Gold Horizon Credit Cards
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.
The card offers guaranteed approval. They do run a credit check, but they do not require employment verification and there are no minimum income requirements.
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.
Additionally they can manipulate the prices for these goods. You will also be charged an extra processing fee for every purchase you make.
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.
Although taking steps to increase a poor credit score is a sensible decision, we do not recommend this card as one of those steps.
Instead, consider getting a secured credit card. Secured cards also guarantee approval, but they report to all three credit bureaus.
Secured cards require an initial deposit to secure the card, but the deposit is 100% refundable, provided that you close the account on good terms. In addition, secured credit cards are accepted everywhere.
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.
The Fair Credit Reporting Act makes no mention of a minimum amount of time that an item must remain on your report. Additionally, there may be mistakes by lenders or other inaccurate information on your credit report. Estimates say that 25% of credit reports contain errors, which could be costing them a great deal in high interest rates.
In sum we do not suggest the Horizon Gold shopping card; instead we suggest a secured card. Additionally you do not just have to live with a damaged credit report, it is your right to challenge and remove these negative marks.
Removing negative items from your credit report is the most effective way to improve your credit score. In addition to providing you and your family with a higher quality of life, you will be afforded the wonderful feeling of 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.
The card offers guaranteed approval. They do run a credit check, but they do not require employment verification and there are no minimum income requirements.
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.
Additionally they can manipulate the prices for these goods. You will also be charged an extra processing fee for every purchase you make.
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.
Although taking steps to increase a poor credit score is a sensible decision, we do not recommend this card as one of those steps.
Instead, consider getting a secured credit card. Secured cards also guarantee approval, but they report to all three credit bureaus.
Secured cards require an initial deposit to secure the card, but the deposit is 100% refundable, provided that you close the account on good terms. In addition, secured credit cards are accepted everywhere.
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.
The Fair Credit Reporting Act makes no mention of a minimum amount of time that an item must remain on your report. Additionally, there may be mistakes by lenders or other inaccurate information on your credit report. Estimates say that 25% of credit reports contain errors, which could be costing them a great deal in high interest rates.
In sum we do not suggest the Horizon Gold shopping card; instead we suggest a secured card. Additionally you do not just have to live with a damaged credit report, it is your right to challenge and remove these negative marks.
Removing negative items from your credit report is the most effective way to improve your credit score. In addition to providing you and your family with a higher quality of life, you will be afforded the wonderful feeling of 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 Account Now Visa. For a free credit consultation call 1-800-253-3735.
posted by Debt Consolidation Loan at
11:21 AM
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