Home Trust began their operations in 1977 with the objective of helping Canadians achieve their financial goals. Over the last 40 years, the organization became a leading financial services company in Canada. Today, Home Trust continues to help Canadians fulfill their financial objectives, regardless of their unique circumstances.
One of the predominant products Home Trust offers their customers is Visa credit cards. Each Home Trust credit card caters to a specific purpose, including everyday spending, revolving credit for larger scale purchases and credit building. This review covers the features of each credit card as well as the benefits and drawbacks to banking with Home Trust.
Types of Home Trust credit cards available
Home Trust is a medium sized financial services company. For this reason, they only offer three different types of Visa credit cards. Each Home Trust Visa has a unique purpose which you can learn more about below.
Home Trust Preferred Visa Card
The Home Trust Preferred Visa Card is an ideal choice for everyday spending needs. Check out the features of this Home Trust Visa credit card below.
No foreign exchange fees. A fee to pay in another currency other than Canadian dollars does not apply. Note that the conversion rate to Canadian dollars still applies.
No annual fee. There is no annual fee for this card.
Cash back rewards. Earn 1% cash back on all eligible purchases to get more out of your everyday spending. There is no cap on annual cash back earnings.
Visa Zero Liability. Take advantage of Visa Zero Liability which protects cardholders against fraudulent activity and transactions.
Emergency services. Help in emergency situations is available 24 hours a day, 7 days a week, anywhere in the world. Home Trust can assist with an emergency cash advance and provide help if your credit card is lost or stolen.
Home Trust Equityline Visa Card
This Home Trust visa is optimal for homeowners who require access to revolving debt, especially for large scale expenses. Check out the features of the Home Trust Equityline Visa Card below.
High credit limit. The Equityline Visa is secured by equity in your home. You can obtain a credit limit between $20,000 and $1,000,000, depending on your home equity.
Low interest rate. The interest rate for this credit card between 9.99% and 15.99%. The rate the cardholder receives depends on the applicant’s credit score and report.
No foreign exchange fees. A fee to pay in another currency other than Canadian dollars does not apply. Note that the conversion rate to Canadian dollars still applies.
No annual fee. There is no annual fee for this card.
Hybrid financial product. Even though the Equityline Visa is a credit card, it has line of credit features. It has flexible borrowing and repayment terms, higher credit limits and is revolving debt.
Use to consolidate debt. Home Trust offers the option to consolidate debt with this financial product.
Visa Zero Liability. Take advantage of Visa Zero Liability which protects cardholders against fraudulent activity and transactions.
Emergency services. Help in emergency situations is available 24 hours a day, 7 days a week, anywhere in the world. Home Trust can assist with an emergency cash advance and provide help if your credit card is lost or stolen.
Home Trust Secured Visa
This Home Trust secured credit card allows individuals to build or rebuild credit. Check out the features of this Home Trust Visa card below.
Credit building product. If you don’t have a credit history or have poor credit, this credit card will help you build credit. Cardholders must pay a deposit to secure the credit card. This is how Home Trust protects themselves from risky borrowers.
Set your credit limit. Your credit limit is the amount of money you put towards the deposit. The minimum amount is $500 and the maximum amount is $10,000.
No limitations. Even though this is a credit building product, this credit card behaves the way any other credit card would. You can use it to pay bills, shop online and make purchases in stores.
Interest rate choice. ($5 per month) or 19.99% with no annual fee.
Compare other credit cards
The benefits of banking with Home Trust
Purchase security. Eligible items purchased with your Home Trust Visa are insured against theft and damage for up to 90 days from the date of purchase.
Online portal. Home Trust has an online portal which allows their clients to access balances, account information, transaction history and statements at any time.
Widely accepted. Visa is a widely accepted form of payment across the world. It is secure, reliable and accepted in over 200 countries and territories.
The drawbacks of banking with Home Trust
No app available. Unfortunately, Home Trust doesn’t offer a mobile app. However, for some users, this might not be an issue.
To apply for a Home Trust Visa credit card, follow these steps:
Go to Home Trust‘s website.
At the top right, click Menu. Under Credit Cards, select Overview.
Under the credit card you would like to apply for, click Apply now.
Complete the online application.
Eligibility requirements
Be a permanent Canadian resident but not a resident of Quebec
Be the age of majority in your province or territory
Are not in the process of bankruptcy
Earn at least $15,000 in annual income
Information you’ll need for your application
Full name
Date of birth
Contact information including your email and phone number
Home Trust credit cards FAQs
You can call Home Trust in emergency situations at 1-800-847-2911. The international phone line is 1-800-847-2113.
No, none of the Home Trust Visa credit card products are available to residents of Quebec. The product is available in all other Canadian provinces and territories.
A prepaid credit card does not build credit, needs to be reloaded once the balance is depleted and is not widely accepted like a Visa credit card. On the other hand, the Home Trust Secured Visa does build credit, your spending limit is based on your deposit and it is widely accepted.
Yes, you can complete your application online. In addition, nearly all banking can be completed online through Home Trust's portal.
Veronica Ott was a writer at Finder. She's written for numerous finance and business websites including Loans Canada, Borrowell and Fresh Start Finance. She previously worked as a professional chartered accountant in the private equity and advertising industries.
Apply for a secured card with this reputable provider to start rebuilding your credit.
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