- No-Fee Home Trust Visa Secured Credit Card - Interest Rates
Let's discuss the lowest possible interest-rates for our "No-Fee" secured Visa specifically! Our "No-Fee" secured Visa, created by Home Trust and available here at Dominion Lending, comes with a standard Canadian credit card interest-rate of 19.99%. It's reasonable for a secured-Visa in Canada: we have seen higher! But this 19.99% doesn't have to affect you at all - especially if you're the kind of person that likes to save money. We'll explain...
You're probably checking out our "No-Fee" secured Visa - because you love the idea of not paying any annual credit card fees: and luckily that's the case with this great No-Fee Home Trust Visa: you DO NOT have to pay any regular annual fees! This isn't true with all our Home Trust secured Visas: for example, if you chose our Low-Rate Home Trust Secured Visa Credit Card instead of this No-Fee option - you'd pay an annual fee of $59 - plus an additional $19 for any secondary cards you might add for your spouse or other family member.
But with this No-Fee secured Visa: there are simply NO regular annual fees for your card, or any secondary cards you may get for your spouse/family members! Great right?
So by simply choosing this No-Fee card over the Low-Rate secured Visa - you'll be keeping money in your pocket. But what about this 19.99% interest-rate? Isn't that going to cost you more money in interest payments than the 14.9% that the Low-Rate secured Visa would give you? Not if you avoid interest payments! If you keep paying off your new Home Trust secured Visa - keep paying the balance down to zero - right after you make any payment with it - you could avoid interest payments altogether! Interest rates for credit cards - whether they are high or low - only affect you when you "carry a balance" on your credit card. If you keep paying your balance down to zero - right after you make each purchase, or at least before each monthly bill due-date - the interest-rate won't affect you because there won't be any interest charged!
So the point is: If you hate annual credit card fees - this No-Fee secured Visa credit card is great for you - and don't worry about the standard rate of 19.99% that comes with it - if you don't plan on carrying a large balance on your new No-Fee secured Visa for long periods of time, then this standard rate of 19.99% won't affect you much - and you won't need to pay annual fees to get a lower credit card rate like you would with our Low-Rate Home Trust Secured Visa Credit Card!
Just so you know: any secured Visa, requires a cash deposit - doesn't matter which Canadian bank or credit card company you go to, this is the case! But here at Dominion Lending - we have one of the lowest cash deposit requirements for "easy approval" No-Fee secured Visas in Canada - $500 - which IS refundable if you ever cancel your paid-up Home Trust No-Fee Visa! And you don't have to pay $500 each year - it's just a one-time thing. Also, if you want a higher credit-limit, you can choose to put down a higher cash deposit - all the way up to $10,000 if you want.
Apply today for our great No-Fee secured Visa by Home Trust - simply fill out our No-Fee Secured Visa Credit Card Application right here on our Dominion Lending Centres website!
P.S. To avoid extra annual fees, you'll want to a) Never max out your new No-Fee secured Visa b) Make your monthly minimum payments, if any, on time and in full and c) USE your new No-Fee Home Trust Visa at least once a year - or there could be a fee charged for not using it!