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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: Horizon Gold Card
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Thu Dec 11, 2008 2:22 am
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| Hi, everyone. i received a "you're approved" thing, in the mail. It's from Horizon Gold Card. It says "you have $500.00 unsecured credit line." Can anyone tell me their experiences, if any, with this card? Does anyone know if this is a 'shopping' card,etc.? |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 165
Location: McKinney, TX
219 Magic Points
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Thu Dec 11, 2008 2:26 am
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Horizon is basically a "sub-prime" card... The fees and interest rates are a little high, but if you have no revolving credit that's good, you have to "crawl before you can walk"...
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-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: credit
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Thu Dec 11, 2008 2:28 am
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| True...you do. "Sub-prime card?" What is that? Is it for a 'their' catalog, etc.? cash advance? |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17413 Magic Points
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Thu Dec 11, 2008 11:09 am
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Sub prime credit card is just like an ordinary credit card but you can avail such a card even if you have a moderate credit score or a low credit score or in other words you do not have a good credit history. These types of credit cards are issued both by small financiers as well as major credit card providers. Interest rates on sub prime credit cards are generally much higher as compared to normal or prime credit cards and should therefore be used with care as the interest payments on such cards may add to the outstanding debt amount thereby increasing the outstanding debt putting you in debt trap.
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Where there's a will, there's a way !! |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: credit
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Thu Dec 11, 2008 11:27 am
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| OIC!! Well........I appriciate the advice. i was just looking at my CR's ( through Annual CR(dot) com) and found thst I don't have any 'revolving credit'. Is Horizon Gold Card one of those 'revolving credit' things? |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1093
25288 Magic Points
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Thu Dec 11, 2008 11:30 am
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Yes, Mary is right. Interest payments on sub prime credit cards can be as high as 30%. Normally there are lower credit limits on sub-prime credit cards as compared to normal credit cards and unlike the normal credit cards, most of the sub-prime credit cards may have annual charges and lower grace periods as compared to normal credit cards.
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All the Best 
Justin |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17413 Magic Points
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Thu Dec 11, 2008 11:36 am
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Hi Chargers
As far as I know, all credit cards are revolving lines of credit because there are some credit limit associated with every credit card and once you make purchases with the credit card, the credit limit reduces by the amount of your spending. Again when you pay off the money to the credit card company, your credit limit increases to the previous amount and this process continues.
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Where there's a will, there's a way !! |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: credit
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Fri Dec 12, 2008 6:16 am
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| I was looking on the Horizon website again.just to see if I 'missed' anything. According to their website, they have "0% rate." If this is a 'rebuilding your credit' type card, you would think that the % rate would be 'higher than normal'. They don't check your credit with this card, according to the website. |
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norbert
Joined: 17 Dec 2008
norbert's page
Posts: 1
40 Magic Points
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Wed Dec 17, 2008 8:22 am
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| Hi, I am new to this forum. Its costly and not a real CC,You can buy few items from there store only...Its for few people who need to build score. Its NOT a VISA OR MASTER CARD nor American express or mastero.You can Not use it as a credit card. [deleted] violation of forum rules - Richard |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: credit
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Thu Dec 18, 2008 3:57 am
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| Thank you, NORBERT for the advice. i was kind of 'leaning' that way....just couldn't find ALOT of answers to my questions on their website. I've looked at some Secured CC's. Some of them ( according to the website..) don't report to the CB's. I would think they would, if you're trying to improve your credit by using them. |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1308
28489 Magic Points
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Thu Dec 18, 2008 7:14 am
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Credit cards like Horizon are departmental store cards and can definitely be used to build up your credit score. These cards offer facilities like reward points on every purchase in the departmental stores where the card is accepted. But what happens is that we normally get attracted by the reward points and sometimes make purchases on these cards without considering whether we can pay back in time or not. This may prevent you from building up a good credit score. So if you can keep track of your spending on such cards, you can definitely build up a good credit history.
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Keep in touch
Carol |
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keke
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Subject: horizon gold card is a scam
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Fri Dec 19, 2008 4:31 am
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| Sorry but the people that are telling you that this is a "sub prime" credit card don't know what they're talking about. It's not a credit card at all. You can only use it on their website and from what I've read from disgruntled people that have these cards, its hard to even use to card to order products from the intended site. I have bad credit and received one of their postcards in the mail today saying that I was approved for a $500 credit limit and I automatically knew something was fishy. Google "horizon gold card fraud" and you'll see the vast number of people that have been scammed by this company. They've had $89 taken from their banking accounts every month when they don't even use the card. I'm glad I did some research before signing up for this con card. |
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keke
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Subject: by the way....
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Fri Dec 19, 2008 4:51 am
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| Horizon Gold Card does NOT report to any credit bureau so there's no way that having a card from them will help rebuild your credit. If anything they will destroy it because even after "trying" to cancel they still bill your debit card which will put you in more debt than you originally had. I've been scammed in the past and if I can prevent it happening from at least one person I'll feel better. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1334
1 Magic Points
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Subject: credit
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Fri Dec 19, 2008 6:05 am
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| WOW!! Thanks ya'll!! I REALLY appriciate ALL of the advice. i wasn't sure what I was gonna do. Why would they charge you $89.00, per month, even if you were NOT using the card?? GOSH...what a rip-off! KEKE....you sure 'saved' me from getting this card.......thanks, again. |
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keke
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Subject: no problem
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Fri Dec 19, 2008 2:38 pm
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| So glad I could help! After being scammed years ago I'm very cautious about "offers" and I make sure I look for feedback just like you're doing here. Good luck to you =) |
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