What is the Absolute Gold Card?
Card Details
Monthly Fee : $19.95
Interest Rate : 0%
Minimum Payment : $25 or 15% of balance.
Late Fee : $10
As you can see from the details above, you have to pay some fees to join the Unique Card Services membership shopping portal. You have to pay an upfront fee of $29.95. After that, you have to pay a monthly fee of $19.95. For the fees that you pay, you get benefits like free roadside assistance and opportunities to get discounts from various merchants and services. The interest rate is 0% so you do not actually have to pay interest if you pay over time on your purchases. However, this is offset by the fees you have to pay.
You have to pay a minimum of $25 or 15% of your balance for your minimum payment. For example, if your balance is $50, then you have to pay $25 twice and you will end up paying down the balance in two cycles. If your balance is $200, then you will pay $30 as your minimum payment until the balance is paid off.
Another interesting thing about the card is that Absolute Gold Card will take your monthly payment either from a credit or debit card. So I think that essentially means that those of you who are in the Chex System should be able to get this card as long as you have a debit card.
Competition
| Card | Details |
|---|---|
| Absolute Gold Card |
Monthly Fee=$19.95 Upfront Fee=N.A. APR=0% No Credit Check Reports to 1 Credit Bureau Starting Limit=$500 |
| Net First Platinum |
Monthly Fee=$24.95 Upfront Fee=N.A. APR=0% No Credit Check Reports to 1 Credit Bureau Starting Limit=$500 |
| Freedom Gold Card |
Monthly Fee=$24.95 Upfront Fee=N.A. APR=0% No Credit Check Reports to 1 Credit Bureau Starting Limit=$500 |
| Horizon Gold Card |
Monthly Fee=$24.95 Upfront Fee=N.A. APR=0% No Credit Check Reports to 1 Credit Bureau Starting Limit=$500 |
| Unique Platinum |
Monthly Fee=$19.95 Upfront Fee=N.A. APR=0% No Credit Check Reports to 1 Credit Bureau Starting Limit=$1,000 |
| Fingerhut |
Monthly Fee=$0 Upfront Fee=N.A. APR=See Website* Credit Checks Reports to 3 Major Bureaus Starting Limit=$200-$1,000 |
Pros and Cons
Pros
- No Annual Fee
- 0% APR
- No Credit Checks and Employment Checks
- $500 Starting Credit Limit
- Reports to at least one credit bureau
Cons
- Can only be used at thehorizonoutlet.com
- Monthly Membership Fee
Our Take - Absolute Gold Can Help Start Rebuilding But There Are Better Cards
Credit cards for those of you with really scores are not easy to come by. You should first consider getting a secured credit card. Some of you might not be so lucky and end up getting denied even for a secured credit card and even unsecured credit cards.
For those of you who have been denied a secured credit card, you might just want to consider a catalog card like the Absolute Gold even as a starter rebuilder. You plan should not be to keep this card forever, but instead, you can use this card to jump start your credit score until you can get a better card.
Though there is no annual fee and APR, you still need to pay 25% of any purchase you make. There is a membership fee that you have to pay though it does come with some benefits (which you may or may not find useful). If you have been denied numerous times and do not want another hard pull in your credit report, then perhaps this card might just fit the bill.
