For people who do not have good credit or who need to develop their credit history, the Fortiva credit line is a very good option. It is available to people with all types of credit and without checking your credit history. There is no annual fee to keep this card and you can use it as often and for as long as you like. When you make your application, it is issued on the basis of how much you make, which is actually less than the usual charges.
Fortiva does have some disadvantages. First, this card has a high processing fee that some people find quite harsh. In addition, they don't report your late payments to the credit bureaus, which may hurt your credit rating. However, these points should not deter you from taking out a furtive credit card since they only affect you for a short period of time.
One of the biggest advantages of this particular credit line is that it helps borrowers develop a sound financial plan. It helps lower your expenses and improve your financial standing. However, it doesn't help borrowers get high scores in the credit bureau. Therefore, it would be wise for borrowers with poor credit scores to wait until they improve their scores before applying for a furtive credit card.
Also, when you apply for a furtive credit card you will need to pay an annual fee of around $99. This is a one time fee and you can use it again whenever you want. With this fee, you can instantly remove the annual fees and get instant cash back. This gives borrowers a huge money-saver because they can pay off their debt in its entirety in one year instead of paying extra money in the first year.
On the other hand, there are also some drawbacks of this particular credit cards. One of the biggest drawbacks of this line is that borrowers are required to have an unsecured line of credit before they can apply for a secured one. If they don't, they will automatically be denied because unsecured credit cards carry higher rates of interest. However, this shouldn't deter you from applying for this unsecured line of credit because once you meet the monthly payment requirements and make all your payments on time, you will find that it doesn't affect your credit score that much.
Another disadvantage of the credit cards is that you are required to pay an annual fee for the privilege of being able to use the unsecured line of credit. If you have poor credit ratings, this can prove to be a big disadvantage for you since this line of credit has higher interest rates as compared to other unsecured credit cards. But if you can fulfill your obligations and make your monthly payments on time, then the annual fee should not deter you from using the unsecured form of capital one secured Mastercard.
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