product.
Better Alternatives to Compare
Before you explore for Fortiva, check whether you may have access to for these lower-cost secured cards:
- Capital One Secured MasterCard: $0 annual fee, 19.99% APR, $200 minimum deposit. Easier to may have access to for than Fortiva and costs nothing to hold.
- Discover Secured Card: $0 annual fee, 19.99% APR, $200 minimum deposit. Also offers cashback rewards (1% on all purchases), which Fortiva does not.
- OpenSky Secured Visa: $35 annual fee, 19.99% APR, $200 minimum deposit. No credit check required, but the annual fee is lower than Fortiva's.
If you have been rejected by all of these, then Fortiva becomes a reasonable next step. But if you can may have access to for Capital One or Discover, those cards will cost you significantly less over time.
Frequently Asked Questions
Will Fortiva approve me if I have bad credit?
Fortiva has looser approval standards than most credit card issuers and does not require a minimum credit score. However, approval is not may provide. Fortiva will review your process and may deny you if you have recent fraud, a very recent bankruptcy, or other serious issues. The only way to know is to explore.
Can I get my deposit back?
Your deposit stays frozen while your account is open. After 12 to 24 months of on-time payments, Fortiva may convert your card to unsecured, at which point you get your deposit back. If your card is not converted, you can close the account and retrieve your deposit, but closing the account may hurt your credit score slightly.
What happens if I miss a payment?
A missed payment will be reported to the credit bureaus and will damage your credit score. Fortiva will charge a late fee (typically $25 to $35) and may use money from your deposit to cover the missed payment. Multiple missed payments could result in account closure.
Does Fortiva have a rewards program?
No, Fortiva cards do not earn cashback, points, or travel rewards. You pay the annual fee and interest but receive no rewards for spending. This is another reason to compare Fortiva to Discover Secured, which does offer 1% cashback.
Is Fortiva a real bank?
Fortiva is not a bank itself, but it partners with WebBank, a real federally chartered bank regulated by the Office of the Comptroller of the Currency. Your deposit is held by WebBank and is protected under FDIC insurance up to $250,000, so your money is safe even if something goes wrong.