Anyone ever hear of Fortiva credit card?

[schsa210]

Got a pre-approval from a card company by the name of Fortiva in the mail today, never heard of them before.

Looks like they try to copy Merrick Bank's double your credit limit after 9 months versus Merrick's 6 to 7 months of on time payments.

BUT, with Fortiva, the apr is 36%, the annual fee is $175, the account maintenance fee is $150 per year broken down in monthly payments of $12.50......INSANE!!!

This would be coming out of a starting limit of $700.

Look out CreditOne, you may no longer be the bad apple in the basket. 

[CreditCuriosity]

Run and Run fast.. Never heard of them, but can save it for saving a fire as it is starting to get chilly out.

[Anonymous]

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@schsa210 wrote:

Got a pre-approval from a card company by the name of Fortiva in the mail today, never heard of them before.

Looks like they try to copy Merrick Bank's double your credit limit after 9 months versus Merrick's 6 to 7 months of on time payments.

BUT, with Fortiva, the apr is 36%, the annual fee is $175, the account maintenance fee is $150 per year broken down in monthly payments of $12.50......INSANE!!!

This would be coming out of a starting limit of $700.

Look out CreditOne, you may no longer be the bad apple in the basket. 

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I got the Fortiva invite recently, too.  I laughed hysterically at the APR and fees.  It should be illegal to prey upon those down on their luck.  

[schsa210]

I just hope no one  has credit in that bad enough shape to where they actually need one of Fortiva's credit cards.

[Anonymous]

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@schsa210 wrote:

I just hope no one  has credit in that bad enough shape to where they actually need one of Fortiva's credit cards.

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No kidding!  

[kellymar]

Never heard of them, but surely that's illegal? If anyone is even considering such insanity, run and run fast. There are two decent secured cards that I know of that don't even perform credit checks: Open Sky and State Dept Federal Credit Union (SDFCU, if you call in your application). No one should deal with such predators.

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@schsa210 wrote:

Got a pre-approval from a card company by the name of Fortiva in the mail today, never heard of them before.

Looks like they try to copy Merrick Bank's double your credit limit after 9 months versus Merrick's 6 to 7 months of on time payments.

BUT, with Fortiva, the apr is 36%, the annual fee is $175, the account maintenance fee is $150 per year broken down in monthly payments of $12.50......INSANE!!!

This would be coming out of a starting limit of $700.

Look out CreditOne, you may no longer be the bad apple in the basket. 

---

[morgacj2004]

It is not illegal and there are enough people out there desparate for credit that are sure to take them up on the offer. A lot of people do not read the fine print and actually add up all of the charges to see what the cost of the credit actually is. Very Sad!!!

[Anonymous]

Yikes!!!

[OmarGB9]

Yeeesh. And I thought First Premier was bad. I think these guys just dethroned them!

[Anonymous]

Sometimes I wish myFICO had a vomit emoticon.