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Home Trust Secured Visa Card Overview

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Having bad credit or no credit history can be a barrier to several purchases in Canada. It makes it difficult to buy products on credit. For instance, you may not be able to get a credit card or be approved for a mortgage.

The good news is you don’t have to live with it. There’s a solution in the form of the Home Trust Secured Visa card.

Carrying no annual fee, the Home Trust Secured Visa is great for anyone who wants to build or rebuild their credit. The card has an interest rate on purchases of 19.99%, but it’s only charged when you carry a balance.

If the idea of signing up for a card with a high-interest rate doesn’t sit right with you, there’s an alternative. Home Trust gives you the option of getting a lower rate of 14.90% by paying an annual fee of only $59.

The Home Trust Secured Visa card has guaranteed approval. Therefore, your credit history or consumer proposal won’t put a damper on your chances of getting the card.

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As long as you put down a deposit between $500 and $10,000, you may be approved. Your deposit can help you control your spending because it’ll limit how much you can charge to your card. Therefore, if you make a deposit of $2,000, you’ll set your credit limit at $2,000.

You will have to pay your balance off in full every month. After which, Home Trust will send monthly reports to Equifax and TransUnion to help you build or rebuild your credit.

The Home Trust Secured Visa card comes with other valuable perks. This includes Visa Zero liability and a lower foreign exchange fee. In addition, you can manage your account online.

As for acceptance of the Home Trust Secured Visa card, you can use it wherever you see the Visa logo. Therefore, regardless of whether you’re purchasing in your province or abroad, you can rely on your card.

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Essential Information




Home Trust

Card Type


Key Perks

The Home Trust Secured Visa card comes with the following valuable benefits.

  • Visa Zero liability for unauthorized purchases made with your card. Essentially, you won’t have to pay for any fraudulent activity.
  • Over 200 countries and territories accept the Home Trust Secured Visa card. Therefore, wherever you travel anywhere in the world, you pay with your card.
  • Home Trust Visa Online for easier account management.
  • A lower foreign exchange fee of 2% when making purchases that aren’t in Canadian dollars.
  • Ability to reduce your interest rate by paying an optional annual fee of $59.
  • Minimum deposit requirement of $500, with a maximum of $10,000. Your deposit determines your credit limit, and you’ll get it back when you close and settle your account.
  • Guaranteed approval, even for individuals with a bankruptcy declaration on their record.
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Costs and Fees

  • Annual fee: $0
  • The interest rate on purchases: 19.99% (only charged when you carry a balance)
  • Cash advance interest rate:
  • Dishonoured payment fee: $45
  • Foreign currency conversion fee: 2%
  • Cash advance minimum fee: $2.50
  • Interest-free grace period: 21 days

FAQs about the
Home Trust Secured Visa Card

Should I Get the Home Trust Secured Visa Card?

If you need to build or rebuild your credit, the Home Trust Secured Visa card will be an excellent fit for you. The monthly reports Home Trust sends to Equifax and TransUnion will help improve your credit rating. However, this requires paying off your card balance in full each month.

Who’s Eligible for the Home Trust Secured Visa Card?

Virtually everyone who applies for the Home Trust Secured Visa card is approved. The top requirements are that you’re a Canadian resident and the age of majority in your province. Other than that, there are no minimum income or credit score requirements. You can apply even if you have declared bankruptcy in the past or are in a consumer proposal.

What Information Do I Need to Provide When I Apply for This Card?

You will need to provide personal information such as your name, contact details, email address, and date of birth. To apply for the Home Trust Secured Visa card, you will also need to provide your residential status and Social Insurance Number (SIN).

How Does the Home Trust Secured Visa Card Work?

With the Home Trust Secured Visa card, you’ll have access to credit that’s limited to the deposit you put down. Therefore, if you make a deposit of $1,500, your credit limit will be $1,500. You borrow against the deposit and pay off the outstanding balance just like a regular credit card. What makes the Home Trust Secured Visa card different is that you’ll get your deposit back when you close your account.

Is the Home Trust Secured Visa Card Different From a Prepaid Credit Card?

There are several differences between the Home Trust Secured Visa card and a prepaid credit card. With a secured Visa card, you can improve your credit history and rating. A prepaid credit card doesn’t offer this benefit. Also, the Home Trust Secured Visa card allows you to control your spending limit with your deposit. And almost all places with a Visa logo accept your card, unlike a prepaid credit card that may not be widely accepted.

Can This Card Really Get Me a Better Credit Rating?

Yes. Your credit history is established since Home Trust reports to the credit bureaus every month. You’re responsible for keeping up with your payments. As long as you do this, your credit score will improve.

Do I Have to Pay an Annual Fee?

No. However, if you want a lower interest rate of 14.90% than the standard 19.99%, you can pay a fee of $59.

If I Decide to Close My Card, Will I Get My Deposit Back?

Yes. Secured cards reimburse you for the deposit you make as long as you settle your account in full.

General Terms

1 To qualify, applicants must have a source of income and cannot currently be in bankruptcy and are subject to other terms and conditions including validation of ID and applicable Know Your Client requirements. Applicants must be at least the age of majority in the province/territory where they reside (18 years of age in Ontario, Alberta, Saskatchewan, Manitoba, Prince Edward Island; 19 years of age in British Columbia, New Brunswick, Nova Scotia, Newfoundland/Labrador and the territories). Rates and fees subject to change without notice. The Home Trust Secured Visa is available to Canadian residents except residents of Québec. 2 Cardholders can choose between no annual fee and 19.99% interest or an annual fee of $59 and 14.90% interest. 3 Certain restrictions, limitations and exclusions apply. The Visa Zero Liability policy protects Visa cardholders who have a Canadian issued Visa card and experience fraud through unauthorized use of their card. Visit visa.ca for more information. View the Cardholder Agreement here.

Home Trust Secured Visa Card Details

Home Trust
Network Provider
Card Type
Annual Fee
Purchase Interest Rate
Cash Advance Rate
$2.50 fee
Credit Needed
Poor (300 - 559)

Home Trust Secured Visa Card Offices

Phone Number
Monday to Friday, 8 am to 10 pm. Saturday 9 am to 5 pm. EST
145 King Street West, Suite 2300 Toronto ON M5H 1J8 Canada
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Home Trust Secured Visa Card Card Details
  • Min. Credit :
    Poor (300 - 559)
  • Card Type : Secured
  • Providers : Home Trust
  • Network Provider : Visa
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