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If you’re on the lookout for a credit card to help you build or establish credit, you may be wondering if the Horizon Gold Card is the right card to do so. The short answer is: Absolutely not.
In fact, the card — which is not actually a credit card but a prepaid card — is loaded with fees and can only be used to purchase merchandise online at the Horizon Outlet.
Consider other options before applying for this card. People who are unemployed or have bad credit may look toward the Horizon Gold Card to improve or build credit since there are no credit checks. However, this card does have restricted use and a high $24.95 monthly service fee among other fees that add up over time.
An alternative for people looking to build or improve their credit are secured cards, which often have no or low annual fees. They do require an upfront deposit to open; however, that deposit will be returned so long as you pay your bill regularly.
Intro Purchase APR
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Regular BT APR
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Annual Fee
See Terms*
Cash Advance Fee
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Foreign Transaction Fee
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Balance Transfer Fee
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No credit check
If you do shop regularly at The Horizon Outlet, then know that by applying for the Horizon Gold Card won’t involve a credit or employment check.
Reports to one credit bureau
Horizon Gold Card cardholders looking to rebuild their credit (this card is aimed for those with poor credit) should know that this card reports to one of the three credit bureaus. However, that can backfire if the card isn’t listed with another credit reporting agency a future lender may refer to when determining your creditworthiness. When rebuilding your credit, it’s best to choose a card that reports to all three credit bureaus (Equifax, Experian and TransUnion).
Numerous fees
The Horizon Gold Card comes laden with fees.
There is a monthly service fee of $24.95 that will be auto-debited from your checking account. This comes out to an alarming effective $299.40 annual fee. At that price, you should seriously consider opening a secured card before applying for the Horizon Gold Card , since many secured cards have low fees or none at all.
Also, there is a one-time $5 account validation fee, on top of fees for online deliveries (which can’t be charged to your Horizon Gold Card account).
Can't be used outside Horizon Outlet
If you’re looking for a card to use for all your shopping needs, the Horizon Gold Card doesn’t do that. You can only use the card at Horizon Outlet.
A better alternative to the Horizon Gold Card is a secured card like the Discover it® Secured Credit Card.
Secured cards require a minimum security deposit to fund your account and are a great way to build credit. The Discover it® Secured Credit Card requires a refundable $200 security deposit and also has a rewards program.
With a $0 annual fee and a cashback rewards program, the Discover it® Secured Credit Card provides you the opportunity to build credit and earn rewards. The Discover it® Secured Credit Card lets you earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically
Plus, you can use the Discover it® Secured Credit Card anywhere Discover is accepted without being restricted to an online website like the Horizon Gold Card . If you’re looking for a well-rounded card to build credit and also benefit from additional perks, the Discover it® Secured Credit Card is one of our favorites.
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| Horizon Gold Card | Discover it® Secured Credit Card | OpenSky® Secured Visa® Credit Card | Jasper Cash Back Mastercard® |
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Apply Now on Horizon's secure site
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Apply Now on Discover's secure site
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Apply Now on OpenSky's secure site
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Read Review |
| Annual Fee | |||
| See Terms* | $0 | $35 | $0 |
| Regular APR | |||
| N/A | 25.99% Variable APR | 20.39% (variable) | 16.99% - 26.49% (Variable) |
| Welcome Offer | |||
| N/A | Discover will match all the cash back you’ve earned at the end of your first year. | N/A | None |
| Rewards Rate | |||
| N/A | 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically | None | Get up to 6% cash back by referring friends! Start with 1% and get an extra 1% for a full year for every friend you bring on board |
| Recommended Credit | |||
| Poor | Poor/Limited | Poor/Limited | Excellent/Good/Fair/Poor/Limited |
| Card Details | |||
| Horizon Gold Card | Discover it® Secured Credit Card | OpenSky® Secured Visa® Credit Card | Jasper Cash Back Mastercard® |
The Horizon Gold Card is laden with fees and although you have the potential to build credit with this card, we recommend considering opening a secured card that won’t charge a monthly membership fee, and can provide more benefits.
The information related to the Jasper Cash Back Mastercard® has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.
