Home Trust Preferred Visa Review



Annual Fee


Annual Rewards


Intro Offer


Annual fee


Annual rewards


Intro offer


  • No annual fee
  • No foreign transaction fees
  • 1% cashback on eligible purchases
  • Purchase Security and Extended Warranty protection
  • Accepted at over 24 million locations worldwide
  • Roadside assistance at discounted rates


  • No travel rewards or sign-up bonus
  • Not available to residents of Quebec
  • Limited additional perks compared to other cards
  • Cashback redemption only available in increments of $50
  • Requires a good credit score for approval

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The Home Trust Preferred Visa has earned a 4.46 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).




Interest rates




The highest scoring categories for the Home Trust Preferred Visa are fees and interest.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the Home Trust Preferred Visa the most important factors for scoring this card are its fees and interest.


With the Home Trust Preferred Visa, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Specific Stores1%
All Other Spend1%

Calculating your annual rewards

We estimate that spending $2,000 per month with the Home Trust Preferred Visa would earn $240 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

All Other Spend$240

Our study investigating the value found that each dollar spent on the Home Trust Preferred Visa is worth up to $0.01, depending on how you redeem.

This $240 in rewards value puts the Home Trust Preferred Visa in the bottom 40% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the Home Trust Preferred Visa earns $240 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

SpendThis CardAverage
Above, we’ve calculated the earn rate for the Home Trust Preferred Visa for every spend category and compared it to the average for all Canadian credit cards.
Redemption methodAnnual rewards
Apply to statement credit$240

For an annual spend of $24,000, we estimated annual rewards value at up to $240.

That’s equivalent to a 1.00% return on spending.

The Home Trust Preferred Visa has an annual fee of $0. After deducting this, we predicted net annual rewards of $240.

This puts it in the bottom 50% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.


The Home Trust Preferred Visa has a $0 annual fee.

The average card charges $85. So, the Home Trust Preferred Visa is in the bottom 50% of cards based on the cost of the annual fee.


We manually review the perks of each credit card to determine how they compare to other cards.

The Home Trust Preferred Visa scored a 0.9 out of 5 for perks, putting it in the bottom 30% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Cash Advance19.99%
Balance Transfer19.99%

The average (median) credit card has a purchase interest rate of 19.99% and so the Home Trust Preferred Visa charges {{purchase_interest_diff}} than the average.

For cash advances it costs 19.99% compared to the average of 19.96%.

Testing the Home Trust Preferred Visa with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

InsuranceThis CardAverage
Purchase Protection90 days90 days
Rental Car Theft & DamageYesNo

We scored it 0.0 out of 5 for insurance.

It offers 2 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score725 – 759
Personal Income$15,000
Household Income$0
Annual Fee$0
Extra Card Fee$0
Card typeVisa

We scored it 2.5 out of 5 for approval.

We predict that you will require a credit score of at least 725 to qualify for the Home Trust Preferred Visa, while the average card requires 652 to qualify.

This puts it in the top top 50% of cards by approval difficulty.

The personal income requirements are $15,000, while the average card requires $23,896.

This puts it in the top 30% of cards by the income required to qualify.

The Home Trust Preferred Visa credit card offers a simple yet rewarding cash back program for its cardholders. In this review, we will discuss the earning potential, benefits, drawbacks, and additional information related to this card. This will help potential users decide if it is the right choice for their credit card needs.

Earning potential

With the Home Trust Preferred Visa credit card, cardholders earn 1% cash back on all eligible purchases made on the card. The rewards are automatic and there are no caps or limits to the amount that can be earned.

Unlike some other credit cards, this card does not tier its rewards based on spending categories such as dining, travel, or groceries. Instead, users can enjoy a straightforward rewards system.


  1. No Annual Fee: A significant advantage of the Home Trust Preferred Visa is that it comes with no annual fee. This allows cardholders to fully benefit from the rewards they earn without having to offset the cost of a yearly fee.
  2. No Foreign Transaction Fees: Cardholders who travel or make purchases in foreign currencies can enjoy the added benefit of no foreign transaction fees on their Home Trust Preferred Visa.

    This can save users a significant amount of money on international purchases as compared to other cards that charge up to a 3% fee for each transaction made in a foreign currency.
  3. Roadside Assistance: This card provides its users with complimentary roadside assistance through the Home Trust Preferred Visa Auto Club membership. This added layer of protection can bring peace of mind in case of vehicle troubles while travelling within Canada.
  4. Car Rental Insurance: Home Trust Preferred Visa offers its cardholders car rental insurance, covering potential damages or theft to the rental vehicle. This spares users from having to pay for additional insurance when renting a car, potentially saving money on travel expenses.


  1. Limited Card Acceptance: A notable drawback of the Home Trust Preferred Visa is that it is not accepted at as many locations as other major credit cards, such as Visa or Mastercard. This could potentially limit its usability, especially for those who prefer to use a single card for most transactions.
  2. No Introductory Offers: This card does not come with any introductory offers, such as lower interest rates or bonus rewards points, which may be a disadvantage for those who enjoy taking advantage of initial sign-up offers when acquiring a new card.

Additional information:

The Home Trust Preferred Visa credit card requires users to have a minimum annual income of $15,000, making it accessible to a wide range of income earners.

Overall, this card is a solid choice for those seeking a simple, no-fee cash back rewards system, especially for individuals who travel or make purchases in foreign currencies.

However, it is essential to consider the limitations in terms of card acceptance and the lack of introductory offers, which may narrow the card’s appeal for some potential users.

Interested in other credit cards? If the Home Trust Preferred Visa credit card isn’t perfect for you, you might want to consider the Home Trust Secured Visa (Low Rate). Plus, many Canadian’s that like the Home Trust Preferred Visa like the Home Trust Secured Visa Card, and the Home Trust Secured Visa.


The Home Trust Preferred Visa credit card does not offer a traditional rewards points system. Instead, it provides a suite of benefits for cardholders, such as no annual fee, no foreign transaction fees, and 1% cashback on all eligible purchases.

The cashback is automatically credited to your account on a monthly basis, allowing you to either use it as a statement credit or redeem it in other ways at your discretion.

With this card, you don’t need to worry about tracking points or redeeming them for specific rewards, as the 1% cashback simplifies the process.

The Home Trust Preferred Visa credit card is an excellent choice for Canadians who travel frequently or make purchases in foreign currencies. This credit card stands out due to its 0% foreign transaction fees.

This means that you will not be charged any additional fees when making purchases in a non-Canadian currency, which can save you money compared to other credit cards that may charge a 2.5% to 3% fee on foreign transactions.

The Home Trust Preferred Visa credit card does not have a minimum income requirement, making it accessible for a wider range of applicants.

Key benefits

  • Annual purchase rate (APR): 19.99%
  • Cash advance rate: 19.99%
  • Balance transfer fee: 3% of the transaction amount or minimum $7.50
  • Grace period: 21 days from statement date
  • Minimum credit limit: $500
  • Interest-free period on new purchases: Up to 21 days
  • Cashback categories: Gas, groceries, restaurants, home improvement, etc.
  • Insurance coverage: Inclusive of common carrier accident, purchase security, and extended warranty coverage
  • Chip and PIN technology for added security
  • Online account management and customer support available

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