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Regular Contributor
Flying_High
Posts: 190
Registered: ‎08-12-2012
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Horizon Gold Credit Card

Hello, does anybody have Horizon Gold Credit Card???? i'm trying to build or rebuild my credit and I only have 1 thing open on my credit report and thats capital one secured cc, i would like to get a unsecured card my question is does anyone have Horizon Gold and are they good to have?

 

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Valued Member
AVeryHappyDad
Posts: 45
Registered: ‎07-23-2012
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Re: Horizon Gold Credit Card

You would be better off waiting, building your credit with anohter secured card, or just wait until your scores will get an unsecured card.  That way you can be sure it is useable, and reports to the major CRA's.  Maybe look at a store card you will actualy use.

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Regular Contributor
Flying_High
Posts: 190
Registered: ‎08-12-2012
0

Re: Horizon Gold Credit Card

yeah your right well i do have BOA account so ill just get BOA secured cc since after 1 yr they will put me unsecured, im not really a big fan of store cc's so ill just stick with BOA secured cc,,, thank you

As of 9/13"
Starting Score: 600
Goal Score: 740
Garden till 10/14"
New Visitor
badcreditdan
Posts: 3
Registered: ‎10-04-2012
0

Re: Horizon Gold Credit Card

First off, this is NOT a Visa, Mastercard, Discover, or American Express card.  This card can only be used on the company's proprietary website, and you can find most, if not all, of the products elsewhere for less.  That being said, it does report to Transunion, and does help improve your credit score, just by having an open and active tradeline.  It costs $24.95 per month for your "member benefits", and the initial $5.00 fee(plus the first $24.95) to set up the account.  Compare that to the "regular" credit cards that charge you $225 to "set up" your account, then the annual fees of $120, then the monthly fees of $15, then the 30% interest rate.  I would recommend getting this card to build your credit by having the tradeline reported, but I would not recommend USING it...  Say you see an item for $18, there is a "shipping fee" of $12, and a processing fee of $4, both of which you have to pay up front, then the $18 for the item is financed through your credit line...  You can get the same item on...  let's say Amazon(the site I checked) for $14.98 including shipping!  Never bought anything with it and never will, but it looks freaking FANTASTIC on my credit report- 29 months, never late, and a $3000 limit(they raised it after 6 months).  Oh, and a tip:  Horizon only reports to Transunion, so after a few months write to Experian and Equifax requesting they add the card to your reports with them, as well.

Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
0

Re: Horizon Gold Credit Card


badcreditdan wrote:

First off, this is NOT a Visa, Mastercard, Discover, or American Express card.  This card can only be used on the company's proprietary website, and you can find most, if not all, of the products elsewhere for less.  That being said, it does report to Transunion, and does help improve your credit score, just by having an open and active tradeline.  It costs $24.95 per month for your "member benefits", and the initial $5.00 fee(plus the first $24.95) to set up the account.  Compare that to the "regular" credit cards that charge you $225 to "set up" your account, then the annual fees of $120, then the monthly fees of $15, then the 30% interest rate.  I would recommend getting this card to build your credit by having the tradeline reported, but I would not recommend USING it...  Say you see an item for $18, there is a "shipping fee" of $12, and a processing fee of $4, both of which you have to pay up front, then the $18 for the item is financed through your credit line...  You can get the same item on...  let's say Amazon(the site I checked) for $14.98 including shipping!  Never bought anything with it and never will, but it looks freaking FANTASTIC on my credit report- 29 months, never late, and a $3000 limit(they raised it after 6 months).  Oh, and a tip:  Horizon only reports to Transunion, so after a few months write to Experian and Equifax requesting they add the card to your reports with them, as well.


:smileysurprised: I am hoping this was supposed to be sarcastic.

The reviews are terrible. The fees are disgusting. It only reports to ONE credit bureau. Sounds like a slum lender to me. Stay away. Keep your one secured card, maybe get another with a higher deposit if you are having a hard time with the CL. Good things will come to you if you are patient and responsible with what you have. But adding this just sounds wasteful and a money pit.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: Horizon Gold Credit Card

Holy cow that's expensive!

 

First year costs = $24.95x12mo + $5 initial fee + $6/mo inactive fee (if acct not used). If you only buy over the course of 3 of 12 months, your first year costs alone are $358.40!!! Plus there's a minimum of $2.50 for a delivery confirmation fee per order aside from the normal shipping costs and overpriced items. Also looks like they cap your CL at $500, or at least to start anyway. I made up information just to gain access to the T&C and without providing my credit info, it assigned an automatic $500. Default CL for everyone. Definitely avoid them!! I might be wrong, but I think First Premier has better terms.

 


badcreditdan wrote:

Oh, and a tip:  Horizon only reports to Transunion, so after a few months write to Experian and Equifax requesting they add the card to your reports with them, as well.



That won't work. Horizon Gold is the only one who can initiate the reporting to EX and/or EQ. If they don't report to EX or EQ, then it means they either don't want to pay for access to those two reports or Horizon Gold didn't play by their rules. IIRC other cataloging sites like Ox Publishing and the old Crown Jewelers ran afoul of the CRAs for their reporting practices.

 

 

Established Contributor
calihlove75
Posts: 788
Registered: ‎05-16-2012
0

Re: Horizon Gold Credit Card


Flying_High wrote:

Hello, does anybody have Horizon Gold Credit Card???? i'm trying to build or rebuild my credit and I only have 1 thing open on my credit report and thats capital one secured cc, i would like to get a unsecured card my question is does anyone have Horizon Gold and are they good to have?

 


You are better off getting another secured card and after 6 months applying for a GE store card. Those terms on the Horizon are crazy. I hate to say it, but it makes First Premier look good and at least they report to all 3 bureaus.


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