Home Trust Visa
No annual fee, no foreign exchange fees, and earn 1% cash back on purchases. High limits offered, and flexible secured options available.
Introduction to the Home Trust Visa Offer
The Home Trust Visa comes in various forms, including Preferred, Equityline, and Secured cards. The Preferred Visa offers 1% cash back, no annual fee, and no foreign exchange fees.
Interest rates for these cards are competitive: the Preferred Visa charges 21.99%, the Equityline has variable rates, and the Secured Visa ranges between 14.90% and 19.99% depending on your choice.
Credit limits can be high, especially with the Equityline and Secured Visa, which allows you to set your own limit up to $10,000 based on your deposit.
The cards come with standard Visa benefits like Zero Liability protection and Purchase Security Insurance, which add reassurance for Canadian consumers.
Options for people building or repairing credit are available, making the Secured Visa popular among new Canadians or those with limited credit history.
Step-by-Step: How to Apply
First, choose the card that matches your needs—Preferred, Equityline, or Secured Visa. Prepare your personal and financial information.
Visit the Home Trust website and locate the credit card application page to start your application process online.
Complete the form with your details, including employment, income, and your selected credit limit if applying for the Secured Visa.
For the Secured Visa, arrange your security deposit, which determines your credit limit between $500 and $10,000.
Submit your application and await approval. Most applicants will receive a response and further instructions within a few days.
Main Advantages of Home Trust Visa
The no annual fee and no foreign exchange fees are especially appealing for frequent travellers or those who shop online internationally.
With 1% cash back on all eligible purchases, you can easily earn rewards without worrying about caps or complex categories.
The Secured Visa allows those who need to rebuild or establish credit to take control by depositing funds and setting their credit limit.
Visa Zero Liability and Purchase Security provide an important safety net against fraud or theft, adding to peace of mind.
Multiple options mean there is likely a Home Trust Visa card that fits your financial goals and daily spending habits.
Potential Drawbacks to Consider
The Preferred Visa’s interest rate of 21.99% can be high if you carry a balance, so it’s best for those who pay in full monthly.
The Secured Visa offers a lower interest rate option, but it comes with a $59 annual fee if you want the 14.90% rate.
Equityline Visa requires home equity and has variable interest depending on your collateral and credit history, which may not suit everyone.
Cash back rewards exclude certain transactions, including cash advances and foreign purchases, limiting reward opportunities in those cases.
New applicants must meet age of majority requirements and cannot be currently in bankruptcy, so approval is not guaranteed.
Verdict: Is the Home Trust Visa Right for You?
Overall, Home Trust Visa cards offer solid value given the lack of annual fee, competitive rewards, and flexibility across several options. Frequent travellers benefit most from no foreign exchange charges.
Those rebuilding credit should prefer the Secured Visa, while established consumers may like the Preferred or Equityline Visa. Consider your usage patterns and whether you pay your balance in full when deciding.
