Home Trust is a Canadian financial company offering access to credit cards, mortgages, and other lending products.
Its Visa credit cards include a secured credit card for building credit and a no-foreign exchange fee card with cash back rewards.
Read on to learn about Home Trust Visa credit cards, their benefits, downsides, and alternatives.
Home Trust Visa Cards Overview
Home Trust has four Visa cards you can choose from:
- Home Trust Secured Visa (regular)
- Home Trust Secured Visa (low-rate)
- Home Trust Preferred Visa
- Home Trust Equityline Visa
1. Home Trust Secured Visa
Home Trust Secured Visa
Good credit card for bad credit
Annual fee: $0 or pay $59 for a lower interest rate
Rewards: None
Interest rates: 19.99% for purchases or 14.90% if you pay an annual fee.
Minimum income requirement: None
Recommended credit score:
None
On Home Trust’s website
The Home Trust Secured Visa Card is helpful for building or rebuilding credit.
If you have no credit history or are a newcomer to Canada, you can be approved for this card.
It is available in two formats, a no-annual-fee card with a 19.99% purchase APR, or you pay $59 monthly and get a lower 14.90% interest rate.
Since this is a secured credit card, you must provide a security deposit that’s equivalent to your credit limit, anywhere from $500 to $10,000. This security deposit is refunded when you close your account in good standing.
Home Trust reports your credit card file to the credit bureaus monthly, which allows you to build your credit score.
The Home Trust Secured Visa Card does not offer cash back rewards or insurance coverage. Learn more in our detailed review.
- Annual fee: $0 or $59.
- Cash back: 0%.
2. Home Trust Preferred Visa Card
Home Trust Preferred Visa
Good entry-level credit card
Annual fee: $0
Rewards: 1% cash back on eligible purchases.
Welcome offer: N/A
Interest rates: 19.99% for purchases and 19.99% for cash advances
Minimum income requirement: $15,000
Recommended credit score:
Fair to Good
On Home Trust’s website
If you are looking for a cash back credit card that waives foreign exchange fees, the Home Trust Preferred Visa may be worth checking out.
This card offers 1% cash back on purchases and includes standard purchase security.
Interest is 21.99% for purchases and cash advances. Learn more about the card here.
- Annual fee: $0.
- Cash back rate: 1%.
3. Home Trust Equityline Visa Card
The Home Trust Equityline Visa card gives users access to their home equity via revolving credit ranging from $20,000 to $1,000,000.
Interest is from 7.99% to 14.99%, and funds can be used for home renovations, debt consolidation, and more.
This card also waives foreign exchange fees when you shop abroad.
- Annual fee: $0
- Cash back rate: 0%
Best Home Trust Visa Cards Compared
| Annual fee | Cash back rate | Perks | Interest rate | |
| Home Trust Secured Visa | $0 or $59 | 0% | Easy to qualify for regardless of credit | 14.90% or 19.99% |
| Home Trust Preferred Visa | $0 | 1% | Purchase security, no FX fees | 21.99% |
| Home Trust Equityline Visa | $0 | 0% | Purchase security, no FX fees | 7.99% – 14.99% |
Home Trust Visa Card Benefits
If you need a no-annual-fee credit card, Home Trust offers three you can choose from.
For spending abroad, the Home Trust Preferred Visa saves you the 2.50% foreign exchange fee that is tacked on by most cards.
Lastly, you can easily qualify for Home Trust’s secured card and use it to improve your credit score.
Home Trust Visa Card Downsides
Home Trust Visa credit cards are not available in Quebec. Here are excellent Quebec credit card options.
Applying for these cards is a lengthy process that can take up to 3 weeks before you get the physical card.
Lastly, the Home Trust Secured Visa Card lacks basic insurance coverage, like purchase security.
Home Trust Visa Card Alternatives
If you need a no-annual-fee cash back credit card, the Tangerine World Mastercard is a solid alternative to the Home Trust Preferred Visa.
This credit card pays up to 2% cash back on your purchases and comes with solid perks like airport lounge access membership, free Boingo Wi-Fi, car rental insurance, purchase protection, and extended warranty coverage.
It requires a minimum credit score of 600 and a $60,000 personal income.
If you don’t meet the minimum income requirement, you can opt for the Tangerine Money-Back Credit Card and enjoy a similar cash back rate.
Tangerine World Mastercard
Excellent no-fee cash back card with travel perks
Annual fee: $0
Rewards: Earn up to 2% unlimited cash back in 2-3 spending categories and 0.50% on all other purchases.
Welcome offer: na
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Minimum income requirement: $12,000
Recommended credit score:
Fair to Good
On Tangerine’s website
For a secured card alternative to the Home Trust Secured Visa, look no further than the Neo Secured Card.
It has a low minimum security deposit of $50, offers guaranteed approval, and cash back earn rates of up to 5% at partner retailers.
This card also has no annual fees.
If you tend to carry a balance from month to month, you should note that the interest charges are high on this card.
Neo Secured Credit
Best secured credit card for bad credit
Annual fee: $60
Rewards: Earn up to 5% cash back at partner stores.
Welcome offer: $25 bonus
Interest rates: 19.99%-22.99% for purchases, 22.99%-28.99% for cash advances.
Minimum income requirement: None
Recommended credit score:
None
On Neo Financial’s website
And for a card that combines cash back rewards with zero FX fees, try the KOHO Premium Prepaid Mastercard.
It pays 2% cash back on groceries, gas, and transit; and 0.5% cash back on all other purchases. When shopping at partner stores, the cash back rate is as high as 5%.
KOHO Extra Prepaid Mastercard
Premium prepaid card in Canada
Annual fee: $12/month or $144/year
Rewards: Earn 1.5% cashback on 3 spending categories, and earn 0.5% cash back on other purchases. Up to 5% cash back at partner retailers. Get paid 3% interest on your balance.
Welcome offer: $20 welcome bonus when you sign up using the CASHBACK promo code and make your first purchase.
Interest rates: 0%
Minimum income requirement: None
Recommended credit score:
None
On KOHO’s website
Frequently Asked Questions
Home Trust is a subsidiary of Home Capital Group Inc., a publicly traded company on the Toronto Stock Exchange.
You need a good credit score of 660 or higher to qualify for the Home Trust Preferred Visa, and a credit score of 300-560 to qualify for the Home Trust Secured Visa.
It takes 2-3 weeks to know whether your application has been approved. It may take longer to get your card ready for use, depending on when your security deposit is received.
You can increase your credit limit for this card by increasing your security deposit.
Your Home Trust account reports to both Equifax and TransUnion.
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