Home Trust Secured Visa Review

Annual Fee
Minimum Deposit
Maximum Deposit
Purchase APR
Min Personal Income Required
Recommended Credit Score
740 850 670 739 580 669 0 579
Great no annual fee option. Build, re-build or establish your credit with a Secured Visa if you've had bad credit or no credit card in the past.

At a Glance

  • Easy approval for almost anyone
  • $0 annual fee
  • 21-day no interest grace period after monthly statement
  • Credit limit scales with security deposit
  • Monthly reporting to credit bureaus
  • 19.99% APR

For those individuals with less than stellar credit who need to rebuild or reestablish their good standing, the Home Trust Secured Visa is a capable tool—and it’s offered at no annual fee. ‘Secured’ means that the credit limit attainable is flexible, ranging from $500 to an impressive $10,000, depending on how much is put down initially as a security deposit.

The Home Trust Secured Visa offers cardholders flexibility, including a grace period after each monthly statement that imposes no extra interest on the bill for 21 days. Additionally, minimum payments are highly manageable, coming down to whichever sum is greater at the end of the month – $10.00 or 3.00% of the card’s current balance.

On top of the low-barrier entry and useful features for rebuilding credit, cardholders will also benefit from having a Visa in their wallets. Access to millions of ATMs and shops around the world, easy online banking, and purchase protection are convenient perks that VISA customers will find valuable.

Why We Like It

  1. Easy Access: Virtually all applicants are approved for the Home Trust Secured Visa, giving those with a dire need to rebuild their score the tools to do so immediately. Common reasons for being declined include deal-breaking factors like being under the age of majority, an applicant’s failure to provide a security deposit, and other reasons that are largely unrelated to an applicant’s credit status.
  2. Monthly Reporting: Home Trust reports a cardholder’s progress on paying bills to major credit agencies every month, expediting the credit repair or improvement process.
  3. Scaling Credit Limit: The Home Trust Secured Visa requires a $500 minimum deposit to be put down, with the credit limit scaling on a 1:1 basis all the way up to $10,000. Additionally, if the card is cancelled in the future for any reason, the entire security deposit will be reimbursed as long as the outstanding bill is paid in full.
  4. No-Interest Grace Period: After the monthly statement arrives, customers have 21 full days to pay their bill while accruing no extra interest. This allows a bit of breathing room to organize your finances and pay the bill on time, every time.
  5. Low Minimum Payments: If cardholders choose to pay the monthly minimum rather than the full balance, they’re allowed to pay either the greater of $10.00 or 3.00% of the monthly balance.
  6. No Annual Fee: Customers pay absolutely no annual or monthly fees to use this credit card.


Those with excellent or even good credit would be better served by another card that offers lucrative rewards or cash back. But by approving virtually all applicants, Home Trust Secured Visa provides an opportunity to those who are in greatest need of improving their credit.

Author Bio

GreedyRates is Canada’s go-to resource for all things personal finance. Our expert articles and videos cover every topic under the financial sun, including credit cards, credit scores, loans, bank accounts, budgeting, investing, RSPs, TFSAs, GICs, taxes, and more. Want our advice on a personal finance issue? Send us an email at [email protected] and we’ll gladly give you some free tips.

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