Horizon Gold Card
The Horizon Gold Card is an unsecured shopping card, meaning that it is only accepted at one specific Web site.
Often, people with poor credit scores will apply for this card because it reports to a major credit bureau.
They guarantee approval and do conduct a credit check. There is no minimum income requirement, or employment verification.
The initial credit limit will be $500, and they charge an application fee as well as a monthly fee.
However this card is only accepted at one location. We highly doubt that the goods sold at this location are quality or durable goods.
In addition, there is the possibility that they could manipulate the prices for the goods that they sell. They also charge a processing fee for every purchase.
Further your account is only reported to one bureau. This can only help one of your credit reports. If a potential lender does not check that bureaus report you are in the same place with or without the card.
While it is a good idea to take steps to improve a low credit score, this is not a step that we would suggest.
As an alternative, we recommend applying for a secured credit card, which will guarantee approval and report to all of the three credit bureaus.
A secured credit card is accepted everywhere. You will be required to secure the card with an initial deposit, but as long as the account is closed on good terms, your deposit is fully refundable.
While it is important to have positively reporting accounts the most effective method of improving your score is by removing negative items on your credit report.
There is a lot of information that says a negative mark must remain on your report for seven long years. This couldn't be further from the truth.
In reality every mark can be removed from your report. You do not just have to live with the high cost of bad credit.
Congress passed legislation to protect you and your report from unethical lenders and collection agencies. This legislation is the Fair Credit Reporting Act and it says that a negative item can be reported for a maximum of seven years.
However, no mention is made of a minimum amount of time. In addition, there may be mistakes and inaccurate information on your credit report. In fact, it is believed that one-quarter of the population have incorrect items on their credit reports that could be costing them a lot of hard-earned money in higher interest rates.
To conclude, we do not recommend the Horizon Gold shopping card, we suggest getting a secured credit card instead. Also keep in mind that you do not need to live with a poor credit score. It is your right to contest derogatory items on your report and have these marks removed.
Getting rid of these negative marks is the best way to increase your credit score and give you and your family a higher quality of life. In addition, there isn't a better feeling in the world than knowing that you can be approved for a new line of credit.
Often, people with poor credit scores will apply for this card because it reports to a major credit bureau.
They guarantee approval and do conduct a credit check. There is no minimum income requirement, or employment verification.
The initial credit limit will be $500, and they charge an application fee as well as a monthly fee.
However this card is only accepted at one location. We highly doubt that the goods sold at this location are quality or durable goods.
In addition, there is the possibility that they could manipulate the prices for the goods that they sell. They also charge a processing fee for every purchase.
Further your account is only reported to one bureau. This can only help one of your credit reports. If a potential lender does not check that bureaus report you are in the same place with or without the card.
While it is a good idea to take steps to improve a low credit score, this is not a step that we would suggest.
As an alternative, we recommend applying for a secured credit card, which will guarantee approval and report to all of the three credit bureaus.
A secured credit card is accepted everywhere. You will be required to secure the card with an initial deposit, but as long as the account is closed on good terms, your deposit is fully refundable.
While it is important to have positively reporting accounts the most effective method of improving your score is by removing negative items on your credit report.
There is a lot of information that says a negative mark must remain on your report for seven long years. This couldn't be further from the truth.
In reality every mark can be removed from your report. You do not just have to live with the high cost of bad credit.
Congress passed legislation to protect you and your report from unethical lenders and collection agencies. This legislation is the Fair Credit Reporting Act and it says that a negative item can be reported for a maximum of seven years.
However, no mention is made of a minimum amount of time. In addition, there may be mistakes and inaccurate information on your credit report. In fact, it is believed that one-quarter of the population have incorrect items on their credit reports that could be costing them a lot of hard-earned money in higher interest rates.
To conclude, we do not recommend the Horizon Gold shopping card, we suggest getting a secured credit card instead. Also keep in mind that you do not need to live with a poor credit score. It is your right to contest derogatory items on your report and have these marks removed.
Getting rid of these negative marks is the best way to increase your credit score and give you and your family a higher quality of life. In addition, there isn't a better feeling in the world than knowing that you can be approved for a new line of credit.
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Instead of the Horizon Gold Credit Card we suggest you look at some prepaid credit cards and Bad Credit Cards. For a free credit consultation call 1-800-253-3735.
posted by Credit Counseling at
9:32 AM
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