The Horizon Gold card is a store credit card that requires very little information to get started. They run to credit checks and only minimal identity verification. Nearly every applicant with a completed application is approved.
The Horizon Gold card every approved applicant receives has a $500 credit line that may be used exclusively for purchases made with the Horizon Outlet. This is an online-only shop owned by the same people who offer the Horizon Gold Card. The outlet does offer a wide range of merchandise. However, this card may be just as good of a credit-building tool for those that choose not to use it to make regular purchases.
The Horizon Gold card is great for two types of people. First, the Horizon Gold card is best for anyone that wants to shop the Horizon Outlet. More broadly, the Horizon Gold Card is for someone rebuilding or just building their credit that needs a relatively inexpensive way to improve both the credit line and payment history metrics on their credit report.
The Horizon Gold credit card is a store card that offers no-interest financing on up to $500 in purchases. You are required to make a monthly payment of 10% with a minimum charge of $25. All purchases will incur an additional processing fee that considers your account status. Purchases may be restricted at any time.
The Horizon Gold card comes with a $500 credit limit. This credit limit is completely unsecured. Credit offered by the Horizon Gold card may only be used towards purchases made through the Horizon Gold website.
- Annual Fee – There is no annual fee with the Horizon Gold credit card.
- Account Setup and Card Issuance Fee – The one-time fee for each account setup is $5.
- Monthly Maintenance Fee – The standard monthly maintenance fee is $6 for all Horizon Gold card members. However, this fee is waived if you are already paying for a monthly Horizon Gold services membership.
- Monthly Membership Fee – All cardmembers are automatically enrolled in the Horizon Gold membership services as soon as their accounts are set up. This plan costs $24.95 per month but does offer additional benefits such as privacy protection, roadside assistance, and legal assistance. What these benefits entail may change at any time.
- Cash Advance Fee – There is no cash advance fee as the Horizon Gold card does not process cash advances.
- Foreign Transaction Fee – There is no foreign transaction fee for using the Horizon Gold card as no foreign transactions are allowed.
- Late Payment Fee – There is a late payment fee of $20 for each late payment made.
- Return Payment Fee - There is a returned payment fee of $25.
- Authorized User Fees – Only the person named on the card is allowed to make purchases with a given Horizon Gold card. Family members may be allowed authorized access to a Horizon Gold card with additional screening and fees. Pricing may vary depending on the number of authorized users you wish to add to your account.
- Balance Transfer Fee – There is no balance transfer fee as the Horizon Gold card does not allow balance transfers.
- Minimum Monthly Payment – The minimum monthly payment to your account is calculated as 10% of your balance with a minimum charge of $25 unless your balance is under $25. Balances less than $25 must be paid in full each month.
There is no rewards program included with the Horizon Gold card or found on the Horizon Outlet website or www.horizongoldcard.com. There are also no upgrades or perks that come standard with that Horizon Gold card.
The Horizon Outlet
The Horizon Gold card may only be used to make purchases through the Horizon Outlet. The Horizon Outlet is a store that sells a variety of merchandise from home goods to children's toys and clothing. They have no standard stock and always have a few hundred products to choose from.
The Horizon Outlet has a standard 30-day returns and exchanges policy, with customers being responsible for any return shipping. They ship to all 50 states, with additional charges being added to orders sent to Alaska. There is a small shipping and processing fee on every order.
Pros – Advantages of the Horizon Gold Credit Card
- No Credit Check – The best thing about the Horizon Gold card is its lack of a credit check or need for financial or employment verification. All you need is to prove your identity is real and complete the application to the best of your ability to be approved.
- Small Minimum Payments – A payment of 10% with a $25 minimum is a great program.
- No Interest – There is no interest for any purchase made with your Horizon Gold Card.
Cons – Disadvantages of the Horizon Gold Credit Card
- Horizon Outlet Store Card - $500 of credit is a great amount for most starter credit cards and even for store cards. However, the Horizon Outlet store offers a seemingly random collection of closeout merchandise. Paying the minimum of $8.99 for a credit card you may not use may not be worth it if you qualify for anything better. Still, if you need the credit line for appearances only, $8.99 is a fairly small price to pay, though a secured card would get you a better balance faster and with fewer or no fees in many cases. Little of this is outlined in flyers for www.horizongoldcard.com invites.
- Complex Membership System – Auto-enrollment in a $24.95 system of “benefits” with more restrictions and rules than actual benefits isn't worth it. If you do choose to pick up the Horizon Gold credit card, opting to leave this program with often save you both money and the headache of trying to do anything with these “services”.
There are no standard introductory or welcome offers with www.horizongoldcard.com. Rarely, it's possible for applicants to receive an offer of store credit or a store credit voucher after a successful application. These offers are rare and not generally worth waiting for given the amount of credit typically given out.
The Horizon Gold card is a credit card that can be used to make purchases through the online-only Horizon Outlet. Every cardmember will be allowed a $500 unsecured credit line. There are no credit checks and no proof of income or employment is needed to apply or to be approved. Purchases are only processed and shipped within the 50 United States of America. Additional fees apply to orders being sent to Alaska. Additional fees also apply depending on your account status, the number of items you have ordered, and other unstated factors. These apply as “processing charges.” Again, the disclosures for this on www.horizongoldcard.com is clearly outlined.