- $500 credit limit
- No employment or credit check to apply
- Reports activity to major credit bureau
- Fast and easy application
- Late Payment Penalty Fee: $20
- Return Payment Penalty Fee: $25
At a Glance
The Group One Platinum Card is a retail card made for repairing bad credit and is one of the better cards for no credit score at all. It requires no credit check, so you can easily apply no matter what shape your score is in.
Moreover, the lack of APRs and a $750 credit limit makes payments on the card simple and manageable. You can use it to purchase a variety of items through the Horizon Outlet, improve your credit, and access member benefits like legal services and discounts on prescriptions.
Ideal for Those Who:
- Need a card that doesn’t require a credit or employment check
- Have no credit history or need to build up a poor credit score
- Enjoy the convenience of online shopping and don’t mind paying the monthly membership fee
- Can take advantage of the perks offered with the card, such as legal aid and prescription discounts
- Want regular credit reporting to the major credit bureaus
Group One Platinum Card Review
The Group One Platinum isn’t like most retail cards. For one thing, it isn’t a traditional credit card; it’s a line of unsecured credit. Since it is unsecured, no refundable security deposit is required. It also offers tools to help cardholders build up their credit scores, rather than offering cash back and points for loyal customers.
Since it requires no credit or employment check to get one, anyone can take advantage of the 0% interest and membership benefits for a monthly fee. However, there’s a $750 credit limit and the use of the card is limited to the Horizon Outlet online store, which can have its disadvantages depending on your spending needs.
Where Can I Use My Group One Platinum Card?
The first factor worth noting about the Group One Platinum is that it’s only available for use with the Horizon Outlet. This is an online retail shop that offers a wide spread of items, including:
- Home décor
- Small electronics and appliances
- Toys and books
If these items regularly make it into your monthly spending, this can be a helpful card to have. Though it’s not a traditional credit card, the Group One still reports your activity to the major credit bureaus. This allows you to build or improve your bad credit score regardless of your credit history (or lack thereof).
Minimum Monthly Payment
A Group One Platinum card can seem similar to a secured card since it has a strong focus on building credit. Unlike secured credit cards, however, this offer doesn’t require a security deposit to determine your level of credit. This means that once you complete the quick and easy online application, you’ll automatically qualify for the $750 line of credit upon approval.
This card also doesn’t have a high interest rate like secured cards often do. In fact, Group One charges no interest at all, which can help keep your balance under control. All you need to worry about is making a monthly payment to keep your account in good standing.
If you need to carry a balance, the required minimum payment is either 10% of the current balance or $25, whichever is greater. Pay your bill on the due date and you’ll be on your way to repairing or building your credit score.
Automatic Group One Platinum Monthly Membership
When you apply for this card, you’re automatically enrolled in the card’s membership program. So what is a Group One Platinum Card membership? It’s a Horizon Card Services program that provides additional benefits to cardholders. This includes the following services:
- My Legal Assistance provides access to legal resources, including a free 30-minute legal consultation in your area of need (not including criminal cases).
- My Universal RX earns you discounts up to 40% on qualified medications at certain local pharmacies.
- Privacy Protection protects your information while you make purchases with your card in the Horizon Outlet website. You also have access to fraud resolution services.
- My Roadside Protection gives you access to 3 free towing or service requests in a 12–month period. However, you can use no more than 1 request in 30 days, and towing is limited to 15 miles (or $50); you are responsible for any additional costs.
While the Group One Platinum itself has no annual fee, the membership costs $14.95 monthly. This will be automatically debited to your bank account each month – for a total of just under $130 a year. That’s a pretty hefty expense, especially if you don’t take advantage of the membership benefits. On the other hand, if you max-out the roadside assistance benefit ($150 for 3 tows/service calls), you’re already halfway there.
It’s worth noting that if your bank account has insufficient funds, you may be automatically enrolled in a reduced membership. This provides the same benefits listed above, minus the roadside assistance, for only $6.95 a month. (You can opt to re-enroll in the full membership at any time.) Other fees to keep in mind include:
- A $6 monthly maintenance fee if your account is inactive
- $2.00 for residential delivery
- $3.50 for signature verification upon delivery
- Purchase processing fees, which can vary
The Fingerhut Credit Cards Vs. The Group One Platinum Card
Is Fingerhut a Credit Card?
The Group One Card is similar to other card offers for bad credit. Another popular option is the Fingerhut Card. The Fingerhut, like the Group One, is not a Mastercard or Visa, but rather a catalog card.
The Fingerhut FreshStart Card account offers an initial credit limit of $125 – $230 and requires an initial down payment of $30. For that initial deposit, cardholders enjoy access to an online catalog, the Fingerhut catalog (new for 2020), which is much like the Horizon Outlet. Fingerhut credit protections are similar to Group One and Horizon Card security and protection.
Does Fingerhut Build Credit?
Like the Horizon Gold and Group One Platinum, Fingerhut reports to all the major credit bureaus. This means that Fingerhut is a decent option for building credit or establishing a good payment history for the first time.
Unlike the Group One Platinum, however, Fingerhut credit card accounts come with a 29.99% APR on purchases. Group One, on the other hand, features no interest on purchases. Additionally, both the Group One and Horizon Gold Cards come with a $750 unsecured credit line, double that of the Fingerhut Card account.
Both the Horizon Gold and Group One offer better credit limits and lower interest payments than the Fingerhut from WebBank. While the Fingerhut Card has lower fees, for those with bad credit that struggle to get credit cards, the Group One might offer better value.
Should You Apply for the Group One Platinum Card?
The Group One Platinum Card is a great tool for one specific need: credit building and improvement. If you’ve recently been declined for a traditional credit card, this credit line can give you another way to get your score on track. Since you won’t accumulate interest, you can focus on making consistent payments, whether you carry a balance or not.
However, since this isn’t a traditional card, you can’t take advantage of the 0% interest for balance transfers, and the card is exclusive to Horizon Outlet. That means it won’t help much if you’re currently in debt and looking to cut down on costs.
If all you really need is a credit boost, this card can be a valuable asset to your wallet. It’s more straightforward than a traditional credit card might be, yet it still impacts your score. Plus, the catalog has plenty of great items to peruse if you’re looking for a go-to online store.