The Horizon Card offers guaranteed approval on an unsecured card with an initial credit limit of $500. There is no credit check, no employment verification, and no minimum income. It will report to a credit bureau.
Horizon Gold Credit Card How It Works
The Horizon Gold Card claims to be a credit card for people with bad credit. However upon investigating it is actually a shopping card. In other words this card is only be accepted at one location!
To be clear your Horizon Card is NOT going to be accepted at the local gas station, to buy groceries, purchases at the mall.
Instead your card can be used online. They do sell a wide variety of goods and we wish we could provide you with more info however access to the goods offered seems to be very restricted.
This is the only page we could find for the Horizon Outlet.
I repeat if you get this card you will have to log into this website in order to make purchases, your card will not be accepted ANYWHERE else.
Will The Horizon Credit Card Help Me Build Credit
We fully understand and we will not deny that use of the Horizon Gold Credit Card with; on time payments will start to build a record of a positive payment history. However when this card is reported it is reported as a shopping card.
In other words, it is NOT going to help your credit as much as a major Visa or MasterCard for bad credit. Additionally while Horizon Gold advertises that they report to the credit bureau if you read the fine print it is just one credit bureau.
And while this will help your credit – what about the other two bureaus? Do you just keep your bad credit with them? Instead you should consider a credit building secured credit card and some ways to raise your credit score.
Additionally we have some real fundamental issues with the Horizon Gold Credit Card offer. We do not like that the company that issues you the card is the same company that is selling you the products, there is a clear conflict of interest.
And a quick search in google of ‘Horizon Gold’ will reveal many consumer complaints about their experience with the Horizon Credit Card. We have also heard the goods that are sold, are overpriced and of very cheap quality.
Through a simple investigation into this offer we were able to peel back a thin layer and discover how Horizon Gold is able to advertise “0% interest and $500 unsecured credit limit” and still be a VERY PROFITABLE company.
The number of fees are endless and not upfront, not to mention the profits from the retail store on selling you goods where more fees can be charged (delivery fees, purchase fees, signature fees…)
You will automatically be enrolled in a monthly membership program at a price of $24.95 a month! If you cancel this then you must pay a monthly membership fee of $6 ($72 per year). Of course there are the standard late fees, and NSF fees.
Our biggest issue other than what we feel is rather deceptive advertising and business practices is the fact that you must pay shipping on all your purchases.
‘It doesn’t seem to be enough that you have to pay monthly fees, you are paying outrageous prices for cheap products, your card is only accepted at one online location, but then you have to pay shipping on these purchases!’
Horizon Gold Credit Card Suggest
NO! We do not suggest the Horizon Gold Credit Card. However it is still very important step to build positive credit if you want to repair your credit.
Congress passed Federal Laws that give you the right to file a credit bureau dispute for any item on your credit report you believe to be inaccurate. This law is called the Fair Credit Reporting Act.
In addition to a number of other federal consumer credit laws you are now legally able to clean up your credit report! Removing negative items on your credit report has shown to be one of the most effective ways to improve your credit score.
You can dispute any item on your credit reports such as: bankruptcies, foreclosures, credit card charge offs, collections, judgements…
For a free credit consultation call 1-877-626-1916 (toll-free) and get legal credit repair help today.
Prepaid Visa Debit Card
Another good option is a prepaid Visa debit card. This won’t require you to put a deposit down to secure your account. You can get a prepaid debit card issued as a Visa or MasterCard.
It can be used for purchases online and over the phone. It will be accepted all over the world and you can use it to rent a car, rent a hotel room, buy airfare …
It is very similar to a bad credit checking accounts in that you will be given free direct deposit and the best cards will give you free online bill pay a convenient way to pay your bills from the comfort of home and without the cost of a money order or postage. And with free direct deposit you can avoid paying check cashing fees!