What the Atlas Credit Card Is and How to Use It

The Atlas Credit Card is a secured credit card issued by Fortiva Bank. You put down a cash deposit, and that deposit becomes your credit limit. You then use the card like any other credit card—swipe it at stores, use it online, pay the bill each month. The card reports your payment activity to the three major credit bureaus (Equifax, Experian, and TransUnion), which means on-time payments build your credit history.

The card is designed for people rebuilding credit or starting from scratch. There is no annual fee, which sets it apart from some other secured cards. However, you do not earn cash back or rewards on purchases. The main benefit is the credit-building opportunity, not the perks.

Key Takeaways

  • You deposit cash upfront, and that amount becomes your spending limit—a $500 deposit gives you a $500 credit line.
  • The card charges interest on balances you carry month to month, with rates typically in the 18% to 24% range depending on your creditworthiness.
  • On-time monthly payments are reported to credit bureaus and help rebuild your credit score over time.
  • After 7 to 12 months of responsible use, you may be able to convert the card to an unsecured card and get your deposit back.
  • There is no annual fee, but you will pay interest if you do not pay your full balance by the due date.

How the Deposit and Credit Limit Work

When you open an Atlas account, you choose how much to deposit. The minimum deposit is typically $300, and the maximum is $2,500. That deposit sits in a savings account held by the bank and secures your credit line. If you deposit $500, your credit limit is $500.

Your deposit earns a small amount of interest while it sits in the account—usually less than 1% annually, depending on current rates. The deposit is yours; the bank holds it as collateral in case you stop paying your bill. You do not lose the deposit just for using the card or missing a payment, but if you default completely, the bank may use it to cover what you owe.

You can increase your deposit later to raise your credit limit. Some cardholders add money after several months of on-time payments to show the bank they are serious about rebuilding credit.

Interest Rates, Fees, and What You Actually Pay

The Atlas card has no annual fee, which is a genuine advantage. However, you will pay interest if you carry a balance. The Annual Percentage Rate (APR) typically ranges from 18% to 24%, though the exact rate depends on your credit profile at the time you open the account.

Here is how interest works in practice: if you have a $500 limit and spend $300, and you only pay $100 of that balance by the due date, you owe interest on the remaining $200. That interest accrues daily and is added to your next bill. If you pay the full balance each month, you pay no interest.

There are no late fees listed in the standard terms, but missing a payment will hurt your credit score and may trigger the bank to freeze your account. There are also no foreign transaction fees if you use the card abroad, which is useful for travel.

How Payments and Credit Reporting Work

You make payments online, by phone, or by mail. The due date is typically 21 days after the statement closes. Payments are reported to the credit bureaus within 30 to 45 days, so there is a lag between when you pay and when it shows up on your credit report.

The bank reports your payment history—whether you paid on time, late, or not at all—to all three major bureaus. This is the core reason to use the card: each on-time payment adds a positive mark to your credit history. After 6 to 12 months of consistent on-time payments, your credit score should begin to rise, assuming you have no other negative marks on your report.

Your credit utilization also matters. If you have a $500 limit and spend $450, you are using 90% of your available credit, which can lower your score. Keeping your balance below 30% of your limit—so under $150 in this example—helps your score climb faster.

When You Can Convert to an Unsecured Card

After 7 to 12 months of on-time payments, Fortiva may offer to convert your Atlas card to an unsecured card. An unsecured card means you no longer need the deposit; the bank releases it back to you. Your credit limit may stay the same or increase slightly.

Conversion is not automatic. The bank reviews your account and decides whether to offer it based on your payment history and credit behavior. If you have made every payment on time and kept your balance low, you are more likely to be converted. If you have missed payments or maxed out the card repeatedly, conversion may not happen yet.

You can also request conversion if the bank has not offered it after 12 months. Some cardholders have reported success asking the customer service team directly.

What Happens If You Miss a Payment or Default

Missing a payment on the Atlas card has when ready consequences. A late payment is reported to the credit bureaus and stays on your report for seven years. Even one missed payment can drop your credit score by 50 to 100 points, which undoes months of careful building.

If you miss a payment, contact the bank right away. Explain the situation and ask about a payment plan or hardship options. Some banks will work with you if this is your first miss and you have otherwise been responsible.

If you default completely—stop paying for several months—the bank may close your account, report you to a collection agency, and use your deposit to cover what you owe. You would also lose the credit-building benefit of the card, since a default is far more damaging to your credit than a missed payment.

How the Atlas Card Compares to Other Secured Cards

The Atlas card has no annual fee, which is a real advantage. Some other secured cards charge $25 to $95 per year just to hold the account. Over time, that adds up.

However, the APR on the Atlas card is not the lowest available. Some secured cards from credit unions or smaller banks offer rates in the 12% to 18% range, though those may require membership or have other restrictions. The Atlas card is widely available and does not require you to be a member of anything first.

The credit limit is also moderate. The $2,500 maximum is useful for building credit, but if you need a higher limit, other secured cards go up to $5,000 or more. For most people rebuilding credit, $2,500 is enough.

Frequently Asked Questions

Can I use the Atlas card right after I open the account?

Yes. Once your deposit clears and your account is set up, you can use the card when ready. The entire process usually takes 5 to 10 business days from the time you submit your information. You do not have to wait for a statement or anything else.

What happens to my deposit if I close the card?

When you close the account, the bank returns your deposit to you within 7 to 10 business days, assuming your balance is paid off and you do not owe anything. If you have an outstanding balance, the bank may use part of the deposit to cover it.

Does the Atlas card help me build credit faster than other secured cards?

No. All secured cards report to the same three credit bureaus the same way. The speed of credit building depends on your payment history and credit utilization, not on which card you use. A card with no annual fee just means you keep more of your money.

Can I increase my credit limit without adding more money?

Possibly. After several months of on-time payments, you can contact the bank and ask for a limit increase without a deposit increase. The bank may grant it based on your track record, but there is no may provide. Adding more to your deposit is the surest way to raise your limit.

What credit score do I need to open an Atlas card?

The Atlas card does not have a stated minimum credit score. Because it is secured by your deposit, the bank takes less risk than with an unsecured card. People with no credit history, bad credit, or credit scores below 600 are often approved, though the APR you receive may be higher if your credit is very poor.