In the event you or somebody in your life is a radio-controlled (RC) fashions hobbyist, then the no-annual-fee Horizon Passion bank card may pique your curiosity. The cardboard rewards holders for every kind of purchases, together with these made with Horizon Passion, a radio management and mannequin prepare producer and distributor.
However the firm additionally affords a tiered loyalty program, unbiased of its co-branded bank card, that already rewards members for purchasing with Horizon Passion and its companions — and the cardboard itself doesn’t add a lot in the best way of worth or advantages. Rewards will be redeemed solely towards purchases made with the model, and there is no 0% intro APR provide that will help you finance any costly RC merchandise.
Listed here are 5 issues to know in regards to the Horizon Passion Visa Credit score Card.
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The Horizon Passion Visa card is to not be confused with the equally named Horizon Gold card, a separate — and costly — product that is not affiliated with the Horizon Passion model and is geared toward candidates with poor credit score (sometimes, FICO scores of 629 or decrease).
Picture courtesy of Imprint Funds.
1. It affords a preapproval course of
Issued by First Digital Financial institution and managed by the corporate Imprint, the Horizon Passion bank card means that you can submit an software to see if you’re accepted with none impression to your credit score scores.
When you settle for the cardboard provide, although, a laborious credit score verify will likely be carried out, which might briefly ding your scores.
2. It earns factors in Horizon Passion’s loyalty program …
To get the Horizon Passion bank card, you need to be a member of “the RC Membership,” Horizon Passion’s free-to-join buyer loyalty program.
Unbiased of the bank card, RC Membership members earn factors at totally different charges relying on their degree of spending with the model. However holding the bank card will enhance these charges as a result of it earns a flat 5 factors per $1 on all spending, which stacks with the loyalty program’s earnings. Here is the way it works.
The RC Membership program has three ranges: Commonplace, Legend and Elite. If you be part of, you’ll robotically be enrolled within the Commonplace tier. Nevertheless, you’ll must spend not less than $1,500 with Horizon Passion in a yr to have Legend standing, whereas Elite standing will price you a yearly membership payment of $129.99.
The Commonplace tier earns you 5 factors for each $1 spent with the model, Legend standing snags you 15 factors per $1 spent with the model, and Elite standing will get you 20 factors per $1 spent with the model.
So when you have the Horizon Passion Visa Credit score Card in addition to Elite standing, you’ll be able to high out at 25 factors for each $1 you spend with Horizon Passion: 20 factors out of your standing within the loyalty program, plus 5 factors from the bank card.
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RC Membership members additionally get advantages like free transport on eligible orders, reductions on sure gadgets and $5 coupons for writing opinions.
3. … However these factors aren’t price very a lot
A card that provides you 5x again on all purchases with no annual payment? Seems like a unicorn … till you take into account the worth of these factors and the way you need to use them.
You’ll be able to redeem RC Membership factors beginning at 2,000 factors. Each 2,000 factors you earn is the same as $5, so factors are price a paltry 0.0025 of a cent every — woefully in need of the trade commonplace. The finest rewards bank cards have a tendency to supply factors price not less than a full penny every.
On the plus facet, keep in mind that you are incomes factors from two totally different sources right here (the cardboard and the loyalty program). On the lowest program tier, you’d hit the redemption minimal by spending not less than $50 with the cardboard at Horizon Passion.
Nonetheless, there are different resrictions. Like many co-branded retail playing cards, you’ll be able to redeem your factors solely with the model at HorizonHobby.com and at any of the shop’s 13 native redemption companions throughout the nation (as of this writing).
And about that latter choice: In the event you’re redeeming with companions, you need to accomplish that via the Imprint app. However once you redeem factors this manner, their worth — together with the redemption minimal — could fluctuate relying on the retailer.
4. New candidates get a small factors enhance
Along with ongoing rewards, the cardboard affords the next promotion as of this writing: New cardholders can earn 16,000 factors once they make three purchases inside the first 180 days after approval.
You’ll be able to redeem these factors for retailer credit score at Horizon Passion solely. And, once more, due to how little the factors are price, this welcome provide can solely get you $40 in credit score. (With a typical rewards card, 16,000 factors could be price $160.)
5. You’re higher off with a normal cash-back card
Even essentially the most devoted of Horizon Passion customers will discover extra worth in a rewards card that gives money again you’ll be able to redeem towards greater than Horizon Passion purchases.
For instance, the $0-annual-fee Wells Fargo Energetic Money® Card earns an infinite 2% money again on all qualifying purchases. Its cash-back rewards will be redeemed for assertion credit score, as a withdrawal from a Wells Fargo ATM in $20 increments utilizing a Wells Fargo ATM or debit card, as a direct deposit right into a Wells Fargo checking or financial savings account, or as a mailed paper verify.
The cardboard additionally comes with an intro APR promotion, along with the next sign-up bonus: Earn a $200 money rewards bonus after spending $500 in purchases within the first Three months.
