The while "14.2 and under is a pony" is for jumping. Any horse, pony, draft, whatever that is 14.2 or smaller can obtain a Pony Card which puts them in that division. It is a HUGE advantage to have the largest "pony" possible rather than the smallest "horse". A 14.3 horse or pony who is competing in the horse division has a distinct disadvantage over a gigundo, long-legged horse.
Having a pony card doesn't mean the animal is an actual PONY. It just means that it measured 14.2hh or smaller. By this same token an actual PONY can be force to compete as a "horse" because it's 14.3 or larger.
My 14.2 Morgan qualifies for a pony card.... he's definitely a horse, not a pony. The Welsh pony at the barn is 13.2, he also qualifies for a pony card but he IS a pony!!