Horizon Gold review
Watch out for fees that can add up quickly.
- Get this card if you only want to use it at the Horizon Outlet website.
- Pick something else if you want a universally accepted card with fewer fees.
- Apply with a poor credit score of 300 or higher.
Up to $299.4
Recommended credit score
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The Horizon Gold card comes with a high monthly membership fee of either $6 or $24.95, depending on your membership plan. It also comes with a whole slew of other fees, such as a $2 delivery charge and a $3.50 delivery signature charge. In the end, you could end up paying more than $300 annually for the card. This is unbelievably expensive for a card that you can’t use anywhere else except at the Horizon store.
You can apply for the card with poor credit and you won’t get a hard pull. However, Horizon Gold reports only to one credit bureau, which makes it hard to build your credit score. On the positive side, you get an unsecured credit line and no interest rates on your purchases.
But unless you spend a lot of money on the Horizon Outlet store and you use the membership benefits, there’s not much value you can get from this card that you can’t get elsewhere.
What to watch out for
- Only works for the Horizon Outlet website.
You’re limited to using this card only on the Horizon Outlet. You won’t be able to pay for your groceries or gas with this card.
- High monthly fee.
You’ll pay a monthly fee of $24.95 — about $299.40 annually. And consider if you need the services offered in the membership benefit plan enough to warrant the cost of $24.95 a month.
- Other fees.
- One-time $5 fee for card issuance and account validation
- Shipment signature verification fee of $3.50 for purchases from the Horizon Outlet
- $2 delivery fee for purchases from the Horizon Outlet
- Minimum monthly payment.
The minimum monthly payment is $25 or 10% of the balance owed, whichever is greater. If after paying a balance the new figure is less than $25, the next minimum payment will be the total amount of that balance. Standard credit cards require you to make a minimum payment between 1% and 3%, so 10% for this card is too high.
- Reports to one credit bureau.
This card is aimed at those with low or no credit, but it might not be the best for building credit. Your payment history is reported to just one major credit bureau instead of all three. Look for a credit-building card if that’s what you need.
- Credit limit.
Get a $500 unsecured credit limit. Considering you have to cover all the fees, expect your available credit limit to significantly drop.
- No credit check.
Apply with poor or no credit. And since Horizon doesn’t pull your credit, it’s not impacted when you apply.
- No APR on purchases.
Cardholders enjoy no interest on any purchases made with the card. But there are other fees to compensate for this.
- Horizon services membership plan.
Depending on your needs, you might benefit from the Horizon monthly membership, which comes with benefits such as roadside assistance, pharmacy discounts and legal assistance — for $24.95 monthly.
Compare store cards
How to apply for the Horizon Gold
To apply for the card, you must be at least 18 years old and have an active US checking or savings bank account.
- Click Apply now.
- Complete the application with your personal and financial details
- Fill in your debit or credit card information, then click Activate my card now
What credit score do I need?
You can apply with a poor credit score of 300 or higher. However, those with higher credit scores or who are looking to rebuild their credit may find better options elsewhere.
There are better cards out there for those with poor credit. With high fees and credit reporting to only one bureau, we don’t see a great benefit to signing up for the Horizon Gold — even if you frequently shop on the Horizon Outlet.
For its fee of about $299.40 a year, you can get better cards to use anywhere, and you might earn rewards on your purchases.
But if you want a card that you can use on a specific department store brand, consider checking out other store cards to find the best card for your needs.