No Fee Home Trust Secured Visa Card Review
The best way to get the credit you deserve.The application process is very simple and almost everybody is approved!
Build or re-build your credit, even if you’ve had credit difficulties in the past,
or have never had a credit card before! An excellent opportunity to establish your credit rating.
Get all the benefits of Visa* while re-building your credit:
- Make purchases over the phone or online
- Plan and book a vacation
- Access cash anytime, anywhere from over 1 million ATMs around the world displaying the Visa or Plus logo
- Shop at over 24 million locations worldwide
The Home Trust Secured Visa Card is a credit card that requires a security
deposit for eligibility. Your credit limit is then set at the amount of the
deposit. You can put down as little as $500, or as much as $10,000
The Home Trust Secured Visa Card is not available to residents of Quebec.
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Priority airport services
No
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Airport lounge access
No
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Concierge service
No
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Balance protection(Optional)
No
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Purchase Security & Extended Protection Insurance
NO
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Flight delay insurance,Baggage Insurance
No
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Vehicule rental insurance
No
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Travel accident insurance
No
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Travel medical insurance
No
- Annual Fee: $0
- Additional Card Fee: $0
- Purchases Interest Rate: 19.99%
- Cash Advance Interest Rate: 19.99%
- You're a Canadian resident
- You've reached the age of majority in your province or territory
No Annual Fee: The annual fee is the cost that your credit card provider automatically charges each year to your account to allow you to keep the card account open. There is no annual fee for this card.
No-Interest Grace Period: 21 Days
The grace period is the time you have to pay your balance in full without incurring a finance charge at the end of your billing period.
Set your own credit limit
Your credit limit is set based on your deposit and can range from $500 to $10,000. Your deposit amount will be your credit limit.You can choose your own credit limit and spending power with this card which gives you a lot of flexibility.
90 days Purchase protection
Insures eligible items against theft or damage for 90 days from the date of purchase
Shop and pay online
You can use your credit card to shop online, pay bills and set up accounts online
Visa Worldwide acceptance
You can use your credit card everywhere Visa is accepted in the world. Visa offers a secure and reliable method of payment in 200+ countries and territories.
The Home Trust secured credit card is an excellent credit card that enables those who do not have a good credit score to rebuild and reestablish it.
Almost everyone is approved(No credit, poor credit, bankruptcy and consumer proposal).
To be approved for this secured credit card, the applicants need to provide a security deposit of $500 minimum and be of the age of majority in the province of residence.
This credit card does not offer any rewards but provides a 90 purchase protection to insure eligible items against theft or damage for 90 days from the date of purchase.
Each month Home Trust reports to Equifax and Transunion. This will ensure that your payment and credit history related to your Home Trust Secured credit card is updated with the major Canadians credit bureaus accordingly. You will need to make your payments on time each month to rebuild your credit.
Home Trust will give you back your deposit when you close your account.
The Home Trust secured credit card is one of the best cards in the market that can help you build your credit.
Refresh Financial's Secured Visa Card helps you establish and rebuild your credit and improve your credit score.
Anyone with little or no credit, bankruptcy and consumer proposals can apply.
All you need is a security deposit to get approved. As you use your card and make monthly payments on time, they are reported to the credit bureaus and this builds your credit score.
The Refresh Financial Secured Card combines the premise of the credit builder loan with the same benefits of a credit card. In this case, you are almost guaranteed approval, which cannot be said for other types of secured credit cards. So while it does work like any other credit card, the main difference is that you have to place a security deposit on the card. This works better for many people compared to the credit builder loan as it allows you to use the credit available on the card. It’s an excellent option if you have bad credit and want a card to make online purchases or say secure a hotel room.
The minimum deposit is $200 which is also a bonus as many other secured cards require $500. You can also slowly increase your deposit which in turn increases your credit limit to up to $10,000. However, for the secured credit card you have to also consider the fees. While the interest rate is lower at 17.99% compared to the 19.99% of the credit builder loan, you also have to pay out the following:
- An annual fee of $12.95
- A monthly fee of $3
- $0.10 for every declined transaction
- $5 fee to use an ATM/ cash advance
- A monthly inactivity fee of $2 for every month that you don’t use your card
As far as secured credit cards go, this one tends to come out ahead. It is ideal if you need access to a credit card, can afford the security deposit and intend to pay it back in a timely manner.
Plastk Secured Visa Credit Card Review
The newest and best way to build your credit and get rewarded for it.
Special Offer: Receive 0% Interest Rate on purchases for the first 3 months when you sign up for Plastk Secured Credit Card.
Card Features:
- 17.99% interest rate (which is one of the lowest in the secured credit card market)
- 25-day grace period with no interest
- Free monthly credit score, powered by Equifax*
- Zero Fraud Liability to ease your mind
- Instant Balance Payment via Interac
- APR on cash advance: 21.99%
- Foreign Transaction Fee: 3.50%
- Minimum Age: Age of majority in province/territory of residence
- Minimum Deposit required for approval: $300
- $6 Monthly Maintenance fee
Card Benefits:
- Welcome bonus: new Customers get 5000 Rewards Points - $20 redeemable after 3 months*
- Plastk Reward Points on everyday purchases
- Quick and easy application process
- Simple way to pay
- Cash advances
- Worldwide acceptance
- Accepted at hotels and car rentals
- Easy access to premium rewards
- Helps improve credit score and knowledge
* Cardholder has to be in good standing, reward points redeemable after 3 months
Plastk Secured Credit Card is available all across Canada except Quebec.
Plastk Cash Advances:
You can now send money from your Plastk card to any Canadian credit or debit card, Canadian bank account or Plastk cardholder. There is a fee of $5 for each cash advance.
*Please note, you can send a MAXIMUM of $250 in a single transfer or $500 in a day. If your available limit is LESS than $250, you will only be able to send up to that limit. Available account funds will be shown in your account.
- 2% cashback on transportation, groceries, drinking and eating
- Get 0.5% cashback on any other purchase
- You can exchange money internationally without any exchange fees
- Price matching feature
- Increased load and spend limits
- Free financial coaching from KOHO experts
- All of the features of the Premium plan come with $84 annual fee
- New card designs
KOHO Key Features and Benefits
KOHO comes with certain features and benefits that make it quite unique. Regardless of the version you choose, be it Regular or Premium, you get access to the following features:
- 1% cash back for all your purchases during the first 90 days (you need to use a referral code)
- Accepted worldwide: you can use the KOHO card in any country where VISA is accepted
- You can select your own design and colour combination to personalize your card and make it totally unique
- 0.5% Power Up cashback on any purchase after the first 90 days
- Round-Up feature: KOHO card enables you to round up your purchases in order to maximize your savings
- Comes with no NFS fees
- No interest rate whatsoever
- FX fees just 1.5%: the usual norm is 2.5%
- Easy connection to PayPal and quick online purchases
- Bill payment: you can pay your bills with ease thanks to this feature which integrates with all Canadian utility companies
- You can easily fund your account using e-transfer or direct deposit
- Leverage the joint accounts feature and get a common account with your spouse, family member or close friend
- Compatible with Apple Pay
- Real-time insights and budgeting categories to enable you to stay on top of any unforeseen payment and leverage analytics to save more money
- KOHO is the partner of Peoples Trust, a CDIC and federally regulated bank. This means that your money is safe. In the worst-case scenario of KOHO failure, you'll be able to receive your money via Peoples Trust.
KOHO Pricing
The Regular plan is free of charge. However, it takes around $2-$3 for foreign ATM withdrawals and another 1.5% for exchange rate. You have a daily transaction limit of 15 and an account balance limit of $20k. You can withdraw $600 per day from the ATM, but you get no price matching or free financial coaching.
Author Bio
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.
