Horizon Gold isn’t your typical credit card. In fact, it’s not actually a credit card at all. Rather, it’s a store card that can only be used at the Horizon Outlet store online.

There aren’t any bonuses, or even great terms with this card, but there’s no credit or employment check to get approved—which should automatically leave you suspicious.

You will receive a $500 credit limit that comes with an unsecured card, which also comes with a 0 percent APR. In addition, you’ll receive roadside assistance, discounts on prescription medicines, and access to My Legal Assistance benefits.

But, these features don’t really outweigh some of the cons associated with Horizon Gold.

Horizon Gold Key Features

$500 credit limit

Unsecured

No credit check

Credit bureau reporting

Fast online application

No employment requirements

Benefits like My Privacy Protection, My Universal RX, My Legal Assistance, and roadside assistance

Horizon Gold Rates & Fees

There are some hefty fees to consider when applying for Horizon Gold, including:

Annual Fee

The biggest drawback to Horizon Gold is its annual fee. You’ll pay almost $300 per year ($24.95 per month) for the card. That’s comparable to (or higher than) some of the premium cards.

Again, this is where secured cards may be better. You’ll have to pay you’re a down payment to get a credit line, but there’s typically no annual fee.

Credit Limit

You’ll receive a $500 credit limit with this card, which is competitive compared to some secured cards, but definitely not all.

APR

The biggest benefit of this card is that you don’t have any APR or interest to worry about as it’s 0 percent.

The minimum monthly payment is 10 percent of the account balance, or $25—whichever is greater. If your balance is less than $25, you’ll be required to pay your entire balance.

But, as long as you pay your credit card in full each month, you won’t have to worry about APR with other credit cards.

Late Payment Fee

Horizon Gold has a $20 late payment fee, which is lower than most credit cards out there (generally $37), but is still high, so make sure you’re paying off your balance on time every month.

Additional Fees

Horizon Gold also has a few fees that most credit cards don’t. Since it is more like a store card, your orders need processing and handling. Therefore, you’ll be charged $2.50 for delivery signature verification and $2 for residential delivery.

Activation Fee

There is a $5 account validation fee charged when you first open your Horizon Gold account.

Is the Horizon Gold Credit Card Right For You?

As I said earlier, we do not recommend this product for most people. The only people that should bother applying are those who are trying to build their credit but prefer not to have their credit or employment checked.

The one exception is those who like to do all their shopping online. If you’re looking to build credit, want a decent credit card limit, 0 percent APR, a few benefits, and can find decent deals on the Horizon Outlet, this card is worth checking out.

However, the annual fee, lack of rewards, and uncompetitive prices on the outlet could sway even that crowd against applying.