Fortiva® Cash Back Rewards Mastercard Review
The Fortiva® Cash Back Rewards Mastercard is a unique option in the credit card market, tailored for individuals who are rebuilding or establishing credit. Unlike many secured credit cards, it does not require a traditional deposit, yet it still provides the opportunity to earn real cashback rewards. This makes it especially appealing to people who want to improve their credit profile without giving up the perks of everyday rewards. However, the card also comes with notable fees and higher interest rates, which means it requires responsible usage to truly benefit the cardholder.
Quick Summary
- Annual Fee: Between $85 and $175 for the first year, then $49 to $49 annually depending on your offer.
- APR: 24.99% to 29.99% variable, depending on creditworthiness.
- Credit Line: Typically between $350 and $1,000 at approval.
- Security Deposit: None required, unlike most secured cards.
- Credit Reporting: Monthly to Equifax, Experian, and TransUnion.
Who Should Consider This Card?
This card is primarily designed for people who may not qualify for prime cards due to past financial struggles or limited credit history. If you have fair, poor, or no credit, the Fortiva® Cash Back Rewards Mastercard can help you re-establish financial credibility.
To apply, you must:
- Be at least 18 years old (19 in states where that is the legal minimum).
- Have a valid Social Security Number.
- Provide proof of residency in the United States.
- Show verifiable income to ensure you can cover your payments.
The card is not intended for those who already have good or excellent credit, as such individuals can qualify for cards with better terms, higher credit limits, and fewer fees. Instead, this Mastercard fills a very specific niche: helping people who are in the process of repairing their credit history or building it from scratch.
Main Benefits Explained
The cashback rewards program is the star feature of the Fortiva® Mastercard. You earn 3% cashback on eligible gas, grocery, and utility payments, which are categories that most households spend heavily on. All other purchases earn 1% cashback, ensuring that you are rewarded no matter how you use the card.
Unlike many cards available to those with lower credit scores, these rewards are not capped or limited to an introductory period. Instead, the program runs year-round, giving you consistent benefits while you improve your credit standing. Your rewards can typically be applied as statement credits, which directly reduce your balance and make it easier to manage your monthly payments.
Credit Building Potential
Another significant benefit of this card is the fact that it reports to all three major credit bureaus: Equifax, Experian, and TransUnion. Every on-time payment you make is recorded and factored into your credit history. Over time, responsible usage can help you boost your score and position yourself to qualify for better credit cards, auto loans, or even mortgages in the future.
For those emerging from financial hardship, this kind of consistent reporting can make all the difference in re-establishing financial stability.
Frequently Asked Questions (FAQs)
Do I need to pay a deposit to get this card?
No. The Fortiva® Cash Back Rewards Mastercard is unsecured, meaning there is no deposit required to open the account.
What credit score is required?
Applicants with fair or poor credit may qualify. Approval depends on your full financial profile, not just your credit score.
What kind of rewards does it offer?
You’ll earn 3% cashback on gas, groceries, and utility payments, and 1% cashback on everything else.
Will this card improve my credit?
Yes, if you pay on time and keep your balance low, your credit score can improve due to monthly reporting.
Pros & Cons
- Pros: Cashback rewards, no deposit required, monthly reporting to all bureaus.
- Cons: High annual fee, high APR, low starting credit limit.
Final Thoughts
The Fortiva® Cash Back Rewards Mastercard is not perfect, but it provides a rare combination of credit-building and cashback rewards in one package. For those who are locked out of traditional credit cards, this product can serve as a stepping stone toward financial improvement. The key is to manage it wisely: pay your bills on time, avoid carrying large balances, and use the cashback program strategically to offset costs. If you can do that, this card could be a valuable tool in your financial journey.
