Finding a credit card can be tough when you haven’t built a credit history yet, or when you’ve had some problems in the past that have left you with a bad credit score. However, it’s important that you fully understand how the card works before you apply.
With a low credit score, you won’t meet the requirements for many credit cards, and you don’t want to apply for several cards and get declined because that can harm your credit score even more. That’s what makes the Net First Platinum card a great choice. It’s the leading credit card for no credit pre-approval and bad credit pre-approval, which means you’re likely to get approved even with prior credit issues.
How the Net First Platinum Card Works
Even though the Net First card is technically a credit card and payments get reported to at least one credit bureau, it works differently than your typical credit card. The first thing to understand is that you can’t use the card anywhere you want. It’s only for use at the Horizon Outlet, an online store, which is explained on Net First’s site when you apply for the card. The Horizon Outlet has a wide range of products at reasonable prices.Product categories include:
- Clothing, footwear, and accessories for women, men, and kids
- Home items
- Baby items
- Seasonal items
Shopping at the Horizon Outlet is just like shopping at any other e-commerce store. You can look for products by categories and sub-categories or use the search function. When you want to purchase one or more products, you simply add them to your cart and proceed through the checkout process. Although this card offers a revolving line of credit, the annual percentage rate (APR) is always 0 percent.
The card always has a $500 credit limit, and it’s unsecured, which means there’s no security deposit required. When you activate your card, you’re automatically enrolled in the Horizon Card Services monthly membership plan. This plan is required to have the card, and it comes with a monthly fee of $24.95. That monthly fee gets charged to your Platinum card every month. For your minimum monthly payment, you must pay either 10 percent of your account balance or $25, whichever of those two amounts is greater. If you have a balance below $25, then your minimum payment is the entire amount.
Card and Program Benefits
Even though you need to pay a monthly fee for the Horizon Card Services plan, it has several benefits that can come in handy. These include enrollment in:
- My Privacy Protection
- My Universal RX
- My Roadside Protection
- My Legal Assistance
My Privacy Protection helps keep your information safe. My Universal RX allows you to receive a discount of up to 40 percent on prescription medications that are covered by the plan. My Roadside Protection provides you with up to three service calls per 12-month period, with a maximum of one per 30-day period. Service calls can be for lockouts, tire changes with a spare that you provide, up to 2 gallons of fuel delivery that you pay for or towing requests of up to 15 miles.
My Legal Assistance provides phone and internet access to legal resources, although it doesn’t cover cases involving criminal defense. You can have one 30-minute consultation with a legal professional in your area free of charge through this plan.
Applying for the Card
You can apply for this Net First card online through its website, and it’s a fast process that doesn’t require employment verification. There’s also no credit check involved during the application, which is why this is the leading credit card when it comes to no credit pre-approval and bad credit pre-approval.
Is the Card Right for You?
The biggest benefit of the Net First Platinum card is how easy it is to get it. Your credit score won’t matter thanks to the lack of any credit check, and you won’t need to prove employment or income either. The credit limit of $500 is one of the higher amounts for an unsecured credit card, making it easy to keep your credit utilization down. The drawbacks are the monthly membership fee and the fact that you can only use the card for purchases on the Horizon Outlet store. Unless you shop online frequently and that store has quite a few products you want to purchase, you probably won’t be able to make use of this Platinum card over the long term. It can still be a good choice as a card that you keep for a couple of months to use and build your credit before you move on to a card without a monthly fee.