The Horizon Gold has helped thousands of people get back into the credit card game after their credit report has taken a few hits. It’s important to realize up front though that this is not a traditional, unsecured credit card. This card can only be used to buy things from Horizon’s own site, and they do charge shipping and processing fees for those items, as well as monthly fees for the card. Think of this more like a debit account that will be reported to the bureaus as an unsecured line of credit.
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This card caters to people who want to build or rebuild their credit. You can get instant approval with no credit check and no employment verification – but you’ll have to pay about $30 in startup fees, along with monthly fees. It does, however, report your activity to major credit bureaus and can help people get credit cards who otherwise would not be able to get one.
This card has no rewards program.
No rewards program so no redemption.
For someone who can’t get a credit card at all and may have been turned down multiple times, having Horizon Gold credit account can be an advantage. Being approved quickly without a credit check or employment verification can seem like a big benefit if you’ve been turned down before or are currently unemployed. The card will be reported as an unsecured line of credit and can help your credit score improve too.
The Horizon Gold is an option for people with bad credit or no credit. You must be aware with this card that you will only be able to buy things from the Horizon Outlet – and that those items will be marked up and cost extra for shipping. The Horizon Gold card also has high fees; $29.95 to open your account and $24.95 a month thereafter. That’s a pretty high price for a better credit report. For the same type of card but with no fee, take a look at the Fingerhut card. If your credit is bad but you would still rather try for a more traditional credit card, consider a secured card or even an unsecured one.