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cheeriosunshine
New VisitorSo i have Fortiva for years, it has limit of $1150. I paid it off months ago, but i still pay $12.50 maintenance fee every month. Last week they sent me a email saying they have decreased my limit to $125 and will close my account on 8/26. First associate i talk to said she will escalate this, i have not heard from them. I called in today, they said it was due to inactivity. They don't count the maintenance fee as one. I am so mad right now, i have other cards with no activity at all and its still open. Now its gonna affect my credit score ):
Message 1 of 6It shouldn't affect your credit score unless you have high utilization on other cards/overall. As far as age goes, it won't affect your score at all - it'll remain on your reports for up to 10 years.
As far as I'm concerned, they're doing you a favor. You're paying them $150/year for a measly $1150 credit line. with that kind of annual fee, you can get a very nice card from Chase/Amex/Citibank that will be a far better product and with the potential to actually grow.
Last App: 1/10/2023
Penfed Gold Visa Card
Currently rebuilding as of 04/11/2019.
Starting FICO 8 Scores:
Current FICO 8 scores:
Welcome to MyFico forums. What other cards & limits are you currently holding?
Message 3 of 6 Established Contributor@cheeriosunshine wrote:So i have Fortiva for years, it has limit of $1150. I paid it off months ago, but i still pay $12.50 maintenance fee every month. Last week they sent me a email saying they have decreased my limit to $125 and will close my account on 8/26. First associate i talk to said she will escalate this, i have not heard from them. I called in today, they said it was due to inactivity. They don't count the maintenance fee as one. I am so mad right now, i have other cards with no activity at all and its still open. Now its gonna affect my credit score ):
Google Fortiva reviews..They did you a favor
Message 4 of 6 Epic Contributor@OmarGB9 wrote:As far as I'm concerned, they're doing you a favor. You're paying them $150/year for a measly $1150 credit line. with that kind of annual fee, you can get a very nice card from Chase/Amex/Citibank that will be a far better product and with the potential to actually grow.
Yes. I obviously don't know all their costs but you would think that getting $150 a year with no usage would be worth them keeping open!
Message 5 of 6 Established ContributorUnless it is your highest limit card and thus greatly effects your UTL it shouldn't hurt your score much at all. Instead of being mad you should thank them! They're a bottom of the barrel predatory lender and their saving you $150 a year now. No way I'd pay $12.95 for a a tad over a thousand dollar limit even in a rebuild.
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