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Home Trust Secured VISA Card credit card reviews

Home Trust Secured VISA Card credit card details and credit card application link.

The Home Trust Secured VISA Card is available to practically anyone, including people with bad or no previous credit history. The company claims that 95 percent of all applicants get approved and have the opportunity to establish a good credit record or improve their current one. As the name suggests, the Home Trust Secured VISA Card is a product that requires that you make a security deposit. You can choose how much to put down, as long as the sum is not less than $500 and does not exceed $10,000. The amount of your deposit determines the credit limit that you will have available. Keep in mind, however, that this financial product is not a prepaid card, i.e. the security deposit will not be used to settle the current debts on the card line; rather, it will be your own responsibility to make the required monthly and/ or annual payments.

Several fees are collected using the card. You can opt to pay either a monthly service fee of $5.00 or an annual fee of $49.00. Home Trust allows you to add authorized user/ co-applicant to an already approved card account at an extra fee of $2.00 per month or $19.00 per year. The over-limit fee is $29.00, and the Not Sufficient Funds fee - $45.00. If you take money from an ATM on the territory of Canada, you will be charged 1 percent of the withdrawn amount, while in the United States and all non-North American countries, this transaction will cost you 1.5 percent.

Home Trust levies interest charges on both, purchases and cash advances at a rate of 19.99 percent. If you pay your balance in full by the statement date, you will incur no interest. However, for every cash advance you make, you will be charged interest at the above rate from the moment you make the advance until it is completely paid off. Payments are due every month, and you will have to settle at least the minimum payment, as specified in the statement.

There are two basic ways to make the due payments: you can either pay in person at any Canadian financial institution endorsing Visa (including the Bank of Montreal), or mail your check/ money order directly to Home Trust.

To apply for the Secured VISA Card, all you have to do is fill out the required application form, which can be downloaded from the company’s website, and send it together with the security deposit and two copies of a valid Canadian ID document to the address of the Home Trust Company in Toronto. Residents of Quebec, non-Canadian citizens and people who are currently in bankruptcy will not be considered likely applicants.

If you prefer to have a secured travel credit card, you can look at the BMO Prepaid Travel MasterCard. The purchase fee stands at $9.95 and is valid for three years, while the product comes with Zero Liability, Purchase Protection, and Extended Warranty. Clients can load their cards from a bank account at many banking institutions. The product is reloadable and prepaid, with one’s limit being the loaded amount. Clients enjoy worldwide acceptance at close to thirty million locations, identity theft assistance, help around the world, cash advances at branches of the Bank of Montreal and ATMs, and MasterCard SecureCode.

Credit Card Details
NameHome Trust Secured VISA Card Apply Now
Interest Rate19.5%
Annual Fee$0
Cash BackNo
Low InterestNo
Auto and GasNo
Instant ApprovalNo
Balance TransferNo
US DollarNo
No Annual FeeYes