Horizon Gold Credit Card , Options and Considerations

For a person with a bad credit history, a Horizon Gold credit card may be a good option to consider in helping you down the road to financial recovery.

For a person with a bad credit history, a Horizon Gold credit card may be a good option to consider in helping you down the road to financial recovery. As with any type of charge card there is information you need to be aware of before signing up.  Application and approval is practically guaranteed when you apply and the Horizon card comes with a credit limit of $500 without the provision of a security deposit or any other collateral requirement.  A credit check is not done when applying, but you will have to provide identification in order to verify you are an American Citizen and over the age of eighteen.   Keep in mind this card is not a Visa or MasterCard, and its use is limited as a result.[br]

The Horizon Gold Credit card is designed to help you by reporting to Equifax or one of the other major credit bureaus every 30 days.  This enables you to rebuild your credit as long as you continue paying your bill on time, each and every month. However, if you are continually late when making your payments, there may be no benefit for you to open a Horizon credit card account as good credit is only built by paying your bills on time and in full each month, so if you aren’t quite ready to re-establish your credit by paying your obligations on time, you might want to consider this as an option for you down the road when you are in better financial condition.

Some of the limitations with this particular credit card is it can only be used with identified Horizon merchants through their webpage.  Before making the plunge with this credit card, check out what products and services are available to you.  Remember, with online shopping you will want to consider the costs for shipping and other charges that may be associated with making purchases online.[br]

As with any credit card, you’ll want to ensure you have a solid understanding of the terms, conditions, and the various fees associated with using the card.   The Horizon Gold credit card has an application fee as well as a fee for late payments and since it is not a traditional credit card, your purchasing power is limited.  Features such as cash advances or other reward programs are not available with the Horizon Gold credit card, but there are some distinct benefits associated with its use.  Services such as roadside assistance and discounts on approved prescriptions are available as well as limited access to legal services.  Make sure you read the fine print to find out all details and limitations associated with these particular services.

Just like when you apply for a regular credit card, you want to check the fine print for any fees or other issues that may be associated with the card.  Remember that this card is a limited use card, but maybe just what you need to rebuild some credit.