The Horizon Credit Card promises to provide you with a credit line of $500 with no credit or employment check and guarantees your approval. Before you apply, for the Horizon Credit Card, there are some things you should know.
2- This is a catalog credit card. The Horizon Credit Card is NOT a Visa, MasterCard, Discover, or American Express card and can only be used on the company’s proprietary website to buy overly priced products that they then charge you processing and shipping fees to purchase.
3- They do report to the Trans Union credit bureau as a trade line and it will build your credit.
4- They will increase your credit limit after 6 months of maintaining the credit account.
So the Horizon catalog credit card has both positive and negative points, but what is the best way to use the card or should you even get it.
As far as should you get it, I can not make that decision for you. However, if you decide to get the card, it will cost $24.95 per month and you are only able to get products through their credit card. That being said, you could get the card and never use it and have the positive trade line that has 0 utilization and have it reported to Trans Union as a way to rebuild you credit. You can also call Equifax and Experian and ask that they start reporting it as well. While this can be expensive, if you are having issues getting a credit card for bad credit, this could be the best available way until you get your credit score up enough to get a better card.
At the end of the day, it is all about what works best for you and your financial situation. Make sure you do due diligence so you fully understand what your getting in to and what you need to do to protect yourself while building your credit. You can view the terms of service here (The link will open in a new window or tab)