Home Trust Secured Visa

Welcome Bonus

N/A

N/A

Annual Fee

$0.00

Annual Rewards

N/A

N/A

Rewards on Approval

N/A

Purchase Rates

19.99%

Cash Advance Rates

19.99%

Balance Transfer Rates

N/A

Table of Contents

Unlike a prepaid card, the Home Trust offering is essentially a secured Visa, functioning just like a standard credit card. This feature makes the Home Trust Secured Visa a powerful tool for individuals with non-traditional credit backgrounds, such as self-employed individuals, students, newcomers to Canada, and those with past credit challenges. It empowers you to take control of your financial future by establishing or rebuilding credit.

Pros

  • 0 annual fee
  • Assists in establishing a credit history
  • Online application is available

Cons

  • This credit card is unavailable in Quebec
  • No Welcome bonus
  • Opting not to pay the annual fee results in a higher purchase rate
  • Monthly payments are mandatory

Details & Eligibility

  • N/A
  • N/A
  • N/A
  • $0.00
  • N/A
  • Visa
  • No
  • 19.99%
  • 19.99%
  • N/A
  • N/A
  • N/A
  • N/A

What it does?

If your credit card application is declined due to a poor credit score or the absence of a credit history, the Home Trust Secured Visa is designed to help establish or rebuild credit for individuals with non-traditional credit backgrounds. This includes self-employed individuals, students, newcomers to Canada, and those who have faced previous credit challenges. This secured Visa operates similarly to a standard credit card but does not impose an annual fee. By using this card, you have the opportunity to take control of your financial future. It assists in building a positive credit history, which can result in better interest rates on loans and improve your likelihood of being approved for a rental or mortgage.

What Makes It Unique?

While functioning similarly to a prepaid card that requires an initial deposit, the Home Trust Secured Visa enables you to construct or repair your credit history and enhance your credit rating. Your financial activities with this card are reported directly to the credit bureau by Home Trust, contributing to the positive development of your credit. With each payment, you make meaningful progress towards building a stronger credit rating. Additionally, the option to deposit significant sums—up to $10,000—onto your card reduces the need for frequent reloading. Being part of the Visa network means it is accepted wherever the Visa logo is displayed globally. Your card is covered by the Visa Zero Liability policy, assuring you pay nothing for unauthorized purchases made with your card number. Furthermore, you can seamlessly integrate your card with digital wallets such as Apple Pay, Google Pay, or Samsung Pay.

Conclusion

In conclusion, the Home Trust Secured Visa provides a practical and effective solution for individuals looking to improve their credit standing. With its prepaid card functionality, direct credit bureau reporting, flexible deposit options, global acceptance, and security features, it offers a comprehensive approach to credit building and financial management. This card stands as a valuable tool for those with non-traditional credit backgrounds, offering a pathway to a stronger financial future.
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