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How Secured Visa Credit Cards work in Canada from Home Trust - obtained through Dominion Lending Centres - a Canadian Lender

Ever wondered how "Secured Visa Credit Cards" in Canada work? Maybe you've heard about 'secured Visas' but don't see yet how they're any different from pre-paid, debit or gift-card credit-cards? We understand! There is a lot of confusion about which type of credit cards are the 'real deal' and which ones aren't quite 'real/regular' credit cards - so we typed this little article to clear some things up for you.

First off, here at Dominion Lending Centres - a Canadian-wide Lender (we do mortgages too by the way) - we offer 2 types of Home Trust "Secured Visa Credit Cards" to Canadians like you. Our Home Trust secured Visas are very easy to get approval for - which isn't the case at every Canadian financial institution or credit card company - so we're proud to offer Home Trust's line of secured Visas specifically.

Our Home Trust secured Visas work JUST like regular Visa Credit Cards: yup - there's no difference between them. They WILL help you build your credit score/history - so when a mortgage lender (like us) does a credit bureau for you in the future when you might want to get mortgage - our "Home Trust Secured Visas" WILL "count" on that credit bureau! This is good news, as pre-paid, debit, and gift-card credit-cards will NOT help you build a credit history - sometimes people use the titles 'pre-paid' and 'secured' interchangeably - and they shouldn't because of this huge difference

Also when shopping online, or offline, or when using your new Visa Credit Card to pay reoccurring bill payments - our Home Trust secured Visa credit cards WILL work just like regular Visa credit cards! There's almost nothing more annoying then being ready to place an order for items online - only to realize the new "debit credit-card" you got doesn't work everywhere yet! So these secured Visas are the 'real deal' - the let you use them like regular Visa credit cards!

You should also know that we offer both a "No-Fee" secured Visa and a "Low-Rate" secured Visa - both are equally easy to get approved for (even with bad credit, or if you're just out of bankruptcy or even if you're still in consumer proposal). Our No-Fee option frees you from all annual fees (as long as you use it once a year) and our Low-Rate option gives you an ultra-low secured Visa credit card rate of 14.9% - which is good if you plan on carrying large balances on your new Home Trust secured Visa for long periods of time.

Finally, although it may be obvious, all secured Visa credit cards (at any company/bank) require a cash deposit of some kind. We're proud to have one of the lowest cash deposit requirements in Canada for 'easy approval' secured Visas: only $500 - which of course IS refundable if you ever decide to cancel your paid-up Home Trust Visa Credit Card. And yes, you can put down a larger cash deposit if you want to - all the way up to $10,000 - which might be best if you plan on using your new credit card for larger bills or purchases. (P.S. you can always start with the lowest cash deposit of $500 - and increase your deposit later on if you want to).

Apply online easily for either our Low-Rate Home Trust Secured Visa Credit Card or our No-Fee Home Trust Secured Visa Credit Card today - right here on this Dominion Lending Centres website!

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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.