Are you in a situation where you want to build or rebuild your credit, but you cannot qualify for a major credit card?
The Horizon Gold Card is a line of unsecured credit that you can get approved for without a credit check or employment check.
The difference between an unsecured card vs. a secured card is that unsecured cards don’t require a cash deposit as security in case you miss payments.
The Horizon Gold Card can only be used online at the Horizon Outlet, and it comes with quite a bit of fees and fine print that you should take care to read through before applying.
In this review, we’ll dive into the details you need to know about the Horizon Gold Card.
Horizon Gold Card for 2019 Review Details
The Horizon Gold Card is geared towards borrowers with bad credit which is pretty evident because there’s no credit check.
You can apply for the card quickly online. There’s no rewards program.
The Horizon Gold Card credit line is $500.
The Horizon Outlet where you can use the $500 credit line has a variety of items from clothes to home goods and formal wear.
Horizon Gold Card Fees
The credit line has a 0% APR interest rate.
But don’t get too excited about the interest rate savings because the other miscellaneous fees are really what needs your attention.
Here’s a rundown of each fee associated with the account:
- One-time card issuance fee – $5
- Processing fee – Varies per item that you purchase
- Outlet residential delivery fee – $2
- Outlet delivery signature verification – $2.50
- Late payment fee – $20
- Monthly membership benefit plan – $24.95 (for full benefits, $6.95 monthly without full benefits)
You’re automatically enrolled in the full $24.95 monthly membership plan when you’re approved for the card.
This benefit plan includes prescription discounts, roadside assistance, and more.
If you decide to apply for this card, you may want to consider requesting an account downgrade to the basic $6.95 starter plan to save money each month.
Otherwise, you’re going to be paying nearly $300 per year for access to this credit line.
Is the Horizon Gold Card worthwhile?
If you have bad credit, you may jump at the chance to get approved for a card like the Horizon Gold Card with no background check.
It could also be ideal for someone who wants to rebuild credit but doesn’t have the $200 to $500 upfront to put down to get a secured card.
The disclosure says that they will report card payments to at least one credit bureau.
On-time payments reported to the credit bureaus could help you build credit.
With that said, there are many undesirable card fees.
Likely the best course of action (if you decide to go with the card) is to buy only small quantities of merchandise from the outlet website and pay off the balance on time each month.
After building credit, consider closing the account and moving to another more affordable card.
If you’re interested in applying for the Horizon Gold Card, learn more here.