When you apply for a regular credit card, It is easy to get denied if you have bad credit or no established credit history. The well-known banks that you might be considering would often have qualifications that just fit those with fair to excellent credit.
What can you do?
Usually, cards that do not perform any credit checks are the best starting points for rebuilding credit. One example of this is the Horizon Gold Card.
This card is one of the most sought after credit cards as it has a very easy and fast approval process.
Which is particularly beneficial for people with bad or limited credit.
Here are a few things you should need to know about Horizon Credit Card.
The Horizon Gold credit card is a great unsecured “starter” card that can offer easy approval.
Since it is a catalog card, you will be able to use this to purchase products from the issuer’s catalog.
Similar to Walmart, the Horizon Outlet also has a wide range of selections to choose from— from women’s and men’s clothing to home goods. Regular shoppers could easily get good deals during various store-wide sales.
Horizon card features
Here are the key features of the Horizon Gold Credit Card:
- Fast approval process – This does not have any extensive interviews or documentation. Application is made online, and you can get approved in a shorter amount of time.
- No credit and employment check – The issuer does not perform any credit and employment check, making it ideal for people with poor or limited credit history.
- Unsecured – This card is also unsecured, so you do not have to put down a deposit in order to obtain a line of credit.
- 0 percent APR – There is a 0% APR rate on purchases made on this card, which is always helpful since many cards for people with bad credit or no credit have high interest rates.
Horizon credit card benefits
This starter credit card has a member benefit program that cost $24.95 a month which is automatically placed on your account.
- Credit limit – You will receive a $500 credit limit, which is a reasonable amount compared to other starter credit cards.
- My Universal Rx – This is a discount program that you can get on your prescription drugs. You can get up to a 40 percent discount when you purchase from participating pharmacies, given that this covers your medications.
- My Legal Assistant – If you need any legal help, you will be eligible for a free 30-minute consultation with a legal professional near your area. This can be done over the phone or online, which is also convenient for you.
- Roadside assistance – Another benefit of this card is its roadside assistance. You are entitled to towing requests (up to 15 miles) and three service calls. If you go over the cap ($50), you will have to shoulder the additional fees.
- Credit Reporting – Horizon Gold reports to one of the major credit bureaus every 30 days. This is important as it helps establish your credit history. Additionally, this card also has a feature that allows you to see what the credit bureaus have on your financial report. Knowing this lets you monitor your financial behavior and check for any inconsistencies.
Horizon credit card rates and fees
Horizon Gold has several fees that you need to consider, even before applying for one.
- Annual Fee – This card has an annual fee of $300, which is billed monthly at $24.95 each month. This fee enrolls you in their member benefit program and is automatically deducted from your bank account every month.
If you fail to pay the $24.95 they will downgrade your card to their basic program which includes the $500 unsecured line of credit and all the other benefits EXCEPT road side assistance.
Fees for the downgraded program are $6.95 a month + a $6 monthly maintenance fee
- Late payment fee – You also need to take note of this card’s $20 late payment fee. Although it may seem lower than other cards, it would still cost you more if you do not pay off your balances each month.
- Additional fees– Some of its additional fees include $2.50 for delivery signature verification, $2 for residential delivery, a $15 card validation fee, and a $25 NSF check fee.
Is this credit card right for you?
If you want to start rebuilding your credit but have bad or no credit. The Horizon Gold card is a good option to look into.
You can get approved even with bad or limited credit, plus it has a decent credit limit with a few benefits that you can utilize.
And don’t forget about the large catalog outlet store!
The outlet has a wide catalog selection that is reasonably priced. Make sure to watch out for any deals and sales to save more money.