• TIME IN BUSINESS: Since 1977
  • LOAD LIMIT: $10,000
  • RELOAD OPTIONS: Home Trust, Bank of Montreal, all institutions that accept Visa, telephone, and online banking
  • ANNUAL FEE: $39/one-time setup fee, $7.50/per month
  • APR: N/A
  • FX FEE: None

Home Trust Secured Visa Review [2021 Features, Pros & Cons]

  • TIME IN BUSINESS: Since 1977
  • LOAD LIMIT: $10,000
  • RELOAD OPTIONS: Home Trust, Bank of Montreal, all institutions that accept Visa, telephone, and online banking
  • ANNUAL FEE: $39/one-time setup fee, $7.50/per month
  • APR: N/A
  • FX FEE: None

Best For

Rebuilding credit and building your credit score from scratch


  • Accepted everywhere Visa is used
  • Allows you to set your own limits
  • Reports to credit bureaus
  • Member of Canada Deposit Insurance Corporation (CDIC)
  • Rated number one secured card in 2021


  • Does not offer rewards or discounts
  • Comes with various fees

This Home Trust Secured Visa review will introduce you to the number one secured credit card for 2021 and the best credit card for rebuilding credit in 2020.

What Do I Need to Know About Home Trust?

Home Trust Company is part of the Canadian holding company Home Capital Group founded in 1977 in Toronto. Home Trust offers various financial products and services, such as mortgages, Visa cards, deposits, and retail credit services. The company provides services throughout Canada, including Ontario, Quebec, and British Columbia. 

The Home Trust Secured Visa will help you build or rebuild your credit rating if you are just starting out or even recovering from bankruptcy. With Home Trust, your line of credit will increase and set you up for making that next step to getting other credit cards approved.

The deposit you make backs your secured card, gathers interest, and will be returned to you if you close the account. It works just like any other Visa card. You can make purchases with the Home Trust Visa online or over the phone, use it everywhere Visa is accepted, as well as all Visa accepting ATMs.

In this Home Trust Visa review, we will go over: 

The main card features

Application procedure 

Pros and cons

Frequently Asked Questions about the Home Trust secured Visa card

Services Overview 

This Home Trust Secured Visa review will focus on the Home Trust Secured Visa, a credit card that requires you to leave a security deposit to be eligible to get it. The amount of the deposit will determine your credit limit. 

If you put down $1,000, that is where your limit will be; if you put down a $10,000 deposit, your limit will be the same. And your deposit will be earning interest. The company will send reports to the credit bureau every month and update your credit history. 

Prepaid Credit Card Features

Home Trust Secured Card

What is a Home Trust secured credit card? Home trust reviews find this is a customer favourite among secured cards. It is not a prepaid card. Instead, it is a card with a security deposit you provide, which will dictate your credit limit. Still, the deposit doesn’t mean that you are free of monthly payments. Home Trust Visa review found that the Home Trust Secured card was rated as the best among secured credit cards for 2021.

Minimum and Maximum Credit Limit

  • Minimum credit limit $1,000
  • Maximum credit limit $10,000

If you wish to increase your limit at any point, all you need to do is send additional funds stating that the deposit is for the increase of the credit line. Overpayment will not serve this purpose.

Typical approval Time

Typical approval time is somewhat prolonged due to employees’ new safety measures caused by the COVID 19 pandemic. Operations are moved to remote locations, and processing might be delayed, as might be wait times for Home Trust customer service

Monthly Payments and Home Trust Secured Visa Fees

  • Account set-up fee $39
  • Service fee $7.50/primary applicant, per month
  • Service fee $3.00/secondary card, per month
  • Over limit fee $29
  • NSF Fee $39
  • ATM Fee $2 in Canada
  • ATM Fee $4.50 in the US
  • ATM Fee $5.50 outside North America

Home Trust Interest Rates

  • Interest paid on security deposit 2%
  • Interest rate on purchases 19.50 %
  • Interest rate on cash advances 21.50%
  • Minimum Payment 3% or $10

Deposits and Loads

Every Canadian institution that uses Visa will accept your payments, Bank of Montreal, and online or telephone banking. You can also mail cheques or money to Home Trust.

Capital One Security Deposit Refund

The secured deposits can be refunded either by earning it back as a statement credit by using your card or when you close your account after you’ve paid your balance in full.

Home Trust Visa Change PIN

If you need to change your pin, call 1-833-263-2828 and follow the instructions to get a new four-digit PIN.

Eligibility Criteria

In order to get the card, you must meet the following criteria:

  • 18 years of age in Ontario, Alberta, Saskatchewan, Manitoba, Prince Edward Island.
  • 19 years of age in British Columbia, New Brunswick, Nova Scotia, Newfoundland, Labrador, and the territories.
  • The card is not available to residents of Quebec.
  • You will need an estimated minimum credit score of 300-559.
  • You must have a source of income.
  • Those currently in bankruptcy do not qualify.
  • The approval rate is around 95%.
  • You will have to pay a security deposit from a Canadian account in your name.

How To Apply for a Prepaid Credit Card with Home Trust? 

First, choose a card and a rate that suits you best:

  • 14.90% interest and $59 annually
  • 19.99% interest and $0 annually

After that, you can send in your home trust visa application following these steps: 

Step 1: 

Fill out an application form.

 Step 2: 

Mail the application form to Home Trust at 145 King Street West, Suite 1910, Toronto, Ontario, M5H 1J8 or to the PO Box on the application. Send the security deposit along; otherwise, the company won’t process the application. If your application is declined, the deposit will be returned.

Step 3: 

The application process should be completed in two to three weeks, but delays are expected due to pandemic restrictions and remote work.

Home Trust Secured Visa Pros & Cons


  • One of the biggest Home Trust Visa benefits – helps you build credit
  • You can choose between an annual fee of $59 and 14.90% interest or no annual fee and 19.99% interest
  • Use it as any other Visa card, worldwide
  • Set your own limit by the amount you deposit ($500 to $10,000)


  • No rewards system
  • Potentially prolonged approval wait period

Home Trust Secured Visa Review – Privacy & Security Policy

The personal information you provide will potentially be shared with institutions such as credit bureaus, mortgage insurers, creditor insurers, registries, and other officials

Physical, organizational and electronic security of the information you have provided is accessible only to authorized agents and employees. 

Home Trust User Reviews & Feedback

Positive Home Trust reviews often focus on the high acceptance rate of applications. The negative user comments address the delays in delivery that are currently caused by some delays in services. These are due to the pandemic and the company’s decision to move work to remote locations. 

Home Trust Secured Visa Alternatives

BMO Prepaid Mastercard

The Bank of Montreal Prepaid Mastercard does not ask for a deposit. You can load $100 or $10,000. The card comes with a $6.95 annual fee and no interest rate for purchases or cash advances. This card is accepted at 30 million Mastercard locations and is ideal for travel.

Over a million ATMs will accept it, and as for the rewards, there are some unexpected ones, such as 15% off Cirque du Soleil tickets for Canada tours and 20% off Las Vegas

resident shows.

KOHO Premium Prepaid Visa

One of the most popular cards when it comes to reloadable Visa Canada is using is KOHO Prepaid Visa. It’s a simple and fast way to deal with your everyday banking needs. Top up your card, get cashback, and save automatically with roundup features. It won’t build you credit, but it comes with little to no fees and plenty of rewards. KOHO perfect tool to control your spending and never go overboard.

Wrap Up

Our Home Trust Secured Visa review found that this card, with its astonishing acceptance rate of 95%, is best suited for those starting again. As one of the top prepaid credit cards in Canada, It’s also perfect for people who want to rebuild their credit history after a bankruptcy or a bad stretch. 

What’s more:

It can also be a first step towards the card you’ve been wanting but do not have the required credit score. Home Trust secured Visa will help you build your credit score, which is ultimately more important than the rewards.


Is Home Trust a good company?

Home Trust is a good and reliable company whose secured Visa cards will get you started and give you the boost you need to start building your credit score.

How long does it take to get a Home Trust VISA card?

The application process takes approximately two to three weeks from the time the application and receipt of the security deposit.

What credit bureau does Home Trust use?

This Home Trust Secured Visa review found that Home Trust reports your account’s monthly status to both Equifax and TransUnion. Providing these credit bureaus with updated credit activity is key to repairing your credit.


With an early start in journalism and years of work as a technical translator, Marija felt it was natural to blend the two. Passionate about news and research, she enjoys sifting through the data, researching new currents and the constant changes in our technologically and financially driven lives, as well as presenting the stats and facts to the readers so you don’t have to dig deep on your own.