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Best Home Trust Credit Cards in Canada for 2023

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:

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:


Home Trust Secured Visa card

On Home Trust’s website

  • Credit-building secured card.
  • Improve your credit rating as you make payments.
  • Option to pay no annual fee.
  • High approval rate.
  • Use anywhere Visa is accepted.
  • Designed for people with bad credit or no credit record.
  • Set your limit by choosing a deposit amount between $500 and $10,000.

Option to pay an annual fee for a lower interest rate

Improve your credit rating using the card

Flexible deposit limits

High approval rate

No premium perks included

The Home Trust Secured Visa provides people with low credit scores a way to access a credit card and start improving their scores. The option to pay an annual fee for a lower interest rate may be useful if you carry a balance, and the flexible deposit amount means you can choose how much credit you want to access.

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

Home Trust Preferred Visa

On Home Trust’s website

  • Earn 1% CashBack Rewards on eligible purchases with no cap.
  • No FX fees when you make overseas purchases.
  • Purchase security insurance protects against theft or damage for up to 90 days after purchase.
  • Visa Zero Liability provides protection from fraud.
  • Enjoy guaranteed hotel reservations anywhere in the world.

No limit on cashback

No FX fees

No annual fee

Cash back rate is quite low

Few additional perks besides cashback

With no foreign exchange fees and guaranteed hotel reservations perk, the Home Trust Preferred Visa is a great choice for travellers. The fact that it has no annual fee is an extra plus, and the ability to earn unlimited cashback provides an excellent way to earn back money while you spend.

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 feeCash back ratePerksInterest rate
Home Trust Secured Visa$0 or $590%Easy to qualify for regardless of credit14.90% or 19.99%
Home Trust Preferred Visa$01%Purchase security, no FX fees21.99%
Home Trust Equityline Visa$00%Purchase security, no FX fees7.99% – 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: Get an additional 10% cash back valued at $100 in the first 2 months.

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Minimum income requirement: $12,000

Recommended credit score:

Fair to Good

Tangerine Cash Back Credit Card

On Tangerine’s website

  • No annual fee.
  • Unlimited 2% cash back in two spending categories. Get an extra 2% cash back category when you deposit cash back earned in a free Tangerine savings account.
  • Unlimited 0.50% cash back on all other purchases.
  • Cash back earned is paid out monthly.
  • Complimentary Mastercard® Travel Pass Provided By DragonPass membership with access to over 1,300 airport lounges at $32 USD per visit.
  • Rental car and mobile device insurance are included.
  • Access to over 1 million Wi-Fi hotspots worldwide through Boingo Wi-Fi
  • 1.95% promotional balance transfer for first 6 months; 3% balance transfer fee applies ($5 minimum).
  • Purchase assurance to cover loss, theft or damage of new items purchased using the card for up to 90 days.
  • Compatible with Apple Pay, Google Pay, and Samsung Pay.
  • Extended warranty for up to one extra year.

No annual fee

Easy access to airport VIP lounges

Car rental and mobile device coverage

High cash back rates with unlimited earning potential

Lacks comprehensive travel benefits

The Tangerine World Mastercard offers premium perks without charging an annual fee. Its competitive cash back earn rate makes it worthwhile for any wallet, and the mobile device and car rental coverage are solid benefits to have up your sleeve.

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: $0

Rewards: Earn up to 15% cashback on first purchases at eligible partners, 5% cash back at partner stores, and 0.5% unlimited cashback on everything else.

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:



On Neo Financial’s website

  • Earn up to 15% cashback on first purchase at eligible partners.
  • Earn 5% unlimited cashback at partner stores.
  • Earn 0.5% unlimited cashback on everything else.
  • Create Subscription Bundles to get extra cashback, insurance, or subscriptions.
  • Choose your own credit limit.
  • Minimum security fund requirement of $50.
  • No overlimit fees.
  • Use auto-pay to avoid missing payments.
  • Guaranteed approval and no hard credit checks.

Earn up to 15% cashback

Good rewards for a secured card

No annual fee or overlimit fees

Guaranteed approval

High-interest rate

Few additional perks

If you have a bad credit score or no credit history, the Neo Secured Mastercard gives you a way to start improving your score while earning up to 15% cashback. We also like that it has no annual or monthly fees and offers guaranteed approval.

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 (Premium) Prepaid Mastercard

Best premium prepaid card in Canada

Annual fee: $9/month or $84/year

Rewards: Earn 2% cashback on 3 categories of spending, and earn 0.5% cash back on other purchases. Up to 6% cash back at partner retailers.

Welcome offer: $20 sign-up bonus when you enter our CASHBACK promo code.

Interest rates: 0%

Minimum income requirement: None

Recommended credit score:


koho extra premium card-img

On KOHO’s website

  • Earn up to 6% cash back on purchases at partnered merchants and a higher minimum cash back rate on most purchases.
  • Earn 4% high interest on your balance.
  • No foreign exchange fees.
  • Get priority user support.
  • Get access to a financial coach to answer financial questions.
  • Get one free withdrawal per month at an international ATM.
  • Easily subscribe to credit building and improve your credit score.

Earn up to 5% cashback

No foreign exchange fees

No interest fees

Must pay a monthly or annual fee

Cash back rate is not as high as some cards

The KOHO Premium Prepaid Mastercard offers cashback on all purchases and pays interest on your balance. Waivers for foreign exchange fees and a free international ATM withdrawal make it a suitable option for travellers.

Frequently Asked Questions

Who owns Home Trust?

Home Trust is a subsidiary of Home Capital Group Inc., a publicly traded company on the Toronto Stock Exchange.

What credit score is needed to qualify for the Home Trust Visa?

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.

How long does it take to get a Home Trust Visa Card?

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.

How do I increase my limit on the Home Trust Secured Visa?

You can increase your credit limit for this card by increasing your security deposit.

What credit bureau does Home Trust use?

Your Home Trust account reports to both Equifax and TransUnion.

Related: Does EQ Bank Have a Debit Card?

Best Credit Offers in September 2023

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No credit check and free budgeting app with automatic savings features.

Increase your credit score with an optional credit building add-on.

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Earn up to 5% unlimited cash back at 10,000+ participating stores.

No annual account fees.

Guaranteed instant approval credit card with 600+ credit score.

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in Forbes, The Globe and Mail, Business Insider, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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Best No Annual Fee Prepaid Cash Back Card
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