Credit card Home Trust Secured

This guide provides a comprehensive overview of the Home Trust Secured Visa Card, including its pros and cons, app features, information about the issuing bank, fees, and reasons for you to consider applying for this card.

Pros and Cons of the Home Trust Secured Visa Card

Pros:

• Helps build or rebuild credit;
• No credit check is required for approval;
• Flexible security deposit options;
• Accepted worldwide where Visa is accepted;
• Low annual fee option available.

Cons:

• Requires a security deposit ranging from $500 to $10,000;
• Limited rewards and benefits;
• Higher interest rates compared to unsecured cards;
• No introductory APR offers;
• Limited additional perks.

App Features

The Home Trust Secured Visa Card can be managed efficiently through the Home Trust app, which offers a range of features to help cardholders stay on top of their finances:

• Account Management: View your account balance, recent transactions, and payment history.
• Bill Payments: Pay your credit card bill directly through the app.
• Security Alerts: Set up alerts for suspicious activity and manage your card security settings.
• Transaction Notifications: Receive real-time notifications for every transaction.
• Customer Support: Access customer service directly through the app for any assistance.

About the Issuing Bank

The Home Trust Company, founded in 1977, stands as a prominent Canadian financial institution renowned for its comprehensive array of financial products and services.

Fees of the Home Trust Secured Visa Card

The Home Trust Secured Visa Card comes with several fees that potential cardholders should be mindful of.

• The annual fee for this card is $59, but there is also a no-annual-fee option available with a higher interest rate;
• The interest rate for purchases is 19.99% for the no-annual-fee option and 14.90% for the annual fee option;
• The cash advance interest rate is 19.99%;
• The minimal payment is the greater of 3% or $10 of the new balance shown on the monthly account statement;
• For foreign transactions, a fee of 2% of the transaction amount is applied;
• The ATM fees for cash advances vary based on location: $2.50 + 1% of the amount for Canada (up to $10), $4.50 + 1.5% for the US (up to $15), and $5.50 + 1,5% for locations outside of Canada and the US (up to $15). These fees are additional to any charges by the ATM owner or operator.
• Additionally, there is an overlimit fee of $29 and a rush plastic fee of $39 for the delivery of a new or replacement card by courier at the request of the applicant.

Understanding these fees can help you manage your finances better and make an informed decision about whether this card suits your needs.

Why Apply for This Card?

The Home Trust Secured Visa Card is an excellent choice for individuals looking to build or rebuild their credit history. Since approval does not require a credit check, it is accessible to those with damaged or no credit history.

The card requires a security deposit, which acts as your credit limit, providing a flexible option for those who need to control their spending. With worldwide acceptance where Visa is accepted, this card offers convenience and reliability.

Additionally, the low annual fee option makes it an affordable choice for many. The Home Trust Secured Visa Card also provides essential features such as real-time transaction notifications, security alerts, and easy bill payments through the Home Trust app.

These features make it a valuable tool for managing your finances and improving your credit score over time.