Are you a young adult who’s looking to start building up a solid credit history? Or maybe you’ve recently gone through a bankruptcy and are looking to make the most of your fresh start to rebuild your credit profile. Horizon Gold Card is a financial tool that allows people who have a low amount of credit to start building it from the ground up.
Why Get a Horizon Gold Card?
Perhaps you were denied a credit card, loan, or line of credit from other financial institutions. So here you are now looking for an opportunity to show lenders that you can effectively manage your finances – you just need a legit shot. The Horizon Gold Card doesn’t have any significant benefits or perks that most credit cards offer, but its value is that it has a 0% annual percentage rate (APR), and almost anyone’s application will be approved.
Ideal For This Group Of People
The Horizon Gold Card really only makes sense for a small segment of the American population, but for some, it’s a decent card to utilize. The typical cardholder is a person who has no or a poor credit score, has a monthly income that’s limited, and is a regular customer at the Horizon Outlet Store. It’s a very niche product but it still has its unique place in the market.
Horizon Gold Card Review
This card might be thought of like a credit card but it actually doesn’t fit into that category at all – it’s a store card that is only valid for use at the Horizon Outlet Store online. As previously mentioned, there aren’t any big benefits to being a cardholder and the terms aren’t too good either, but the positive aspect is that there’s no credit check or even an employment check in order to get approved. Each new card comes with a credit limit of $500 that’s unsecured and there’s no interest rate. For more information check out this Horizon Gold Card review.
The Card’s Costs
You might actually be thinking that the card sounds pretty good, but there are a few catches that you need to be aware of. Starting with your card’s activation on your Horizon Gold account – the fee is $5. The monthly fee is $24.95 for the card but that does get you some features including discounts on prescription medicines, roadside assistance, and access to My Legal Assistance benefits. You can also pay just $6.95 per month if you don’t want the above features. Your minimum payment due each month is either 10% of your account balance, or $25, whichever amount is more. If your balance is under $25, then you have to pay off the remaining balance. If you don’t pay your monthly payment in time and are late, then you receive a $20 late fee. Additional fees include a $3.50 charge for delivery signature verification and a $2 charge for residential delivery.
Details Of the Horizon Gold Card
- A credit limit of $500
- No credit check required
- No employment needed
- Credit bureau reporting
- Quick online application to fill out
- Discounts on prescription medicines, Roadside Assistance, and access to My Legal Assistance benefits (with the $24.95/month plan)
Some Hidden Value Of the Card
You also get a free credit report so you can learn about what information the bureaus have on you with regards to your financial behavior. You get My Universal RX which is a prescription benefit that can help save you money (up to 40%) on your medications (if covered) at participating pharmacies. My Legal Assistant gets you a complimentary half-hour legal assistance call or online session with a legal professional that’s local to your area. Elaborating on the Roadside Assistance feature – you get up to three towing requests or service calls up to 15 miles and for as much as $50, note that you are on the hook to cover the additional mileage cost beyond the covered 15 miles. Every 30 days Horizon Gold reports to one of the major credit bureaus on your activity – helping you build your credit if you are responsible with your payments and debt management. Aside from the free credit report and the 30-day activity reporting, the above value only applies to the $24.95/month plan.
Customer Support For Horizon Gold Card Members
You can get access to customer support from Horizon Gold through email, live chat on their website, or via phone from Monday to Friday between the hours of 8:30 am to 9 pm.
Is the Horizon Gold Card the Right Fit For You?
For the majority of people, this card won’t be an ideal financial instrument to take advantage of due to the high fees, no rewards program or perks for making purchases, and the ability to only use the card for purchases at the Horizon Outlet Store online. For those who already shop at this particular store though, who don’t want to rack up interest from their debt, who have a low income, and don’t want a credit check or an employment check done – then this card might make sense.
The Horizon Outlet Store
The Horizon Outlet Store has a wide selection of products for women, men, kids, and babies as well. Products categories for people include apparel, office and work wear, accessories, footwear, beauty products, and jewelry. Product categories for the home feature bed and bath, kitchen, decor, books, electronics, pet products, and miscellaneous items as well. There’s a wide selection of toys for little toddler girls and boys, and babies as well. There are seasonal products from clothing to gardening products to recreational and physical activity hardware. Bags, mugs, and tumblers are available for purchase, and even prom and formal attire can be bought. Shipping is available for all 50 states, but there are additional shipping charges and restrictions for orders from Hawaii, Alaska, and Puerto Rico. Returns can be done within 30 days of purchase.
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