Annual Fee
$59
Extra Card Fee
$0
Purchase
14.90%
Cash Advance
19.80%
Balance Transfer
19.80%
Personal Income
N/A
Household Income
N/A
Canadian resident who has reached the provincial age of majority.
  • Virtually everyone is approved, even if you have declared bankruptcy or are in a consumer proposal - you just need to make a security deposit.
  • Credit limit will be equal to the security deposit amount.
  • Minimum deposit required is $500 up to $10,000 which is returned to you when you pay your balance in full and close your account.
  • Home Trust will report to Equifax and TransUnion every month, helping you build your credit.
  • Annual fee of $59 can be paid yearly or $5 a month.
  • Enjoy a low interest rate of 14.9%
  • Purchases are covered by 90 days of purchase protection.
Purchase Protection 90 days

Please review your insurance certificate for details, exclusions and limitations of your coverage.

Our Review

If you are struggling with poor or no credit, secured credit cards could be the answer to the question, "What do I need to do to get my credit on the right track?"

Secured credit cards are a great tool to help people who haven't had a chance to build their credit, or who have had some credit issues in the past.

Because credit card issuers are taking a chance on people who have no or poor credit, they require their cardholders to put down a security deposit or "security funds". In the case of the Home Trust Secured Visas, these funds will match the amount of credit you are given. Your security funds will be returned when you close your account - assuming your account is in good standing and paid in full.

One of the best parts?

Home Trust approves virtually everyone for the Home Trust Secured Visa (even if you had to declare bankruptcy or have zero credit history). And they will also report monthly to Equifax and TransUnion, helping you to improve your credit as long as you pay your balance as agreed every month.

What about the credit limit though?

The Home Trust Secured Visa is flexible in that it will give you a limit that matches your deposit, up to $10,000.

Not only does this card provide the security of having a Visa, but it also adds extra security by covering all of your purchases with 90 days of Purchase Protection.

For more peace of mind, the $59 annual version of this card comes with a lower interest rate of 14.90%. That means if for some reason you are unable to pay your balance in full, you will only be charged 15% interest, instead of the typical 20%. Be sure to pay at least the minimum payment though to keep your credit history healthy!

If you aren't concerned about a lower interest rate because you will be paying your entire balance every month, then you can save yourself $59 and apply for the no fee version.

What are your thoughts?

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