In fact, we have turned down relationship request from issuers that want to influence our reviews. Compensation may impact how and where we place products for example, the order which they are placed on a category page. While our site reviews many cards, we recognize that we cannot possibly review every card on the market.
Our editorial and consumer star ratings are based on independent reviews and not influenced by compensation and affiliate relationships. Guaranteed Approval. Advertiser Disclosure. The Horizon Gold Card is a paid membership shopping card which extends a credit line and actually reports to at least one credit bureau.
What is Horizon Gold Card? By : Mr Credit Card. According to Horizon Gold, they do report to one major credit bureau. A better way to think of them is a line of store credit with some additional benefits. Both private-label and catalog cards are easier to qualify for than co-branded or premium credit cards, but they can leave you limited in your purchase options or stuck with recurring membership fees.
A better option for people with bad credit, or for those looking to build their credit, is a secured credit card. Although it has a smaller initial line of credit, the Fingerhut Credit Account issued by WebBank has virtually no fees. Take a look at how these three cards compare with each other below.
Horizon Gold Credit Card is an ideal card for dedicated bargain shoppers who have bad credit and rely on online purchases. The issuer did not provide the details, nor is it responsible for their accuracy. Editorial Note: Compensation does not influence our recommendations. However, we may earn a commission on sales from the companies featured in this post.
To view our disclosures, click here. Reasonable efforts are made to present accurate info, however all information is presented without warranty. The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar. To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. For example, if we look at CD products for Ally, it scores a 4.
However, when we apply the metrics we measure for money market account SimpleScores, Ally scores a 4. These two different financial products have two separate SimpleScore metric ratings to account for differences between them. We adjust our ratings based on industry standards for each category.
Email Hayley Armstrong at hayley thesimpledollar. We compared the required minimum deposit to open a money market account. These benefits are available only to the person whose name is on the account.
You may add family members, but you have to call customer service to get pricing. The Horizon Gold could help in this area, but maybe not as much as you might think. For starters, it reports to "at least one major credit bureau" — but not all three bureaus, like many true credit cards do.
This matters because you generally don't know what bureau a future potential lender might check when determining your creditworthiness. If the lender checks a bureau that Horizon Gold hasn't reported to, you may be out of luck. Moreover, the Horizon Gold is reported as a charge card, rather than a credit card. Credit utilization is the second-biggest factor impacting your credit scores. That said, charge cards can still impact your credit.
On-time payments are highly important to good credit health — paying on time is the most important thing you can do for your scores — and length of credit history helps, too, if you keep the card open for a long time which you might not want to do in this case because of its expensive fees. According to complaints to the Better Business Bureau, customers who attempted to cancel their Horizon Gold account ran into difficulties getting fees refunded when they did so.
The Horizon Outlet offers a range of merchandise, including apparel, home goods, electronics and financial services.
In a web search of complaints, shoppers at Horizon Outlet reported exorbitant shipping costs. There are much better, less costly options out there for those with bad or limited credit.
For many, the best way to build credit is with a secured credit card.
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