Horizon Gold Credit Card Review
The Horizon Gold Credit Card is marketed to consumers with a bad credit rating
. This card sounds like a dream but according to customers it quickly turns into a nightmare. The Horizon Gold Card is not issued as a Visa or MasterCard and instead works very similar to a department store credit card.
For Example
If you have a JCPenney retail credit card, it will only be accepted for purchases you make at JCPenney retail stores. The JCPenney card is not going to be accepted at your local restaurant, grocery store, gas station
The Horizon Gold Credit Card is exactly the same, it is only going to be accepted for purchases that you make at the Horizon Outlet Store available online by visiting thehorizonoutlet.com, however you are unable to view any merchandise for sale.
With this unsecured card you are given an initial $500 credit limit and they do not require a credit check for approval, but there are many reports easily located online about how terrible the merchandise is that is sold at the Horizon Outlet Store.
The Horizon Card continues to get worse and worse the closer you look at the fine print. One prime example is that, upon activating your card you are automatically signed up for the Horizon Benefits Plan.
This benefits plan is going to charge you $24.95 every month for "My Privacy Protection, My Universal RX, My Roadside Protect, And My Legal Assistance" upon investigating these "benefit plan" features it ultimately amounts to a total of three tow truck calls or $150 in total fees (whichever comes first and with stipulations), a 30 min. phone call with a paralegal about a noncriminal subject, and online account access to your Horizon Gold Card.
In other words we don't feel the services are worth $24.95 every month! You can get out of this monthly plan but will instead be responsible for a $6 monthly fee or $72 annually.
Can The Horizon Gold Card Repair My Credit?
The horizon card advertises credit bureau reporting, but again you must look closely. They say credit bureau as in only one credit bureau, so only one credit bureau is going to get your account information.
If you use your Horizon Gold Card responsibly it can potentially build a positive mark on one of your three credit reports. The problem here is your account is not going to reported or weighed as much as a major Visa or MasterCard and your account is not reported to the other two credit bureaus.
The other two credit bureaus are not even going to be aware that you have been issued a Horizon Credit Card or if your using it responsibly or irresponsibly. It is difficult to find clear and accurate list of Horizon Card fees and charges because the only information they have accessible without providing your e-mail address and zip code is a "Pre Acceptance Disclosure" this is the first pre acceptance disclosure we have come across.
This disclosure is very inconveniently contained in a window about one and a half inches high but must be page after page of information. When you enter your e-mail address and zip code you are agreeing to all the terms in this disclosure which include further marketing of your e-mail address and selling it to other businesses.
The Horizon Gold Card sounds like the perfect bad credit credit card offer: $500 unsecured credit card limit, no credit check, and it will report to a credit bureau, but please don't fall victim to this card and what we believe are unethical lending practices. There are endless reports of this card being a scam, a ripoff, a lack of accessibility to customer service, and it sounds like a nightmare. There are many more fees we discovered and we reached the conclusion that the Horizon Gold Credit Card is one to stay away from and if necessary run from!
by: Jacobey Larstons
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