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Home Trust Secured Visa Card

Home Trust Secured Visa Card

Your best chance to get the credit you deserve - with a minimum deposit of $500!

  • Card Details Details
  • Our Review Review

Card Details


  • Build or re-build your credit, even if you've had credit difficulties in the past, or have never had a credit card before!

  • An excellent opportunity to establish your credit rating

  • Virtually everyone is approved

  • Make purchases over the phone or online

  • Plan and book a vacation

  • Access cash anytime, anywhere from over 1 million ATMs around the world displaying the Visa or Plus logo

  • Shop at over 24 million locations worldwide

  • Choose between a monthly fee of $5 or an annual fee of $59


How does the Secured Visa Credit Card Work?


With a secured credit card, you are given access to credit but you are required to provide a security deposit for eligibility.


How much is the deposit?


The minimum deposit is $500 but you can put down as much as $10,000


How do I send my deposit?


When your application is complete, please mail your security deposit (personal or personal certified cheque, money order or bank draft from a Canadian Financial Institution, payable to "Home Trust Company") to:


Home Trust Company
Attn: Visa Department
145 King St. West, Suite 2300
Toronto, ON
M5H 1J8


Note: We will not accept cash, for your security deposit. Preferred IDs include a current Provincial Driver's License, Canadian Passport or Certificate of Canadian Citizenship. Other acceptable IDs include a Birth Certificate or Social Insurance Card.


Can I get my deposit back?


Yes, if you decide to close your credit card account send the full payment of your credit card balance and your security funds will be returned to you.


If you are not approved, your security deposit will be immediately returned to you.


 

RateSupermarket.ca's Review

A secured visa is good for those who have struggled with credit and who are unable to qualify for most other credit cards, or who have never had a credit card before and are looking to establish and build their credit. Virtually everyone is approved for a secured credit card, since a deposit is required to determine your credit limit.

 

For instance, if you put down $500, your card limit will be $500. You still need to make monthly payments, though - this is how the credit bureau will track your history and how your credit score will be established.

 

When you cancel the credit card, your deposit is returned to you in full, assuming there is no remaining balance on your credit card. As far as secured credit cards go, the Home Trust Secured Visa Card is pretty standard - offering credit limits from as low as $500, and a $14.90% interest rate on purchases. For $59 a year, this is a good option for those looking to improve their credit situation.

Top Features About Home Trust Secured Visa Card

  • Credit limits as low as $500
  • Virtually everyone is approved
  • 14.90% interest rate on purchases
  • A good way to establish, build or improve credit

Pros

  • Credit limits as high as $500
  • Virtually everyone is approved
  • 14.90% interest rate on purchases
  • A good way to establish, build or improve credit

Cons

  • $59 annual fee
  • Deposit required up front

Rate and product information are subject to change at any time and does not constitute financial advice. Please contact supplier for complete details.

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