Home Trust Preferred Visa Credit Card Review

Home Trust Preferred Visa card is best suited to both frequent travellers and online shoppers. Since there is no annual fee, no foreign currency transaction fees, and cash back on every type of purchase, this is the best kind of card to have whether you are frequently heading away from home for business/recreation or you prefer to shop from the comfort of your couch.
Home Trust Preferred Visa Credit Card Review

Last Updated on August 30, 2021 by Borche Stefanov

The Home Trust Preferred Visa card is one of the simplest cards offered by any banking institution. The rewards program is incredibly straightforward with a basic 1% cash back on all purchases in North America. However, there is no cash back available for purchases made with foreign currency. The redeemability of the cash back is also quite limited, as you can request a withdraw only once a year in December to receive a deposit into your account in January as a statement credit. While restricted, it is also a very simple process, and the limited access to the funds throughout the year can help you save money.

  • Cash back on all purchases
  • No annual fee
  • No foreign exchange fees
  • Very simple to understand
  • Great purchase security with 90-day insurance of theft or damage of eligible items

Specification: Home Trust Preferred Visa

Annual Fees

$0

Interest Rate

19.99%

Balance Transfer

19.99%

Cash Advance

19.95%

Network
Card Type

Cashback, No Annual Fee, Travel Rewards

0

There is no annual fee attached to this card, and the $15,000 minimum personal income required for eligibility is easily achievable. This card is therefore available to nearly everyone. With a 19.99% interest rate on regular purchases, cash advances, and balance transfers, this card also offers the lowest combined interest rates of any other comparable card offered by any institution. The lack of caps or tiers on your earn rate also sets this card apart from the competition. You will also receive purchase protection with the use of this card, a benefit that can be enjoyed by every shopper.

Details Summary

  • Interest Rate: 19.99%
  • Interest Rate Promo: N/A
  • Balance Transfer Rate: 19.99%
  • Balance Transfer Rate Promo: N/A
  • Cash Advance Rate: N/A
  • Cash Advance Rate Promo: N/A
  • Annual Fee: $0
  • Card Best Suited For: Frequent travelers, online shoppers
  • Reward Type: Cash back
  • Signup/Welcome Bonus Offers: N/A

Card Best Suited For:

This card is best suited to both frequent travellers and online shoppers. Since there is no annual fee, no foreign currency transaction fees, and cash back on every type of purchase, this is the best kind of card to have whether you are frequently heading away from home for business/recreation or you prefer to shop from the comfort of your couch. The limit of 10 transactions per day may become an issue for some people, but it is also a great way to regulate shopping if overspending is a problem you are afflicted with.

9 Total Score
Home Trust Preferred Visa Review

PROS
  • Don’t pay exchange fees on foreign currency transactions
  • $0 annual fee means this card is affordable by everyone
  • Get 1% cash back on every purchase
  • No limit on how much cashback you can earn
  • Offers purchase protection
CONS
  • Minimum annual personal income of $15,000 is required to be eligible
  • Can only redeem cash back once a year as a statement credit
  • Limit of 10 transactions per day
  • No cash back earned for transactions made with foreign currency
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