The Horizon Gold Card is aimed at people who have poor credit, and those seeking to rebuild their credit history after a bankruptcy. Unfortunately, the Horizon Gold card is one of the worst secured cards out there.
The card can only be used online at thehorizonoutlet.com (which I’m not even going to link to) and comes with substantial fees. Let’s take a look at why you should avoid this card at all costs.
Editor’s Note: If you are looking for a credit card even though you have poor credit or no credit, check out this Guide.
Bonus Deal or Bogus Deal?
To begin with, when you try to apply for the Horizon Gold card you’re immediately greeted with a “bonus deal,” announcing you qualify for an instant $1,000 payday loan in addition to the credit card. This predatory practice is merely trying to get even more money from individuals who have poor credit, for one reason or another.
The Horizon Gold Card gives you an immediate $500 unsecured credit limit with guaranteed approval pending the verification process. There is no credit check, although you’re required to have an active debit card or credit card in your name.
You should immediately be suspicious when you’re asked to provide your debit card information.
The Horizon Gold Card can be used exclusively at thehorizonoutlet.com, and there is no way to even view the website and what they sell WITHOUT signing up. Don’t be fooled; the Horizon Gold Card is not a credit card.
As you enter the website you probably won’t even notice the pre-acceptance disclosure, which is in a very small frame hidden at the top of the page. You’ll find the following statements in the disclosure:
Horizon Card Services is not a credit services organization, banking institution or insurance company.
This product is not a Visa, Mastercard or debit card. Horizon Card Services Account is a line of credit that can be used exclusively at our online shopping website.
Horizon Card Services does not attempt or claim to attempt to repair a customer’s credit history.
The Troubling Fees Associated With This Card
When you make purchases on the Horizon Outlet website, you will pay for the item as well as a processing fee and shipping and handling. There is also a one-time validation and card issuance fee of $5. Most troubling, however, is the monthly fees you will incur as soon as you open this credit card account.
BEWARE: $24.95 will be automatically debited from your debit or credit card every month.
There is also a $6 per month maintenance fee that is waived if your account is active.
- $24.95 monthly fee automatically debited from your debit/credit card
- $6 per month maintenance fee for non-active memberships
- 0% APR for purchases
- NSF check fee: $25
- Late payment fee: $20
- Outlet Store Delivery Signature Verification: $2.50 (automatically added to every order)
- Outlet Store Residential Delivery: $2.00
- One time Card Issuance and Account Validation fee: $5.00
- Defective items replaced if you pay additional shipping and handling
Final Thoughts and Wrap Up
The Horizon Gold Card is not a credit card, it is just a costly membership program to an outlet website that you can’t even view until you sign up. The card can only be used at the Horizon Outlet program and automatically charges your debit card $24.95 per month! While this card technically isn’t a scam, it does take advantage of people with poor credit. We highly recommend that you avoid the Horizon Gold Card at all costs.
