While a credit card can make life easier for most people, bad credit scores may make it difficult for individuals to get a credit card. Certain credit cards are specifically introduced in the market to assist individuals with credit score problems. The companies offering these credit cards report to the credit rating authorities and so reasonable use of these cards can allow individuals to improve on their bad credit. Horizon credit card is one such credit card that helps people in improving their credit. This card is unsecured and is easily available to individuals with bad or low credit scores. The card comes with a credit limit of $500 and also provides its users with an Equifax credit report.
Terms and benefits of Horizon credit card
The Horizon credit card is primarily a shopping card and can only be used for making purchases from Horizon merchant. It is not a Mastercard or Visa card and so cannot be used in other places. The card also reports to the important credit bureaus in a period of 30 days and so responsible use of the card can go a long way in helping card owners to improve their credit history. Because it has limited use, it can be perfect for people having low credit scores and those looking for ways to improve their credit scores.
Card owners are charged monthly fee of $24.95 for certain benefit plans and the monthly maintenance fee is $6. Users are also charged $20 as late payment fees. One of the greatest disadvantage of the card is that it can be used only on the horizon website and does not offer any other benefits that can normally be enjoyed with other credit cards. Card owners can therefore not use it in other stores or take cash advances. The card does not have any reward program and so it is advisable to understand your requirements thoroughly before opting for this card.
Adam in Bank Credit Cards