How the Fortiva Credit Card Works and Who It's For

Fortiva is a credit card designed for people rebuilding credit or starting from scratch

Fortiva is a secured credit card issued by Fortiva Bank, a division of Marlette Bancorp. You put down a cash deposit, and that deposit becomes your credit limit. So if you deposit $500, you get a $500 credit limit. You use the card like any other credit card — swipe it, pay the bill each month — and the bank reports your payment history to the three major credit bureaus (Equifax, Experian, and TransUnion). Over time, on-time payments build your credit score.

The card is aimed at people who have no credit history, damaged credit, or are recovering from past financial problems. It's not a rewards card or a travel card. It's a tool to demonstrate to lenders that you can borrow money responsibly.

Key Takeaways

• Fortiva requires a cash deposit that becomes your credit limit, so you need money upfront to open the account.
• The card charges an annual fee (the amount varies by the specific card product), which comes out of your deposit or first bill.
• Your payment history is reported to all three credit bureaus each month, so on-time payments directly build your credit score.
• After 12 to 18 months of on-time payments, you may be able to graduate to an unsecured card or request your deposit back.
• The card has no rewards, cash back, or sign-up bonuses — it exists solely to help you rebuild credit.

How the deposit and credit limit work

When you open a Fortiva account, you choose how much to deposit. The minimum deposit is typically $200, though this can vary. Your deposit sits in a savings account held by the bank, and your credit limit equals that deposit amount. So a $500 deposit gives you a $500 limit.

The deposit is yours — it's not a fee. The bank holds it as collateral in case you stop paying your bill. If you make all your payments on time and eventually close the account in good standing, you get your deposit back. If you default, the bank can use the deposit to cover what you owe.

Your deposit earns a small amount of interest, though the rate is low. You don't access this interest directly; it either stays in the account or is applied to your balance depending on the card terms.

Fees and costs you'll pay

Fortiva charges an annual fee, typically between $39 and $99 depending on which version of the card you choose. This fee is charged once per year, usually on your account anniversary or your first billing statement. Unlike some credit cards, there is no grace period on the annual fee — you pay it whether you use the card or not.

The card also charges interest on purchases if you carry a balance. The APR (annual percentage rate) for Fortiva cards is typically in the range of 18% to 24%, which is higher than many unsecured cards. This is normal for secured cards aimed at people rebuilding credit — the higher rate reflects the risk the bank takes on borrowers with limited or damaged credit history.

There are no foreign transaction fees, and the card does not charge late fees if you pay on time. However, if you miss a payment, standard late fees apply, and your interest rate may increase.

How using Fortiva affects your credit score

Every month, Fortiva reports your account activity to Equifax, Experian, and TransUnion. This means your payment history, credit utilization (how much of your limit you're using), and account age all factor into your credit score calculation.

On-time payments are the single biggest factor in your credit score. If you use Fortiva and pay your full balance or at least the minimum payment by the due date every month, you'll see your score improve over time — typically within 3 to 6 months of consistent on-time payments. The longer you maintain the account, the more your score benefits.

Credit utilization also matters. If you max out your card every month, it signals to lenders that you're relying heavily on credit. Keeping your balance below 30% of your limit — so under $150 on a $500 limit — helps your score more than maxing it out.

When you can graduate to an unsecured card

After 12 to 18 months of on-time payments, Fortiva may automatically upgrade your account to an unsecured card. This means you no longer need the deposit, and your credit limit may increase. The bank will return your deposit to you, usually by check or direct deposit to your bank account.

You don't have to wait for automatic graduation. You can contact Fortiva and request an upgrade earlier if you've built a strong payment history. Some cardholders see upgrades after just 6 months of perfect payments, though this is not may provide.

When you graduate, the annual fee may change, and the APR may drop slightly — though it typically remains higher than cards for people with good credit. The upgraded card still won't offer rewards or cash back, but it's a step toward accessing better credit products.

Fortiva compared to other secured cards

Other banks offer secured cards with similar structures: Capital One Secured, Discover Secured, and U.S. Bank Secured are common alternatives. The main differences are in annual fees, APR, and how quickly the bank allows you to graduate.

Capital One Secured, for example, charges no annual fee in the first year and has a lower APR range for some applicants. Discover Secured reports to all three bureaus like Fortiva does, but may have different deposit minimums. U.S. Bank Secured has a higher deposit minimum but may offer a faster path to graduation.

The best choice depends on your situation: if you want to avoid the annual fee in year one, Capital One may be better. If you want the lowest possible APR, compare offers from all three. If you want to rebuild quickly and don't mind the fee, Fortiva is a solid choice. All three report to the credit bureaus, so the credit-building benefit is similar.

What to know before you apply

Fortiva will run a hard inquiry on your credit report when you apply. This temporarily lowers your score by a few points. If you're applying to multiple cards in a short time, space out your applications by at least a few weeks to minimize the impact.

You'll need a Social Security number, a valid ID, and proof of income or employment to open an account. Fortiva also checks ChexSystems, a banking history database, so a history of bounced checks or closed accounts may affect your chances of approval.

The card is designed for people with limited or poor credit, so approval odds are generally higher than for unsecured cards. However, approval is not may provide. If you're denied, ask Fortiva why — sometimes it's a data error you can fix and reapply for.

Frequently Asked Questions

Can I use Fortiva if I have no credit history?

Yes. Fortiva is designed for people with no credit history, damaged credit, or both. You don't need an existing credit score to open an account. The bank will check your income and banking history instead.

What happens if I miss a payment?

A missed payment is reported to the credit bureaus and damages your score. Late fees apply, and your APR may increase. The bank may also freeze your account or reduce your credit limit. If you miss multiple payments, the bank can use your deposit to cover what you owe.

Can I increase my credit limit without adding more money?

After several months of on-time payments, Fortiva may increase your limit without requiring an additional deposit. You can also request a limit increase by contacting the bank. However, they may ask for an additional deposit to raise your limit significantly.

How long does it take to rebuild my credit with Fortiva?

Most people see meaningful improvement within 3 to 6 months of on-time payments. Significant improvement typically takes 12 to 18 months. The exact timeline depends on your starting score, how much you use the card, and your overall credit profile.

Do I lose my deposit if I close the account?

No. If you close the account in good standing, your deposit is returned to you. If you have an outstanding balance, the bank may use part of your deposit to cover it before returning the rest.