This expensive card could be a poor choice if you’re trying to build credit.
- Get this card if… you want to shop at the Horizon Outlet.
- Pick something else if…you don’t want to shop at the Horizon Outlet or you’re trying to build credit.
- Recommended credit score of 300-619 (poor). Consumers with new credit are also welcome to apply. Learn more about credit scores.
At first glance, the Freedom Gold Card seems like a solid choice. You can get it relatively easily because it requires no credit check, income verification or employment details.
Unfortunately, the card is expensive. On approval, you’re automatically enrolled in the Horizon Card Services membership plan, which costs $24.95 a month. Over a year, that’s $299.40 — a high price for any credit card.
What services come with the Horizon Card Services membership plan?
Horizon Member Benefits includes:
- My Privacy Protection. Access your credit report.
- My Universal RX. Receive 40% off eligible prescriptions and medications at participating pharmacies.
- My Roadside Protect. Get access to towing, fuel delivery, lockout service and flat-tire change service.
- My Legal Assistance. Get access to legal help, including a 30-minute consultation with a legal professional.
Use the Freedom Gold Card at Horizon Outlet
The card comes with an unsecured credit line of $500. But you can use this card only at Horizon Outlet, an online retailer. There you’ll find such items as:
- Women’s, men’s, kids’ and baby apparel.
- Bed, bath and kitchen products.
- Toys and seasonal items.
- Auto finance and prepaid or secured cards.
You’ll get 0% APR on everything you buy with the card. However, watch out for a $2.50 delivery signature fee and $2 residential delivery fee for each of your purchase shipments.
Should I get the Freedom Gold Card to build credit?
The Freedom Gold Card claims to help its cardholders rebuild their credit. But if you’re trying to build credit, you have better options: The card’s monthly fee can get expensive, and the provider reports your payment history to only one major credit bureau.
Look for a secured credit card instead. You can find one that’s relatively easy to be approved for and that reports your payment history to all three major credit bureaus. If cost is a concern, look for a secured card with a low deposit.
The best secured credit cards of 2017
The nuts and bolts
|Product name||Freedom Gold Card|
|Issuing bank||Horizon Card Services|
|Recommended credit score range||300–619 (poor); consumers with new credit are welcome to apply|
|Annual fee||$299.40 — which includes automatic enrollment in the $24.95/mo. membership benefit plan|
|Intro purchase APR||None|
|Intro balance transfer APR||N/A|
|Balance transfer fee||N/A|
|Foreign transaction fee||N/A|
|Cash advance rate||N/A|
|Cash advance fee||N/A|
|Late payment fee||$20|
|Returned payment fee||$25|
|Maximum credit limit||$500|
|Minimum interest charge||$25 or 10% of the account balance owed, whichever is greater; if the balance is less than $25, the minimum payment equals the balance|
- $500 credit limit.
You’ll receive a $500 credit line to spend on Horizon Outlet purchases.
- Easy approval.
Credit checks, income requirements or employment requirements aren’t required to get the Freedom Gold Card.
- No interest.
You’ll receive 0% APR on all purchases.
- Horizon Card Services monthly membership benefit plan.
The membership plan includes benefits and discounts on your credit report, prescriptions, roadside assistance and legal help.
You’ll also like
- Reporting to at least one credit bureau. The Freedom Gold Card can help you raise your credit score with responsible use.
What to watch out for
- Card valid only at Horizon Outlet. The Freedom Gold Card is a store card that can be used only to shop from the online Horizon Outlet catalog.
- Automatic membership enrollment. After you open the card, you’ll start paying $24.95 a month for the Horizon Card Services membership.
- Card issuance and account validation fee. When you open your account, you’re charged a one-time $5 fee.
- Shipping and processing fees. Before your Horizon Outlet items are shipped, you’ll pay a $2.50 delivery signature verification fee and $2 residential delivery fee.
- Minimum monthly payment. Most credit cards charge only a few dollars for minimum monthly payments. With the Freedom Gold Card, you must pay at least 10% of your balance each month.
- Fees for returned or NSF payments. You’ll pay up to $25 per infraction.
- Fees for late payments. Late payments cost $20 each.
Consider other cards if
- You’re not interested in the Horizon Outlet. Consider another card for your preferred stores. If you want a card you can use elsewhere, considered a general credit card.
What should I know before I apply?
To apply for the Freedom Gold Card, you must be at least 18 years old. You must also have an active US credit card, debit card or checking or savings account.
Always consider your options and your financial situation before you apply for a credit card.
Information you’ll need
- Your full name and contact information
- Your income details
- Debit or credit card information
What credit score do I need?
Because the Freedom Gold Card requires no credit checks, you can qualify with any credit score.
How to apply for the Freedom Gold Card
1. Go to the Freedom Gold Card website. Enter your email and ZIP code, and click Continue Activation.
2. Enter your full name, contact information and income details.
3. Enter your debit or credit card information and click Activate My Card Now to complete your application.
I got the card. Now what?
- Keep up with payments. Your minimum monthly payment is at least 10% of your current balance.
- Avoid fees. Late and returned payments cost up to $25.
- Customer service. For support, you’re limited to calling Horizon Member Services at 1-800-251-6144 weekdays during business hours.
The Freedom Gold Card allows you to shop at the Horizon Outlet, an online retailer, with 0% APR. However, given a required monthly membership fee, it’s expensive. While it claims to help those with poor credit rebuild their financial histories, you’re better off looking for a secured credit card.