There are hundreds of amazing credit cards out there for people who are looking to build credit or even rebuild their credit. However, the Horizon Gold credit card is not one of them. This credit card is one that is for people who have bad credit and those who have filed for bankruptcy in the past. While it seems like a good offer, the card is for a very limited store and it’s actually a line of credit. Many people choose to take on this line of credit as a way of boosting their credit score and improving their financial future. But several people have questioned this and how it works. The company claims that they report to the credit bureaus throughout the year and that this is how they help you rebuild your credit. However, there are a few things that Horizon Gold credit cardholders have to complain about that the company does not advertise when looking for people to apply for their card.
The Card Cannot Be Used Just Anywhere
It might sound like the name of a bank of some sort, but it is not. The Horizon Gold credit card is one that can only be used at a specific store, and the products are not things you might be interested in on a regular basis. Additionally, they are more expensive than just purchasing those things at a regular store. For this reason, it’s often a card that just doesn’t make sense for everyone.
The Fees are Excessive
If you carry this line of credit, you will quickly realize that you will pay a monthly fee that’s very expensive. It’s not worth the card and the credit reporting when you have to pay a fee of $29.99 a month just to have this line of credit with a store you might or might not use on a regular basis.
Reporting is Sketchy
While some customers of this line of credit state that their credit score improved after making several on-time payments, others state that the same is not true for them. Many consumers state that they held onto this line of credit for a year or more and never had their payments reported to any credit bureaus. The choice is up to you, but it seems that overall this is not the card you want to use.
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