Re-establish Credit With a Home Trust Secured Visa!
This credit card is designed to help Canadian’s establish or re-establish their credit.
How it works
You are required to put down a security deposit for eligibility. Your credit limit is then set at the amount of the deposit. You can put down as little as $500, or as much as $10,000. If you decide to cancel your card at any time you can just pay off your outstanding balance, and you’ll get your security deposit back from Home Trust.
Benefits of the Home Trust Secured Visa Card while re-building your credit
- Make purchases over the phone or online
- Plan and book a vacation
- Access cash anytime, anywhere from over 1 million ATMs around the world displaying the Visa or Plus logo
- Shop at over 24 million locations worldwide
Questions & Answers:
1. What is a secured credit card?
A secured credit card is a product in which the security deposit you provide is equal to your credit limit. It works just like any other credit card. You are required to make regular monthly payments over and above the security deposit this is not a “prepaid” card.
2.Why a secured credit card?
The Home Trust Secured Visa Card will allow you to build or rebuild a solid credit rating. Many people have been declined by the banks for a credit card due to past bad credit or because they have no credit history. Having a credit card is not a luxury anymore, it’s a necessity. The Home Trust Secured Visa Card allow you to make purchases on-line or by phone, book a flight or rent a car. And Visa is accepted at over 24 million locations worldwide.
3. How does this help me establish or re-establish my credit?
Home Trust reports your file to the credit bureau on a monthly basis. Your file is updated and your credit history begins. Both the primary applicant’s and the co-applicant’s credit bureau can be updated.
For more question and answers please visit Home Trusts FAQs page.
| Credit limit (min) | $500 |
| Credit limit (max) | $10,000 |
| Security deposit | $500 – $10,000 |
| Monthly or Annual Fees (primary applicant) | $5.00 monthly fee or $49.00 annual fee |
| Monthly or Annual Fees (secondary card) | $2.00 monthly fee or $19.00 annual fee |
| Interest rate (purchases & cash advances) | 19.99% |
| Over Limit fee | $29.00 |
| NSF fee | $45.00 |
| ATM fee (Canada) | 1% of withdrawal amount (min $2.50, max $10.00) |
| ATM fee (USA) | 1.5% of withdrawal amount (min $4.50, max $15.00) |
| ATM fee (non-North America) | 1.5% of withdrawal amount (min $5.50, max $15.00) |
| Minimum Payment | 3% of the balance or $10.00, whichever is greater |
(Subject to change without notice)
