Best for: People rebuilding credit who want a secured card with a lower interest rate
- Purchase rate
- 19.99%
- Annual fee
- $59 a year
Have this card?
Details from Home Trust’s site. Banks can update terms at any time, so give them a quick look before you apply. Source
The good and the bad
Watch for
- Watch for: $59 a year
Worked out from the card’s rates and fees.
Can I get it?
- Age 18 or older 19 or older in BC, NB, NL, NS and the territories
- Where you live Canada
- Security deposit $500
- Credit score No minimum on record Most banks don’t publish one, and we don’t guess.
Mr. Loonie’s tip Pay the full balance every month and keep it well under your limit. That is what builds your credit score.
Other reviewers on this card
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Forbes (opens in a new tab) Mar 20235.8
“This credit building secured card has a high approval rate and is a great option for Canadians with poor credit or no credit history who are looking to build up their credit score.”
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Reviewlution (opens in a new tab) Oct 2022
“Our Home Trust Secured Visa review found that this card, with its astonishing acceptance rate of 95%, is best suited for those starting again. As one of the top prepaid credit cards in Canada, It’s also perfect for people who want to rebuild their credit history after a bankruptcy or a bad stretch. What’s more: It can also be a first step towards the card you’ve been wanting but do not have the required credit score. Home Trust secured Visa will help you build your credit score, which is ultimately more important than the rewards.”
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My Rate Compass (opens in a new tab) Aug 20209
“Build or re-build your credit, even if you’ve had credit difficulties in the past, or have never had a credit card before! An excellent opportunity to establish your credit rating. The Home Trust secured credit card is an excellent credit card that enables those who do not have a good credit score to rebuild and reestablish it.The card has an interest rate of 14.90% on purchases.”
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“Approving virtually everyone (even if you had to declare bankruptcy or have zero credit history), the Home Trust Secured Visa will give you a credit limit that matches your deposit, up to $10,000. As you use the card (and remember to pay your balance off in full every month), Home Trust will report monthly to Equifax and TransUnion, helping you to build or rebuild your credit.”
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What it costs
- Annual fee
- $59 a year
- Purchase interest
- 19.99%
- Cash advance interest
- 19.8%
- Foreign currency fee
- 2%
All fees and rates
Fees
- Extra cards
- $19
- Cash advance fee
- 1%, Minimum of $2.50, maximum of $10.00
- Over-limit fee
- $29
- Late payment fee
- None
Interest rates
- Source
- Issuer page
Read the card terms and conditions for the full terms.
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Questions people ask
What is the annual fee on the Home Trust Secured Visa Card?
$59 a year. Each extra card costs $19.
Does it charge a foreign transaction fee?
Yes, 2% on purchases in other currencies.
What is the interest rate?
19.99% on purchases. Cash advances are 19.8%.
Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.
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