Home Trust Secured Annual Fee Visa Card


Interest Rate


Annual Fee


Balance Transfer


Card Type

Low-Interest, Secured

The Home Trust Secured Visa credit card is issued by Home Trust, a leading Canadian financial services company established in 1977 to help people achieve their financial goals. The company has three card variants, each with its unique offerings that target various categories of Canadians. They are the Preferred, Equityline, and Secured Visa Credit Cards.

The card has a low annual fee and no penalties for missed or late payments, also making it a great option for those who are worried about added costs or fines.

Additionally, the card offers a competitive interest rate and the potential to have your deposit returned early, which is a great feature if you’re looking to eventually upgrade to an unsecured credit card. This review provides all you need to know about the Home Trusts Secured Visa Card and its perks.

Card Rewards: How the Home Trust Secured Annual Fee Visa Card Works

The Home Trust Secured Annual Fee Visa Card works like every regular credit card, except that it locks the deposit as the card limit. That means you cannot spend more than you have deposited in the account. Each month or year, the credit card holder will be required to make a deposit which will simultaneously count to build a better credit score. Users may deposit any amount between $500 and $10,000.

Although the Secured Visa credit card is excellent for improving credit performance, it may not be a perfect fit for those looking to get cash backs and card rewards. That is because the Secured Visa credit card does not offer rewards, unlike the other card variants that give a one percent cash back on all qualifying purchases and automatic hotel reservation opportunities.

Nonetheless, this card offers numerous benefits to its users who are typically students, self-employed, and others new in Canada. Some highlights features of this credit-boosting card are:

  1. No Annual Fee Option. All Secured Visa cardholders have the option to choose between two plans during registration, depending on their preferences. One gives an annual interest rate of 19.99 percent with zero annual fees, the other has a 14.90 percent interest rate coming with an annual fee of $59.
  2. No Penalties for Missed or Late Payments. Ideally, every cardholder should have to pay a monthly or yearly fee on or before stipulated dates. However, in case the cardholder misses the payment deadline or misses a payment, Home Trust does not penalize them. That afford them an opportunity to repair their bad credit score.

Benefits of Using Card Home Trust Secured Annual Fee Visa Card

The Card Home Trust Secured Annual Fee Visa Card offers a number of benefits for cardholders. One of the biggest benefits is that it helps cardholders to build or rebuild their credit history. This is important, as a good credit history is essential for getting approved for loans and other credit products in the future.

The Card Home Trust Secured Annual Fee Visa Card also comes with a number of other benefits discussed below.

  • Build Your Credit History. Helping users build their credit rating is the main focus of the Secured Visa credit card offerings. All they require to build an impressive credit rating is to keep up with their payments schedules while they shop with their cards every other day.
  • Control How You Spend. Owning a Secured Annual Fee Visa card gives users control over their spending. The users can only spend as much as they deposited and when they qualify, they can increase their spending limits.
  • Use Your Card Anywhere. The credit card is accepted in over 200 countries and two million ATMs worldwide, giving users the freedom to transact from anywhere in the world.
  • Protect Your Credit from Fraud. With the Zero Liability Policy, the Home Trust Secured Visa credit card owners get extra protection from unauthorized transactions done on their cards. If someone fraudulently uses a Secured Visa card without the owner’s consent, the card owner will bear a penalty for the fraudulent act.
  • Online Account Management. All Home Trust cardholders, including the Scured Visa credit card have access to a online account management. They can get their account information, track monthly expenses, and help from customer service from anywhere in the world

Details and Eligibility

Home Trust’s Secured Visa credit card offers several unique rates covered in the Secured Visa Disclosure Statement.

  • Annual Interest Rate: Is the minimum amount of charges cardholders have to on interest-bearing purchases and cash advances. The Secured Visa credit card has two options of interest rate: 19.99 percent with zero annual fees and $14.99 with $59 annual fee. The interest rate kicks in from the day the card is activated.
  • Interest-Free Grace Period. The card has a 21-day interest-free period on all card transaction except bank transfers and cash advances.
  • Minimum Payment. The minimum monthly payment is $10. It could also be three percent of the account balance if that is greater than $10.
  • Foreign Currency Conversion. Every transaction with a foreign currency on the card is first converted to the Canadian dollar and a two percent charge applies with every conversion.
  • Annual Fees and Other Fees. The Secured Visa Card does not require an annual fee but has some other charges. They include the $29 for overlimit, $45 dishonoured cheque fee, and $12 inactivity fee payable if the card is redundant for a 12-months period. Other charges include the ATM, statement copy and cash advance copy charges.

To be eligible for the secured visa card, applicants must:

  1. Have a steady income stream
  2. Agreed to the terms and conditions guiding the Secured Visa creditc card holders.
  3. Have reached the age of majority in their resident province.
  4. Be Canadian residents. However, the card is not available to people in Quebec province.

Insurance coverage

The Security Visa Card does not offer insurance coverage to the cards unlike the Preferred and Equityline cards that offer purchase security. The purchase security insurance feauture is issued by the Chubb Insurance Company of Canada. Instead, the Security Visa Card provides the Zero Liability Policy.

The Zero Liability Policy protects card users from taking resonaibility for unathorized transactionns made on their cards after they have reported stolen or missing. To benefit from the policy, the card holders will have to meet the following requirements:

  1. The user’s must be able to prove that they have taken necessary precautions to protects their card, PIN, and other security and verfication codes. These steps must meet the recommendations outlined in the Home Trust Cardholder Agreement.
  2. The cardholder must be willing to corporate fully with the investigation process following Visa Conditions.
  3. The cardholder did not benefit in any way from the unathorized transactions.

Home Trust Secured Annual Fee Visa Card 2022 Frequently Asked Questions

Yes. Home Trust Secured Visa Card is reliable, it’s often rated as the number one secured card.

No. Just like any other credit card, you can use your Home Trust Secured Visa Card to Shop, pay bills, transfer credit, rent vehicles, and appliances, as well as set up accounts online.

No. Home Trust Secured Visa Card is designed to accomodate people who may have past credit issues and would like a chance to build a better credit history.

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Home Trust Secured Annual Fee Visa Card Review

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