The Home Trust Preferred Visa is a no-fee credit card for Canadians who want basic cashback rewards without complications. It’s great for local use and travel, offering no foreign transaction fees.
This article shows how to apply, qualify, and benefit from the card. It also explains the key fees, interest rates, and smart usage tips.
Key Features of the Home Trust Preferred Visa
The Home Trust Preferred Visa comes with several benefits that make it a practical option. From cashback rewards to international usage, this card is built for convenience and savings.
1% Unlimited CashBack
This card gives you 1% cashback on all eligible purchases without a cap. That means the more you use it for groceries, bills, and other daily expenses, the more you earn.
Cash advances, balance transfers, and foreign purchases are not eligible. Your rewards are applied automatically to your balance.
This simplifies how you benefit from the card. There are no special categories or rotating offers to track.
No Foreign Exchange Fees
Unlike many other cards that charge 2.5% to 3% on foreign purchases, this card has no FX fees. You save more when shopping online from international stores or traveling abroad.
This makes it a good secondary card for frequent travelers. Whether in-store or online, you won’t be charged extra.
Just note that foreign currency transactions are not eligible for cashback.
No Annual Fee
This card has no annual maintenance cost. You won’t have to spend a minimum amount to keep it free. This makes it ideal for both frequent users and those looking for a backup card.
You still get full benefits without paying anything yearly. That’s rare for a card with no FX fees and cashback.
Purchase Security and Zero Liability
Eligible purchases are protected for up to 90 days against theft or damage. Visa Zero Liability also protects you against unauthorized transactions.
If your card is stolen or misused, you won’t be held responsible. This offers peace of mind whether shopping locally or abroad. Coverage applies automatically when you use the card.
Worldwide Acceptance and Mobile Compatibility
The card is accepted in more than 200 countries and territories. It supports contactless payment and works with Apple Pay, Google Pay, and Samsung Pay.
This makes it easy to pay securely from your phone. You can use it for hotel reservations, too. It’s reliable for both online and in-person use.
Step-By-Step Guide to Request the Card
Applying for the Home Trust Preferred Visa is simple. You can do it entirely online.
How to Apply Online?
Follow these steps to apply:
- Go to the Home Trust website and locate the Preferred Visa Card page.
- Click on “Apply Now.”
- Fill in your name, address, job details, and income information.
- Upload any requested identification documents.
- Review the terms and submit the application.
- Wait for approval by email or mail. You may receive your card in 1 to 2 weeks.
Eligibility and Approval Criteria
Before applying, it helps to know if you meet the basic requirements. This avoids delays and rejection.
Who Can Apply?
To qualify, you must:
- Be a resident of Canada (Quebec residents are excluded).
- Be of legal age in your province.
- Have a good credit score and income stability.
- Provide a valid government-issued ID.
- Not have recent bankruptcies or missed payments.
If you meet these criteria, your chances of approval are strong.
Interest Rates and Fee Breakdown
Understanding the rates helps you avoid surprises. Here are the main fees and charges.
Interest rates:
- Purchase APR: 19.99%
- Cash Advance APR: 19.99%
- Balance Transfers: Not eligible for cashback
These rates are standard for a no-fee rewards card. Try to pay off your balance monthly to avoid interest.
Additional fees:
- Annual Fee: $0
- Foreign Transaction Fee: $0
- Late Payment Fee: $29 to $40, depending on the balance
There are no hidden charges. You only pay late fees if you miss the due date.
Pros and Cons of the Card
Knowing the advantages and drawbacks helps you decide if it fits your needs.
Advantages
This section outlines the key strengths of the Home Trust Preferred Visa. These benefits show how the card can support your daily spending and travel needs.
- No annual or foreign exchange fees
- 1% unlimited cashback on eligible purchases
- Purchase protection and fraud liability coverage
- Mobile wallet support for easy payments
- Strong travel and online shopping support
Disadvantages
Here are a few limitations you should be aware of before applying. This section highlights the most relevant drawbacks of transparency.
- Not available to Quebec residents
- No welcome bonus or promotional rates
- Foreign transactions do not earn cashback
Weigh these factors based on how you plan to use the card.
Tips to Maximize Card Benefits
To get the most out of your Home Trust Preferred Visa, use these practical tips.
Use for Everyday Spending
Focus on paying for groceries, fuel, streaming services, and utility bills. These purchases help you earn cashback quickly. There’s no need to activate categories. It’s automatic and simple.
Avoid Cash Advances
Cash advances do not qualify for cashback. They also start collecting interest immediately. Use your card for purchases only to keep rewards growing.
Enable Auto Pay
Set up automatic payments through your bank. This ensures you never miss a due date. It protects your credit score and avoids late fees.
Track Spending with the Online Portal
Use Home Trust Visa Online to check balances and redeem rewards. You can also view your statements and download records. This helps you budget and stay organized.
Customer Support and Contact Info
If you need help with your application or card use, here are the official contact options.
Home Trust Contact Information
Here is how you can reach Home Trust for questions or support. Use the contact details below to check the status of your card or application.
- Address: 2300-145 King Street West, Toronto, Ontario M5H 1J8
- Phone: 1-877-903-2133 or 416-775-5000
- Fax: 1-888-470-2092 or 416-363-7611
- Email: [email protected]
Support is available by phone and email during business hours.
Disclaimers: Terms and features may change, and each application is reviewed based on creditworthiness. This card is not available in Quebec, and foreign transactions do not earn cashback.
Final Thoughts: Is This Card Right for You?
The Home Trust Preferred Visa is a solid choice if you want simplicity, rewards, and no fees. It works well for people who travel, shop online, or simply want to earn cash back on everyday purchases.
As long as you avoid carrying a balance or using cash advances, it’s a cost-effective card. If you meet the eligibility requirements and want to start saving, applying is easy and worth it.
