Freedom Gold Merchandise Card
The Freedom Gold Card is a "merchandise card," also known as a catalog or store card, that provides an unsecured credit line for a specific online retail store called TheHorizonOutlet.com. It is not a standard credit card and is intended for individuals with poor, fair, or bad credit who may not qualify for traditional credit options.
Freedom Gold Card
- $750 Unsecured Credit Limit (Usable only at TheHorizonOutlet.com)
- Instant Approval*
- No Credit Check
- No Employment Check
- Fast online application
- Bad Credit - OK
- CLICK HERE TO APPLY ONLINE
*See site for details
How the Freedom Gold Card works
- Credit limit: The card offers an unsecured $750 credit limit that can only be used for purchases on TheHorizonOutlet.com.
- Instant approval: The application promises instant approval with no credit or employment checks required, making it easy to obtain even with a low credit score.
- Merchandise purchasing: Unlike a conventional Visa or Mastercard, this card is not for general use. It functions solely as a store card for the affiliated catalog.
What to consider before applying
While the Freedom Gold Card can provide access to credit for those with poor credit histories, it has several drawbacks compared to traditional credit cards.- High fees: Catalog cards like this one can have numerous fees that reduce your initial credit limit.
- Limited use: The card can only be used at TheHorizonOutlet.com, and the merchandise selection may be expensive or limited compared to other retailers.
- Potentially high APR: Some catalog cards come with very high interest rates.
- Minimal credit-building benefit: Although it can help build your credit by reporting to credit bureaus, it is far less effective than other options designed for that purpose, such as secured cards.
Alternatives for building credit
For those looking to build or repair their credit, other options are generally more effective and provide greater long-term financial benefits.- Secured credit cards: These require a refundable security deposit, which serves as your credit limit. They are designed specifically for credit building and offer greater versatility than a merchandise card.
- Subprime credit cards: These are unsecured cards for people with bad credit. While they may have high interest rates and fees, they can be used anywhere and are more versatile than a store card.
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FICO® Credit Scores
FICO® Score Ranges:
- Exceptional: 800–850
- Very Good: 740–799
- Good: 670–739
- Fair: 580–669
- Poor: 300–579
What is a Credit Score?
A credit score is a three-digit number, typically ranging from 300 to 850, that predicts your creditworthiness—how likely you are to repay borrowed money on time. Lenders use this score to assess the risk of lending to you and to determine the interest rates and terms of any credit you might receive.
Why is a Credit Score Important?
A credit score is important because it acts as your financial reputation. Lenders, landlords, insurers, and employers use this single number to quickly judge how reliable you are with money. A higher score helps you qualify for loans and credit cards, often securing lower interest rates that can save you significant money. Conversely, a poor credit score can lead to application denials or much higher costs for borrowing, making it a key factor in your overall financial opportunities.
FICO® Credit Score Facts
- Three-Digit Number: Like other credit scores, FICO® Scores are a three-digit number that summarizes a consumer's credit risk.
- Range: Most standard FICO® Scores range from 300 to 850. Higher scores indicate lower credit risk.
- Data Source: FICO® Scores are calculated using data from your credit reports maintained by the three major credit bureaus: Experian, Equifax, and TransUnion. Your score may vary slightly depending on which bureau's data is used.
- Industry Standard: Lenders rely on FICO® Scores for mortgages, auto loans, and credit cards because they provide a consistent, statistically sound assessment of the likelihood that a borrower will repay their debt.
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