Fees and interest
| Annual fee | $0 |
|---|---|
| Additional card | $0 |
| Purchases | 19.99% |
| Cash advances | 19.99% |
| Foreign transactions | 2% |
Who can apply
| Income | None stated (a source of income is required) |
|---|---|
| Security deposit | $500 to $10,000 |
| Approval | Almost everyone who applies with a deposit is approved; for building or rebuilding credit (newcomers, students, self-employed, past credit issues); not if currently in bankruptcy |
| Quebec | Not offered |
| Card type | Secured, Visa |
Good to know
Your deposit
Home Trust holds your deposit while the account is open, and it is eligible for CDIC protection. To raise your limit, you add to the deposit. Asking for the deposit back closes the account, and the rest of it is returned once you have paid what you owe in full.
Credit reporting
Home Trust reports your account activity to the credit bureau each month once the card is issued.
Cash advances
Cash advances are limited to 20% of your credit limit.
The low-interest version
You pick the version on the application. The low-interest version charges 14.99% on purchases, with a fee of $59 a year or $5 a month.
Questions
How much deposit does the Home Trust Secured Visa need?
Your credit limit is based on your deposit, which can be from $500 to $10,000.
What is the annual fee for the Home Trust Secured Visa?
The no-fee version has no annual fee. The low-interest version costs $59 a year, or $5 a month.
What interest rates does the Home Trust Secured Visa charge?
The no-fee version charges 19.99% on purchases and 19.99% on cash advances.