Mr Credit Card
The Net First Platinum is a merchandise credit card from Horizon Card Services that is serviced by Reliant Holding. It is a closed loop card and you can only use it at their online store www.myhorizonoutlet.com and pay for purchases over time at 0% APR. Net First Platinum will give you a $750 unsecured credit line and there is no annual or monthly fee that you have to pay. They do not perform any credit checks, income checks and employment checks and all you need to have is to have a debit card to pay for your purchases. Hence approval is almost assured when you apply.
- $0 Fees
- 0% APR
- $750 Credit Limit
- No Credit Checks, Employment Checks or Income Checks
- Guaranteed approval as long as you have a debit card
Card Details
| Annual Fee | $0 |
| Monthly Fee | $0/month |
| Regular APR | 0% |
| Minimum Payment | $25 or 15% of Balance |
Here are the key details of the Net First Platinum.
Can only be used at www.thehorizonoutlet.com
The Net First Platinum is a closed loop merchandise credit card and you can only use it at Horizon Card Service online store www.thehorizonoutlet.com. Hence it is neither a Visa or Mastercard. They sells a variety of goods including electronics, apparel, jewelry, beauty products etc. Below is a screenshot of their online store.
No Annual or Monthly Fee
The Net First Platinum does not charge any activation fee, annual fee or monthly. This is actually a change from the past where they do charge a monthly fee. I will explain why they have stopped charging monthly fees in a bit.
0% APR on purchases
When you make a purchase from The Horizon Outlet, you can choose to pay over time at 0% APR. This is arguably the most attractive feature of Net First Platinum because they are very few store credit cards that offer 0% APR financing.
But they do NOT report to any credit bureau
Net First Platinum does not report to any credit bureau so this will not help you in building or rebuilding your credit. They used to report to one major credit bureau (Equifax) but since September 2022, they have stopped reporting.
Optional Membership Plan
- Free roadside assistance - You will get Roadside Assistance with the following benefits and terms. Members are eligible to receive up to 1 service call or towing request every 30 days and no more than 3 within a twelve-month period.
- My Legal Assistance - You will get a Free 30 minute consultation with legal professional in your area (it does not include criminal defense).
- Identity IQ - You can get a free credit report with this program (and you can access it any time) and also get $1,000,000 in identity theft protection.
- My Universal RX - With this plan, you can receive up to 50% discount on prescription drugs.
Paying for your Purchases
Net First Platinum requires you to pay a minimum of either $25 or 15% of your balance. Hence, if you purchase a product that cost less than $25, you would have to pay in full. For example, if you bought something for $100, you would have to pay $25 first (after paying for your shipping and delivery fee). Your balance will be $75 by the next billing cycle and statement. You would have to pay 15% X $75 = $11.25. This continues until your balance is paid off.
History of Fee Changes over time
24.95/monthly fee, $500 Credit Limit and reported to Equifax - Original Version
Originally, the Net First Platinum provided a $500 starting credit limit and charged a $24.95 monthly fee. You also got benefits like roadside assistance, Universal RX prescription discounts, Prepaid Legal Advice and Credit Hawk (which is a credit monitoring tool). The original version also reported to TransUnion and later they changed and reported to Equifax.$14.77/monthly fee with $750 Credit Limit but NO credit bureau reporting version
From September 2022 onwards, Net First Platinum increased their credit limit from $500 to $750. They also reduced their monthly fee from $24.95/month to $14.77/month. This reduction in monthly fee and increase in initial credit limit was a very good thing. However, they stopped reporting to credit bureaus. Hence, this card ceased being helpful for those looking for an unsecured credit line to rebuild their credit. You do still however get the benefits of roadside assistance, Universal RX, Prepaid Legal Service and Credit Hawk.NEW VERSION - No monthly fee, credit limit still $750 and no credit bureau reporting
The latest iteration of the Net First Platinum has no monthly fee. Yes, that's right. There is no monthly fee and you do not get the automatic benefit of services like roadside assistance, prepaid legal service, identity IQ and Universal RX. But you can subscribe to these service separately or in a bundle from The Horizon Outlet once you are approved for the Net First Platinum.Consumer Financial Protection Bureau Actions and Lawsuit
Regulation Z requires that credit card issuers do not charge more than 25% of the credit limit if fees. Net First Platinum original version with the $500 credit limit had a monthly fee of $24.95, which worked to $299.40 annually. This was $299.4/$500 = 59.88% of the initial credit limit of $500, which was clearly a violation of regulation Z. They have since lowered their fee once and now have totally eliminated them altogether.
Competition - And there some interesting ones
| Card | Monthyly Fees | Annual Fee Fee | Credit Reporting | Credit Lines |
|---|---|---|---|---|
| Net First Platinum | $0 | $0 | N.A. | $750*usable only at theHorizonOutlet.com |
| Merit Platinum | $0 | $0 | N.A. | $750*usable only at theHorizonOutlet.com |
| Buy On Trust | $0 | $0 | 3 Credit Bureaus | Up to $5,000 |
| Extra Prepaid Card | $7 | $0 | Equifax and Experian | N.A. |
| Pulse Platinum | $0 | $0 | N.A | $500 |
| Now Platinum | $0 | $0 | N.A. | $500 |
| Vast Platinum | $0 | $0 | N.A. | $500 |
| Sezzle | $0 | $0 | 3 Credit Bureau | Up to $2,500 |
| Arro Mastercard | $3 | $0 | 3 Credit Bureaus | $50 - $2,500 |
Net First Platinum and other cards from Horizon Card Services
Net First Platinum is just one of the cards from Horizon Card Services. The other cards include Freedom Gold Card, Group One Platinum Card, Boost Platinum, Merit Platinum and Focus Gold Card. All these cards have the same features and same fees as Net First Platinum. They have all recently eliminated their monthly fees.Compared to credit cards from Unique Card Services
Unique Card Services is a very similar competitor to Net First Platinum and Horizon Card Services. Like Net First Platinum, Unique Card Services have their own online store www.myuniqueoutlet.com. Credit Card from Unique Card Services used to charge a $19.95 monthly fee, give a starting credit limit of $1,000, have 0% APR and report to one credit bureau (TransUnion). Then like Horizon Card Services, they stopped reporting to credi bureaus and recently eliminated their monthly fee, reduced their credit limit to $500. Unlike Horizon Card Services, they give card holders a choice to enroll in their paid $19.95 a month membership plan to get benefits like roadside assistance and RX prescription plans. Aside from having different starting credit limits and different online stores, Unique Card Services require you to pay a minimum of 25% of your balance or $25. In contrast, Net First Platinum only requires you to pay a minimum of either $25 or 15% of your balance.Credit cards from Unique Card Services include Vast Platinum and Now Platinum.
Stiff Competition from Buy Now Pay Later Apps
Perhaps the stiffest competition the Net First Platinum face is from modern Buy Now Pay Later (BNPL) apps like Klarna, Affirm and Afterpay. These BNPL apps are easy to get (very often no credit checks), have 0% APR and are similar to Net First Platinum in these aspects. But they different in that these apps have partnered with lots of branded retailers where you can use the apps either in-store or online. The payment schemes are also different in that most modern BNPL apps have a standard pay-in-4 payment plan whereby you pay 25% down payment and every 2 weeks until you make 4 payments in 6 weeks.Most BNPL apps do not report to credit bureaus but some like Sezzle reports to all three major credit bureaus and is much better than the Net First Platinum.
Compared to NO credit check unsecured credit cards
One of the key features of the Net First Platinum is that there is no credit checks, income or employment checks. Though regular unsecured credit cards that do not rely on FICO scores for approval are rare, there is one called the Arro Mastercard, which does not rely on FICO scores. But they do require a monthly income of at least $1,000 and a positive bank balance of $50. The monthly fee is only $3 and you can get a credit limit of up to $2,500. It also reports to all three major credit bureaus. If rebuilding your credit is a priority and you want to get a no credit check and low cost card, then the Arro Card is much better than Net First Platinum.What We Like About Net First Platinum: High Starting Credit Lines, Report to Equifax, No Hard Inquires
- 0% APR On Purchases - As Net First Platinum works like a "buy now pay later store", you will not be charged any interest rate on your purchases. However, as mentioned earlier, you will have to pay a minimum payment that is the greater of either 10% of the purchase price or $25. But you will not accrue interest over time so that is a good thing compared to making a purchase on a credit card and carrying a balance.
- Unsecured $750 Starting Credit Limit - When you are approved for the card, you will be given at least $750 credit line that is unsecured. However, from consumer feedback, it appears you can get up to $1,500 in starting credit lines. $750 to $1,500 is a much higher starting credit line than most subprime credit cards.
- No Credit Checks or Employment Check- Guaranteed Approval - Net First Platinum does not check your credit report or your income. That means that you will not experience a hard pull. You do need a debit card or a checking account to pay your membership fees. As long as you have a debit card, you will be approved.
What We Don't Like About Net First Platinum - Only Be Used At TheHorizonOutlet.com
- Can Only Be Used At thehorizonoutlet.com - You can only use this card at Horizon's online store www.thehorizonoutlet.com. This is not a regular Visa or Mastercard so you cannot use this card anywhere else.
- Does not report to credit bureau - As of 25th January 2022, Net First Platinum (in fact all Horizon Card Services credit cards) have stopped reporting to any credit bureaus.
Net First Platinum - No Fee, Good Credit Limit but no credit reporting
Having said that, the Net First Platinum is not a Visa or Mastercard and you can only use it at The Horizon Outlet. The products there are mostly unbranded and limited and in fact, most card holders did not even shop there after getting the card. Net First Platinum also does not report to any credit bureaus and so you cannot rebuilding your credit with this card even though it is attractive from a fee and credit limit point of view.
To sum up, based on our evaluations and review of the Net First Platinum, we give it a 3 star out of 5 for having no fees, a generous credit line of $750, absence of credit, income or employments checks and 0% APR financing on your purchases. Their limitation of only allowing you to shop at their one and only online store and they fact that they do not report to any credit bureaus prevents us from giving it a higher rating.
While Net First Platinum has it's customer base, the fact is that they have been overtaken by new Buy Now Pay Later apps which offer customers 0% APR financing but also the option to do so at thousands of retail store partners both in-store and online. Furthermore, some like Sezzle also report to all three major credit bureaus. There are also no credit check unsecured credit cards like Arro that is a Mastercard and allow you to use it almost anywhere. Hence, I would not recommend the Net First Platinum both as a merchandise card and a credit builder. You would be better off with our other recommendations.
Customer Reviews
I got the Net First Platinum thinking it was a regular credit card. Got $750 credit limit and $14.77 monthly fee. Turns out that I can only shop at their online store thehorizonoutlet.com. Products were few and far between, all unbranded cheap looking stuff. Then found out they did not report to credit bureaus. So I called and cancelled. They sure tried hard to persuade me but I stood firm. Don't be deceived, this is not a real credit card. You are better off getting a Buy Now Pay Later app and using it than something like this.
Net First Platinum used to report to Equifax but I noticed that they have stopped. I called them but rep had no clue what I was asking. But I called back again after a month and rep told me that they no longer reported. So I cancelled my card on the spot. They tried to increase my limit and reduce my fee but since they do not report to any credit bureau at all, then it is basically a useless card.
I have a Net First Platinum and I have gotten my limit up to $2000.
There are a lot of negative comments about Horizon Card Services. But I have the Net First Platinum and here are my thoughts about this. Yes, the fees are high. But they do report to Equifax. I have not and do not intend to buy anything from their online store. But my credit improves enough where I can get a low fee Visa or Mastercard, then I will cancel this card.
I applied for Net First Platinum and got approved for $500 limit and had to pay a $24/month fee. After 2 months, I noticed that the card did report to Equifax but $24/month was really expensive and not worth it. So I called to cancel but the rep reduced my monthly fee to $6 intead and also increased by limit to $1,000. So I decided to keep my card and will probably cancel it when I get a few other better cards.
I wanted to cancel the Net First Platinum but the reps just keep trying to persuade you not to. First they offered to increase by credit limit by $500. I said no. Then they reduced my monthly payment to $6 but I had to forgo the roadside assistance. So I said ok.
I signed up for the card and got what I guess was the standard $500 credit limit with the $24/month fee. I had buyers remorse and called to cancel. Long and short story, rep persuaded me to keep the card open by increasing my credit limit to $1,000 and putting an auto increase of $500 every 3 months until it hits the max of $3,000. I did eventually hit the max and so am still paying the $24/month fee but will probably cancel soon.
Someone fraudulently signed me up for Horizon Card Services under my name> I called Horizon to ask them to cancel my account and refund me. They asked me to provide all sorts of ID and address verifications but I did not hear from them for a few weeks. So I complained to BBB and they immediately reached out and refunded me all the monthly fees that were taken out of my account. I was surprised to see so many complaints like mine on BBB.
FREQUENTLY ASKED QUESTIONS
Customer Service Information
P.O. Box 1275
Indiana, PA 15701
Customer Advocacy
1-800-837-49975 days a week from 8:30 a.m. until 9:00 p.m
Cancel Membership
1-800-251-6144Monday through Friday from 8:30 a.m. to 9:00 p.m. EST, and Saturday from 9 a.m. to 4 p.m. EST (excluding holidays)
Or online at www.memberbenefitaccess.com.
Application Page
On the next page, you will have to fill in your name, address, phone number, monthly pay, how often you are paid, your next pay date, your credit score range and whether you receive direct deposit. Once you submit this information, you will get the offer and confirmation. You will be instantly approved (within 60 seconds) once you submit your online application.
