The Horizon Gold Credit Card is a starter card for people looking to tap into an unsecured line of credit. This catalog card comes with a $500 line of unsecured credit, allowing you to purchase items from the issuer’s catalog, the Horizon Outlet. The catalog sells women’s and men’s clothing, kids’ clothing, toys and home goods. The prices are generally comparable with Walmart, so if cardholders take advantage of Doorbusters sales, they can get good deals on select merchandise even once the delivery and signature verification fees are factored in.
Horizon Gold Credit Card has some additional perks in the form of roadside assistance, prescription drug discounts and legal assistance. It is easy to get approved for the credit card, even if you have bad or limited credit — in fact, there’s no employment or credit check. The application is simple to fill out, and you’ll be approved online as soon as you complete it.
What we like about the Horizon Gold Credit Card
- No employment or credit check needed.
- Horizon Gold Credit Card reports to at least one credit bureau every 30 days, so using the card will help you to build credit.
- There is a 0% APR rate on purchases made with the card.
- The card offers some perks, such as limited roadside assistance (three times annual, for a maximum amount of $50 each time), a 30-minute free legal consultation and prescription drug discounts.
Things to consider
- Horizon Gold Credit Card is a type of private-label card, meaning that you can only use it to make purchases from the Horizon Gold catalog.
- The $24.95 membership fee, auto-debited from your bank account each month, adds up to a steep $299.40 annual fee a year.
- There are additional residential delivery and “signature verification” fees — for a total of $4.50 — each time you have catalog merchandise delivered to your home.
- Although the card offers prescription drug discounts of up to 40% through My Universal RX, you won’t find out if your medications are discounted or if your local pharmacy participates until you become a cardmember.
- Catalog merchandise is fairly priced but limited in stock.
Catalog card details
Catalog cards are a type of private-label card that allow the cardholder only to purchase items from one retail outfit. In particular, the Horizon Gold Credit Card will allow you to purchase anything at the Horizon Outlet. Most catalog cards do not always report to the three main credit bureaus, so if you want to build credit using this type of card, you need to read the terms carefully. Luckily, the Horizon Gold Credit Card does report to at least one major credit bureau once every 30 days.
A catalog card should not be confused with co-branded insignia credit cards, which have an arrangement with a retailer but allow you to make purchases wherever the insignia is accepted. In fact, catalog cards are not really credit cards. 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.
Horizon Gold Credit Card fees
Horizon Gold Credit Card charges a $24.95 membership fee that is deducted automatically from your bank account each month. If you can’t make this payment for whatever reason, you will be demoted to the basic starter benefits plan, which charges a $6.95 membership fee and a $6 maintenance fee each month. The benefits with the basic membership are essentially the same; you just don’t get roadside assistance.
Other fees include a $2.00 delivery fee each time you order from the catalog and a $2.50 “signature verification” fee once the merchandise arrives at your door. There is also a $15 card validation fee, a $20 late payment fee and a $25 NSF check fee.
How does it compare to other catalog or secured cards?
Horizon Gold Credit Card gives cardholders an unsecured $500 line of credit, which is more generous than most cards for people with bad credit. Although it has a smaller initial line of credit, the Fingerhut Credit Account issued by WebBank has virtually no fees. If you can afford a security deposit, Discover it® Secured is probably the best deal overall, though, because you can use it wherever Discover is accepted and earn cash back on purchases. Take a look at how these three cards compare with each other below.
|Card||Purchase APR||Annual Fee||Intro Bonus||Credit Needed||Key features|
|Horizon Gold Credit Card||N/A*||$24.95||None||Poor||Unsecured $500 line of credit|
|Fingerhut Credit Account issued by WebBank||25.90% APR||N/A||None||Poor||Reports to credit bureaus|
|Discover it® Secured||24.49% Variable||$0||Discover automatically matches all the cash back you’ve earned at the end of your first year.||No Credit History||2% cash back at gas stations and restaurants on up to $1,000 in combined purchases every quarter, automatically. Plus, earn unlimited 1% cash back on all other purchases.|
The bottom line
Horizon Gold Credit Card is an ideal card for dedicated bargain shoppers who have bad credit and rely on online purchases. It’s easy to be approved, and the merchandise offered through Horizon Outlet is reasonably priced. Due to its steep monthly membership fee, though, this catalog card should only be considered if you’ve failed to qualify for other comparable cards. Even then, it’s only a good deal for those who specifically want to shop at the Horizon Outlet.
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