Hi there. I've been looking around the site and I'm just wondering, what's the difference between a HomeTrust Secured Visa and the secured cards offered by Capital One? I noticed that Capital One has an annual fee but the security deposit is very minimal (as low as $75) while the HomeTrust Secured Visa requires a deposit of $500.

For that matter, how would you benefit from a HomeTrust Secured Visa
as compared to the Capital One's secured cards?

I asked the customer service rep which type of people were applying for the HomeTrust Secured visa. He said it was mostly people who were just emerged from bankruptcy and those who were working through a consumer proposal.

I thought that was interesting in so much as it was coming from the guy who processes the credit cards... He also said it wasn't unusual from people to come up with $1000-2000 in cash to put down as a security deposit . I thought that wouldn't be the case since the people were broke... Good to know.

So... if you're just emerging from bankruptcy and /or doing a consumer proposal or debt settlement, the HomeTrust Secured Visa is a good card for you.

I just did a nice interview with HomeTrust Visa... I'll post that shortly with the transcription of the conversation.... the customer service rep answered alot of questions regarding the HomeTrust secured visa.

I think you'll find it interesting.

They also need to get rid of their monthly fees.

I have a link for HomeTrust... they're supposed to be lowering their rates from

$1000 deposit down to $500.

This is supposed to help their signups.

If you cannot go with one of the major banks then capital one is the best one out there and you can get approved for as low as $300.00 deposit. If you notice all the secured credit companies like capital one, hometrust and horizon will only give back your money if you close your account.

If you can I would go with one of the major banks like scotiabank, td, rbc or cibc for a secure card because they will return your deposit after a certain point if your in good standing without closing your account. I also like the fact you can get a secured card with the major banks with a low interest rate.

I think you need to look over this chart before you decide to do business with Hometrust Visa. The fees for this card are ridiculous.

http://www.hometrust.ca/securedvisa.aspx

http://www.hometrust.ca/securedvisa.aspx

http://www.hometrust.ca/securedvisa.aspx

good thing to know the following information in this thread. well basically, this Home Trust Visa secured credit card is user-friendly

Thank

Nice to have you back.