Horizon Gold Card
The Horizon Gold Card is an unsecured shopping card. Unlike most credit cards, it is only accepted at a designated 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.
As previously mentioned, this card is only accepted at one place. We do not believe that the products sold on this site are of a high quality.
In addition to the sale price of the item, you also are charged a processing fee for every transaction. They also have the ability to manipulate the prices for the products they sell.
Because the card only reports to one of the three credit bureaus, this card can only help one of your credit reports. If a potential lender does not check the report for that specific bureau, then having the card will make no difference in terms of your credit score.
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.
It is important to have positive reporting credit accounts, but the best way to improve your credit score is to remove the derogatory marks from 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 has passed legislation, the Fair Credit Reporting Act, which protects you and your credit report from dishonest collection agencies and lenders. This act says that a negative mark may remain on your report for a maximum of seven years.
There is nothing said about the minimum amount of time an item must be reported. Further mistakes by lenders account for a lot of inaccurate information on your report. It is estimated that 25% of people have a mistake on their report and that is costing them hard earned money in higher interest rates.
In summary, we recommend a secured credit card and not the Horizon Gold shopping card. Remember too that you have the right to challenge negative items on your credit report and have them removed. You do not need to just live with a low credit score.
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.
As previously mentioned, this card is only accepted at one place. We do not believe that the products sold on this site are of a high quality.
In addition to the sale price of the item, you also are charged a processing fee for every transaction. They also have the ability to manipulate the prices for the products they sell.
Because the card only reports to one of the three credit bureaus, this card can only help one of your credit reports. If a potential lender does not check the report for that specific bureau, then having the card will make no difference in terms of your credit score.
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.
It is important to have positive reporting credit accounts, but the best way to improve your credit score is to remove the derogatory marks from 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 has passed legislation, the Fair Credit Reporting Act, which protects you and your credit report from dishonest collection agencies and lenders. This act says that a negative mark may remain on your report for a maximum of seven years.
There is nothing said about the minimum amount of time an item must be reported. Further mistakes by lenders account for a lot of inaccurate information on your report. It is estimated that 25% of people have a mistake on their report and that is costing them hard earned money in higher interest rates.
In summary, we recommend a secured credit card and not the Horizon Gold shopping card. Remember too that you have the right to challenge negative items on your credit report and have them removed. You do not need to just live with a low credit score.
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.
About the Author:
Instead of the Horizon Gold Credit Card we suggest the prepaid credit card the www.accountnow.com Account Now Visa. For a free credit consultation call 1-800-253-3735.
posted by Debt Consolidation Loan at
3:17 AM
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