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Building Credit FAQs for Low-Rate Secured Visa Credit Cards by Home Trust - from Dominion Lending Centres for Canada

Looking to build your credit with a new Canadian credit card but have a lot of questions? No problem! Check out or faqs below to learn answers to questions Canadians ask us a lot here at Dominion Lending Centres about "Secured Visas" from our friends at Home Trust, and about our Low-Rate secured Visa credit card in particular. Just click the question below that you want to learn the answer to, and the link will take you down the page:

Do your secured Visa credit cards like your Low-Rate Visa, help me build a credit history from scratch?

Yes: all of the secured Visa credit cards we offer here at Dominion Lending are created by our lending friends at Home Trust Company, and they ALL allow you to build a credit history here in Canada! Even from scratch! Here at Dominion Lending we've encountered a lot of Canadians who have found it hard to apply for a first credit card - simply because they don't have a 'credit history' yet - and they feel like they're on a hamster wheel! That's why we're proud to offer a "Low-Rate" version of our secured Visa credit cards by Home Trust: it is not only easy to get approved for, and allows you to build a credit history, but offers you a great low Canadian interest-rate of 14.9% - which helps you save money on interest payments in the long run - especially if you plan on carrying a balance on your new secured Visa from time to time!

I got a Canadian pre-paid Visa credit card once and thought it was building credit for me, only to find that it didn't show up on what they call my 'credit card bureau' - will this Low-Rate secured Visa credit card show up on that 'credit card bureau'?

Yes: we've encountered a few people here in Canada that were misinformed about "pre-paid" credit cards: "pre-paid" credit cards specifically cannot help you build a credit history, because they do not show up or 'count' on your credit bureau. BUT - our Low-Rate secured Visa credit card by Home Trust WILL indeed show up on your credit bureaus - it WILL help you 'build credit' from scratch - so don't worry - if you're looking for way to start building credit, you are reading about the correct Canadian secured Visas! They're really easy to get approved for to: these Home Trust secured Visa options anyway: even if you have no credit history, bad credit, have recently been discharged from bankruptcy or are currently in consumer proposal - this secured Visa credit card is still an option for you!

Do secured Visa credit cards help me build credit to be able to get a mortgage someday? Or do they only build credit for me to to be able to get other credit cards?

This Low-Rate secured Visa credit card and our other secured Visas DO help you build credit to be able to get a mortgage someday: it's not like they just help you build credit for other types of loans - they help with building credit for mortgages too! This is great news for Canadians who have found it hard to get a first credit card - whether it's because they've never borrowed before or because they ran into a bad credit situation. The Home Trust secured Visa credit cards that we offer here at Dominion Lending are very easy to obtain: and work JUST like regular Visa Credit Cards - they build credit scores and credit histories JUST like the regular Visas!

Do I only need one credit card to build credit - or should I look at getting an additional credit card down the road after I get this Low-Rate secured Visa credit card?

Getting a secured Visa credit card is a GREAT start to building credit in order to get a home by a mortgage or to build credit for other loans you want to get in the future. Don't go trying to apply for tons of credit cards at once - starting with our easy approval "Low-Rate secured Visa" by Home Trust is a smart choice. Once you've used it well for 6 months have: kept your payments up, made them on time, avoided maxing out your new credit card, and actually used it (you can't build credit unless you actually use your new Home Trust secured Visa - it's odd but that's how all credit cards and credit building works) - then contact us about getting one of our regular Dominion Lending Centres Visa Credit Cards too - we'll let you know where things are at for you credit-wise and what kind of credit card you should/could get next. P.S. we do mortgages too - so we're here to advise you on your mortgage needs as well!

How can I start building credit with a Low-Rate secured Visa credit card by Home Trust through Dominion Lending Centres?

It's easy to start building credit from scratch with a new Home Trust "secured Visa" from us - Dominion Lending Centres! All you have to do is:

  • Apply Online for a Home Trust Low-Rate Secured Visa - making sure you have at least a $500 cash deposit on hand: ALL secured Visa credit cards require a cash deposit of some kind, and our low cash deposit of $500 here at Dominion Lending Centres is one of the lowest in Canada.
  • Start using your new Home Trust Low-Rate secured Visa credit card: it might sound silly - but if you don't actually use your new secured Visa - you won't actually start building a credit history! Just use it regularly - here and there - to purchase things you have the cash for already: like some grocery items each week. Then promptly pay off your credit card and use it again. Use the power of online banking to make this easy for you: all of our Home Trust secured Visa credit cards can be hooked up to your online bank account for easy bill payments!
  • Remember: anytime you carry a balance on your new Home Trust Low-Rate secured Visa, you'll be charged interest payments - so either keep your balance paid to zero to avoid interest payments OR make sure to make your monthly minimum payments on time! You want to build a 'good credit history' - so make sure to make your payments on time and in full: and don't max out your new credit card!

How do I apply for your Low-Rate Secured Visa? Do you have an online Canadian credit card application here at Dominion Lending?

Applying for a new Home Trust "Low-Rate Secured Visa Credit Card" with us here at Dominion Lending, is easy! All you have to do is fill out our short online credit card application: Low-Rate Home Trust Secured Visa Credit Card Application - and make sure to have a $500 minimum cash deposit available - yes: this Home Trust Visa has to be secured by cash (just like any Canadian secured Visa credit card would) - and we have one of lowest cash deposit requirements thanks to Home Trust, PLUS the added benefit of an 'easy approval' process - which other banks and credit card companies don't necessarily have! P.S. Don't worry: this $500 is refundable if you ever decide to cancel your paid-off Home Trust secured Visa!

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Please Note: All Visa credit card offers, credit card or mortgage rates, Visa Rewards, and any other products, offers, perks/deals, and information on this website is subject to change without notice.

Any Canadian in any Canadian province is welcome to apply for our Dominion Lending Mortgages. When it comes to our easy-approval "Home Trust Visa Secured Credit Cards" for bad-credit - all residents of Canada are welcome to apply except for the residents of Quebec at this point in time. Thank you for your understanding.

Approval for our Dominion Lending Mortgages or Home Trust Visa credit cards cannot be guaranteed. Applicants must be Canadian and the age of majority in their province of residence, which is 18 in Alberta, Manitoba, Ontario, Prince Edward Island, Quebec and Saskatchewan, and 19 in British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, and the Yukon.