Essential Facts About the Fortiva Credit Card
In the world of credit cards, finding the right one can be a daunting task, especially for those looking to build or rebuild their credit. Here, we've compiled a list of some of the best credit cards that require no annual fee, report to all three major credit bureaus (Experian, Equifax, TransUnion), and are suitable for various credit levels.
Chime® Credit Builder Secured Visa® Credit Card
This card is an excellent choice for beginners or those with no credit history. It requires no credit check or minimum security deposit, making it accessible to a wide range of applicants. The card reports to all three major credit bureaus, allowing you to establish a solid credit history. Plus, it has no annual fee, interest, or late fees, and you control your spending by moving money from your Chime account to set the limit.
Tilt Motion Credit Card
Tilt Motion is a $0 annual fee unsecured credit-builder card designed for those with poor to good credit. It's notable for underwriting applicants beyond traditional FICO scores, making it accessible for building credit without a security deposit. The card offers rewards with no hidden fees, making it a great option for those looking to build credit without incurring additional costs.
Petal® 1 “No Annual Fee” Visa® Credit Card
This card appeals to those with bad or fair credit by offering cash back on select purchases and low fees, supporting credit building without upfront collateral. It requires no security deposit and has no annual fee, making it an affordable option for those looking to improve their credit score.
Chase Freedom Flex℠ and Chase Freedom Unlimited®
Both cards are better suited for those who may already have some credit history and want to build it while earning cash back rewards. They have no annual fees and report to all three credit bureaus, making them a solid choice for credit-building.
While the Fortiva Credit Card is an unsecured option for those with less-than-ideal credit, it's important to note that it comes with high fees and rates, making it costly to hold. The card's APR ranges from 22.74% to 36%, based on creditworthiness. The card also offers an optional credit protection program that covers the minimum payment owed, up to six months, if you become unemployed, disabled or hospitalized, but it comes with an additional cost.
In contrast, the Chime Secured Credit Builder Visa® Credit Card does not require an upfront security deposit or a credit check, making it a more affordable and accessible option for building credit.
In summary, when it comes to building credit, these cards are among the best for their affordability, accessibility, and the features they offer. They are designed to help you establish a solid credit history without incurring large upfront costs or annual fees. Always remember to use credit responsibly and make timely payments to ensure a positive impact on your credit score.
Summary Table
| Card | No Annual Fee | Requires Security Deposit | Reports to All 3 Bureaus | Credit Range | Special Features | |-------------------------------------------|---------------|--------------------------|-------------------------|----------------------|-------------------------------------------| | Chime® Credit Builder Secured Visa® | Yes | No | Yes | Beginners/no credit | No credit check, control spending limit | | Tilt Motion | Yes | No | Yes | Poor to good credit | No hidden fees, unique underwriting | | Petal® 1 “No Annual Fee” Visa® | Yes | No | Yes | Fair or bad credit | Cash back rewards, low fees | | Chase Freedom Flex℠ & Chase Freedom Unlimited® | Yes | No | Yes | Good/established | Cash back rewards, no annual fee |
[1] Chase Freedom Flex℠ and Chase Freedom Unlimited®: www.chase.com/credit-cards/freedom [2] Chime® Credit Builder Secured Visa® Credit Card: www.chime.com/credit-builder [3] Chase Freedom Flex℠ and Chase Freedom Unlimited®: www.chase.com/credit-cards/freedom-unlimited [4] Tilt Motion Credit Card: www.tiltmotion.com [5] Petal® 1 “No Annual Fee” Visa® Credit Card: www.petalcard.com
- The Chime® Credit Builder Secured Visa® Credit Card is an ideal choice for beginners or those with no credit history, as it requires no credit check or minimum security deposit.
- The Tilt Motion Credit Card, which has no annual fee, is particularly appealing for those with poor to good credit, as it underwrites applicants beyond traditional FICO scores without the need for a security deposit.
- The Petal® 1 “No Annual Fee” Visa® Credit Card caters to those with bad or fair credit, providing cash back on select purchases and low fees to support credit building without upfront collateral.
- In the finance industry, fintech innovations such as the Chime Secured Credit Builder Visa® Credit Card offer more affordable and accessible options for building credit, as they do not require an upfront security deposit or a credit check.
