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Fortiva Mastercard Preapproved... LOL!

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Senior Contributor

Re: Fortiva Mastercard Preapproved... LOL!


@bludmn79 wrote:

I actually have this card. I've had it for over a year (got it in May 2017). I was approved for a $1500 limit (OOOH! GOLDMINE! Smiley LOL), which they increased to $1529 after about 6 months (Rollin' in the dough, y'all! Smiley LOL). I mainly used it to travel back to Chicago, and I usually paid the balance off in the entirety every other month; I would deliberately leave, like, $20 or so on balance months to show utilization since no utilization is just as bad as high. No rewards or no miles or anything like that, but it served its purpose in leading me to obtain credit from more reputable companies like Chase and AMEX. I paid the balance off in full again about a month ago, so I will likely shelve this card and pop it out occasionally to buy a pack of gum or something to keep it alive. Smiley LOL


In the past I used to say everytime a Credit One card or other predatory card is closed a Credit Angel gets their wings.... When you close this account and cut this Albatross off your neck a flock of Credit Angels get their wings... it has a MONTHLY fee ... No.  No. Do not pass GO do not collect 200$.. Get on the phone and close that up... It will stay on your report as a positive tradeline even when you close it for some time... 

 

Please I implore you, for the love of MyFICO... cut this albatross off your neck before you strangle yourself in useless fees for NO GAIN...

 

-J

 

Message 31 of 40
Established Contributor

Re: Fortiva Mastercard Preapproved... LOL!

This card is essentially a payday loan made of plastic. Please get a secured card if you can't get prime yet. No rewards for those high fees.
Message 32 of 40
Established Member

Re: Fortiva Mastercard Preapproved... LOL!

I went to their website and the reviews were hilarious

Began building April 2017

Message 33 of 40
Contributor

Re: Fortiva Mastercard Preapproved... LOL!

I received a "pre-approved" offer in the mail today. This is pure trash! I actually feel offended by receiving it!!








Message 34 of 40
Established Contributor

Re: Fortiva Mastercard Preapproved... LOL!


@Bizambish wrote:

Has anyone heard of this outfit? 

 

I'm not sure why but I recieved a *pre approved offer!* in the mail from Fortiva 

 

Highlights: 

1000 Dollar limit selected just for me 

175 Dollar Annual Fee in the first year, 49 dollars thereafter 

150 Dollar "Account Maintenance Fee" per year billed at 12.50/Mo 

33.24% APR

Zero card benefits of any kind 

 

If anyone gets an offer from this predatory outfit please just put it directly in the shredder... Makes Credit One look like a tier 4 prime lender!

 

PS. Mods please move if in the wrong section, thank you


That is freaking rediculus, talk about bleeding someone dry.



Message 35 of 40
Regular Contributor

Re: Fortiva Mastercard Preapproved... LOL!

Whenever I get one of these predatory mailings and they have a self addressed envelope, I always send it back with a note admonishing them for preying the consumers who need the most help. One time I sent the application back as Mickey Mouse with social 012-34-5678, employer Walt Disney, aged 75, but I feel a kid, and income stated as I work for smiles on the kids’ faces

PenFed Power Cash ($15,000), NFCU GoRewards Sig ($18,000), PNC Cash Rewards ($10,500), PNC Cashbuilder ($10,000), NFCU CashRewards Sig($12,000), Ebates Platinum VS($10,000), Wells Fargo CashWise($7000), Amex BCE($6000), Amex ED($6600), Synchrony Financial ($25,000), BBVA Clear Points ($3800), Amex Cash Magnet($2000), Walmart MC($8000), Fifth Third Truly Simple ($4000), BB&T Spectrum Cash Rewards($4500), BB&T Bright Card($4500), CapOne Quicksilver($1500), JCP($10,000), Care Credit($15,000), RoomsToGo($11,000), US Bank Cash 365 ($2500), US Bank Cash+ ($1,000), Wayfair($11,000), HSN($8000), Overstock($11,850), Lowe’s ($25,000), Trek Card($4250)WF mortgage 195K Fico 8: EQ 683, TU 708, EX 708, AAoA-86 months, AoOA-23 years, Fico 9: EQ 734, TU 737, EX 713
Message 36 of 40
Member

Re: Fortiva Mastercard Preapproved... LOL!

LoL. I got one of those a while back. I read it and ran shrieking from the room. I later returned, tore it up and stomped on the pieces. Horrible terms even for credit rebuilding.
Message 37 of 40
Contributor

Re: Fortiva Mastercard Preapproved... LOL!

I got this offer yesterday too only I'm not struggling (at least in my mind and those of the ones that I have cards with). Lol.  That thing didn't last 30 seconds when I opened the offer.

Message 38 of 40
Contributor

Re: Fortiva Mastercard Preapproved... LOL!

Here's some hilarity: I got an offer in the mail...for the same **bleep** card I already have. Smiley LOL

Current Cards:


Other Lines of Credit:


Goal Cards:

Starting FICO scores (9/19/2018):

Current FICO scores:

Goal FICO scores:


Message 39 of 40
Valued Member

Re: Fortiva Mastercard Preapproved... LOL!

Actually Fortiva is an excellent way of building credit in the rare situation in which your given $500.00 credit line.
It's when you want more that Fortiva costs more.
I still have a Fortiva card, I read everything.  And accepted.
It has costed me $22.30 so far this year in interest fees, even carrying a high balance on avaerage month to month of about $375.00 (recently paid it down to $175.00 a week ago).
Yet when I make a comparison to another individual whom I know well was approved for $2,500.00 with a balance of $2,200.00 their interest monthly eats up about $65.00 of their $75.00 min payment.
So Fortiva is best if you stay within the lower credit limits.
Even the fees are reflected in the amount of credit made available, right down to the monthly charge, I myself will cancel this before the monthly charge kicks in.

Oddly I just received another offer from them yesterday this credit limit amount is $1,500.00 but again knowing better as I reviewed the fee structure, I noticed the cost of extended credit lines goes up significantly.
And yes in rare situations usary laws would help.
But for the most part such laws are arbitrary. Depends on if risk assessment is fair in evaluating credit line availability versus fees.

Khols $700.00, Dressbarn $300.00, Lowes $5000.00, Gap $1000.00, Belk $1000.00, Guitar Center $2000, Ebay Mastercard $700.00, Credit One $700.00, Merrick Bank $700.00, Capital One $500.00, Fortiva $500.00, Walmart $3000, Amazon $600.00, Paypal $400.00.
Message 40 of 40
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