5 Home Trust Secured Visa Card Alternatives

The Home Trust Secured Visa is a secured credit card with a competitive interest rate, no annual fee, and the potential to help you build credit. It’s well worth a look if you want to get your credit back on track, but there are several other options available too. Keep reading to compare five alternatives to the Home Trust Secured Visa credit card and find the option that suits your needs.

Costs	Loan Amount	Loan Term
KOHO
Finder Rewards Exclusive KOHO Cover	0% + monthly fee from $2	$20 - $250	Flexible	ENDS SOON! $75 DIGITAL VISA CARD REWARD 1 Join Finder 2 Open & fund a KOHO account 3 Get a digital Visa card from Finder on or before June 16 Ends by. T&Cs apply.	Go to siteView details Compare product selection Compare	loading	Why we like it Unlike the Home Trust Secured Visa, KOHO is not a secured credit card. But with its Cover product, it provides interest-free cash advances of up to $250 to help you cover unexpected costs and avoid bank overdraft fees. You can apply without a credit check, and KOHO doesn't have any minimum income requirements either. You also get the flexibility to repay your advance at any time, so KOHO Cover is worth checking out if you need a little extra cash to see you through to your next payday. Pros & cons Pros Apply in a matter of minutes No credit checks Instant access to funds No interest charges to worry about No NSF fees Cons Monthly KOHO plan fee (can be waived) KOHO Cover subscription fee Won't help you build credit $250 may not be enough for your needs
Nyble
Nyble Credit Line	0%	$30 - $250	31 days, extendable	Use code CFIND1J to get 500 extra points and a $5 higher approval. T&Cs apply.	Go to siteView details Compare product selection Compare	loading	Why we like it Just like the Home Trust Secured Visa, Nyble can also help you build credit. This Canadian fintech offers interest-free credit lines of up to $250. There's no credit check and you can apply online in five minutes, while instant funding is available if you're willing to pay a monthly subscription fee. And because Nyble reports your payments to the credit bureau, making on-time payments to repay the money you borrow could help improve your credit score. Pros & cons Pros Helps you build credit No credit checks No interest charges Sign up in minutes Also lets you track your credit score 4.8/5 stars based on 8,600+ Trustpilot reviews Cons Late payments could hurt your credit score $11.99 monthly fee for instant funding and other perks Funding with a free account takes up to three business days $250 may not be enough for your needs
Bree
Bree Early Pay	0%	$20 - $750	Next pay cycle	Refer a friend and get a $20 credit limit increase on your next withdrawal. T&Cs apply.	Go to siteView details Compare product selection Compare	loading	Why we like it It's not a secured credit card like the Home Trust Secured Visa, but Bree does offer a handy solution if you need some extra cash to avoid bank account overdraft fees. It provides 0% interest cash advances of up to $750, and you won't need to pass a credit check to qualify for funding. Instant funding is available for a fee, while free funding takes up to three business days. Pros & cons Pros Apply online with no credit checks Get a decision in minutes 0% interest and no late fees Instant funding available 4.8/5 based on 7,300+ Trustpilot reviews Cons Won't help you build credit $750 maximum loan amount $2.99 monthly fee plus a transfer fee if you want instant access to funds

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Welcome Offer	Rewards	Annual Fee
Neo Secured Mastercard
Neo Secured Mastercard	N/A	Average of 5% cash back	$95.88	Go to siteView details Compare product selection Compare	loading	Why we like it If you're looking for a secured credit card, the Secured Neo Mastercard is a direct competitor to the Home Trust Secured Visa. The Neo card offers a credit limit of up to $10,000, and you won't need to meet an income requirement to apply for your own card. You can use your card wherever Mastercard is accepted, plus earn 1% on gas and grocery purchases as well as take advantage of special offers at over 10,000 partner retailers across the country. And because Neo reports your account activity to the credit bureaus, you can use this card to help build credit. Pros & cons Pros Earn cashback rewards Highly rated mobile app Rebuild your credit Get an instant virtual card Cons $7.99 monthly fee (waivable) Purchase interest rate could be up to 19.99%-29.99% Monthly spend limit applies to cashback
Capital One Guaranteed Secured Mastercard
Capital One Guaranteed Secured Mastercard	N/A	N/A	$0	View details Compare product selection Compare	loading	Why we like it The Capital One Guaranteed Secured Mastercard is another direct competitor with plenty of similarities to the Home Trust Secured Visa credit card. This no-annual-fee credit card comes with guaranteed approval, provided you meet a few basic criteria (like being the age of majority and not being prohibited from accessing credit due to legal or regulatory reasons). The card also offers benefits like purchase protection and travel accident insurance, and because Capital One reports your account activity to the credit bureaus, this card can help you improve your credit score. Pros & cons Pros Get pre-approved online without hurting your credit score No annual fee Use your card to rebuild credit Offers several types of insurance protection Plenty of positive customer reviews Cons Other cards have higher limits No cashback rewards 29.9% (21.9% in Quebec) interest rate

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How does the Home Trust Secured Visa compare?

With a Home Trust Secured Visa, your credit limit is determined by the amount you provide as a security deposit—anywhere from $500 to $10,000. Once your card has been issued, you can use it anywhere Visa is accepted. You can also add it to your Apple Pay, Google Pay or Samsung Pay digital wallet.

In standard form, the card has no annual fee and charges interest at 19.99%. But if you’d prefer a lower rate, you can choose to pay a $59 annual fee and get an interest rate of 14.9%.

Each month, Home Trust reports your account and payment activity to the Equifax and TransUnion credit bureaus. So if you make on-time payments and attempt to use less than 30% of your available credit, you can build credit.

Which is easier to apply for: secured credit cards or cash advance apps?

Cash advance apps offer a faster and easier application process. You can apply online or via a mobile app by providing your personal information and contact details, and typically linking your bank account. And if you’re happy to pay a fee, you can get instant access to a cash advance.

You’ll need to provide similar information to apply for a secured credit card, but you’ll also need to provide a security deposit and submit to a credit check. The time it takes for your application to be processed and your card mailed out to you could be as much as 15 business days.

How much can I borrow?

With a secured credit card, your credit limit is set based on the amount of your security deposit. The Home Trust Secured Visa credit card offers a maximum credit limit of $10,000, as does the Secured Neo Mastercard, while the Capital One Guaranteed Secured Mastercard offers a maximum limit of $2,500.

Cash advance apps have smaller maximum loan amounts. You can borrow up to $750 with Bree, or up to $250 with Nyble and KOHO Cover.

Which costs more?

Cash advance apps are generally a more affordable option than secured credit cards. They don’t require you to provide a security deposit, and if you don’t mind waiting up to three business days to get your funds, they have low or no fees. However, you may need to pay a monthly subscription fee of roughly $2 – $12 if you want an instant transfer.

With a secured credit card, you’ll need to provide an upfront deposit to set your credit limit. You’ll usually be charged interest ranging from 19.99% to 29.99% on purchases, but you can avoid interest charges by paying your card’s balance off in full during the interest-free grace period. And while you can get the Home Trust Secured Visa with no annual fee, some cards have annual fees of close to $100.

Which provides more flexible repayments?

Cash advance apps offer more flexible repayments than secured credit cards. Depending on the app you choose, you may be able to repay your advance at any time or roll over your repayment to your next pay cycle.

With a secured credit card, you’ll need to make at least the minimum monthly payment to ensure that your credit score doesn’t take a hit. And if you want to avoid being charged interest on your purchases, you’ll need to pay them off during your card’s interest-free grace period.

Is it faster to borrow from a secured credit card or cash advance app?

It’s faster to borrow from a cash advance app. These apps offer instant access to funds, typically by e-Transfer, but usually for an additional fee. If you don’t want to pay this fee, it can take up to three business days to get funded.

Meanwhile, if you apply for a secured credit card, you’ll need to wait for your application to be processed and your card mailed out to you. This means it could take anywhere from 2 to 15 business days to get your card, though some providers offer virtual cards so that you don’t have to receive your physical card before you can start spending.

Can I rebuild my credit?

Yes, you can. A secured credit card is one of several simple but legit steps you can take to improve your credit. By taking care not to utilize too much of your credit limit, and by always making on-time payments, you can improve your credit score.

Other ways you can rebuild your credit include:

• Paying down any other debts you have.
• Paying your rent, mortgage and utility bills on time.
• Disputing any inaccurate information in your credit report.
• Avoiding making multiple applications for credit in a short period of time.

Bottom line

From other secured credit cards to cash advance apps, there are several options available if you’re searching for alternatives to the Home Trust Secured Visa credit card. Whether you need a small loan or you want to rebuild your credit, compare a range of options to find the best fit for your financial situation.

Frequently asked questions

• What is the credit limit for the Home Trust Secured Visa?

  The credit limit for the Home Trust Secured Visa is the same as the amount you deposit as security funds. You can deposit anywhere from $500 to $10,000.

• Does Home Trust report to the credit bureau?

  Yes. Home Trust reports the activity on your Home Trust Secured Visa account to Equifax and TransUnion, Canada's two main credit bureaus.

• What do Home Trust Secured Visa reviews say?

  Customer feedback for the Home Trust Secured Visa is mixed. People who leave positive reviews mention factors such as being able to get approved for a credit card with less than perfect credit, and the fact that this card is useful if you need to rebuild your credit. Negative reviewers mention issues such as no card perks and poor customer service.

To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.

Written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

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