Review: Home Trust Preferred Visa

by Barry Choi February 7, 2018 / 43 Comments

Home Trust has recently improved their credit card portfolio and have introduced the Home Trust Preferred Visa which is easily one of the best travel credit cards on the market. What makes it so appealing is the fact that it has no foreign transaction fees and no annual fee. The downside is that this card not available to residents of Quebec.

If you’re not aware, most traditional credit cards charge you a foreign transaction fee of 2.5% on top of the spread whenever you make a purchase in a foreign currency. This may not sound like a lot, but that fee adds up to quite a bit over time.

Chase used to have multiple credit cards with no foreign transaction fees, but they’re closing all accounts as of March 15, 2018. The Home Trust Preferred Visa now becomes the ideal choice for travellers or anyone who makes frequent purchases in foreign currencies.

The additional benefits included are limited, but considering this is a card with no annual fee, one could argue that they’re quite generous. The 1% cash-back applies to all purchases and has no limit to how much you can earn.

You’ll also get a Roadside Assist membership at no extra charge which is a nice benefit considering there aren’t many credit cards that offer this feature. Emergency roadside services covers you 24 hours a day, 7 days a week in North America. The towing service will take you to any garage as long as it’s within a 5km radius. 5L of gas gets delivered right you at no charge if you run out, and there’s also included tire service, battery boost, and lost key lockout assistance.

Home Trust Preferred Visa


  • No annual fee
  • No foreign transaction fee charged on purchases abroad
  • Earn 1% cash back on all purchases, with no limit on the amount you can earn

Additional benefits included

  • Purchase Security Insurance
  • Visa Auto Rental Collision/Loss Damage Insurance
  • Emergency card and cash replacement
  • Guaranteed hotel reservations
  • The Visa Zero Liability Policy for protection against fraud

Purchase Security Insurance and Visa Zero Liability Policy for protection against fraud are usually standard benefits with most credit cards, but Visa Auto Rental Collision/Loss Damage Insurance tends to only be included with premium cards. In other words, you politely decline extra insurance if you’re renting a car.

There are a few additional points to note about the card. Currently there is no TAP payment option, but this shouldn’t be a big issue since TAP is not a big feature outside of Canada. You’ll also be assigned a 4-digit PIN with no ability to change it. That being said, Home Trust has confirmed that you’ll be able to change your PIN later this year. Finally, there is a limit of 10 authorized transactions per day on the card.

Also Read


  • intraland

    Are you able to look into if this card has max 10 pending transactions per day? It has been brought up in the comments from one of your similar articles: https://www.ratehub.ca/blog/3-credit-cards-with-no-foreign-exchange-fees/
    It doesn’t seem to be explicitly stated anywhere (unless hidden deep within the T&C? Although I read through it and didn’t come across it either). Thanks.

    • Ratehub

      Hi @intraland:disqus ,

      Sorry for the delay in getting back to you. We can confirm that the card has a max of 10 authorized transactions per day. We’ve updated the post to reflect this as well.

      Thanks!

  • Halifax Steve

    I applied for this card last February. It is now almost April. I have tried contacting them a number of times but without success. There are conflicting wait times, one says up to 6 weeks. I have called and been disconnected. Do i really want to do business with a financial institution with this lack of service?

    • Ratehub.ca

      Hi Halifax Steve,
      We’re sorry to hear about the experience you had. Have you received the card you applied for yet?

      • Halifax Steve

        Yes, my bad – seems my application had never been sent.

        • Ratehub.ca

          We’re glad it was resolved and you were able to get your card.

  • Shaunee

    Where can I find what exchange rates Home Trust Preferred uses in their currency conversions?

    • Ratehub.ca

      You should contact Home Trust directly to get information about the exchange rate they use for currency conversions.

    • Amit Desai

      AFAICT, credit card issuers dont have separate exchange rates. Home Trust will use the Visa exchange rates (which you can easily avail online even for a particular date). Both Visa and Mastercard rates are very close to spot rates.

      • Ratehub

        Thanks for replying Amit! That reflects our research as well – Home Trust uses the Visa exchange rate.

  • Lee

    Applied for my card in January and received it in March. Very disappointed to receive the credit cards for myself and my husband and to see that we had been issued the same account number. Every other financial institution I have dealt with has issued cards with different numbers, so if one card is compromised the other is still usable.

    • Ratehub.ca

      Hi Lee,
      We’re sorry to hear about this situation. You should contact Home Trust directly – they will be able to help clarify any issues with your application so that you and your husband can get the arrangement you desired.

  • Ratehub.ca

    Hi Shaunee,
    You should contact Home Trust directly for that information. You can reach them at 1-888-281-7793, Monday to Friday, between 8 am and 8 pm.

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

  • Stella

    I applied for Home Trust Preferred Visa in early April, was asked to provide additional info in mid-May and I’m still waiting for a card or a response. I called and was basically told that I just needed to wait longer (and they would give me a response whether or not it’s approved).

    My friend applied after me and was sent a card within a reasonable timeframe. Meanwhile, I’m paying FX fees for large purchases (the reason for which I had applied for this card). I miss my Amazon Chase Visa…

    • Ratehub

      Hi Stella,
      We’re sorry to hear about the delays you’ve been encountering. We have heard reports from some customers of delays in the application and approval process for this card. We hope that you receive your new card soon.

  • Randy Kilpatrick

    Anyone applying or who has this card needs to be aware of a daily transaction limit !!! This is not listed in any of their literature nor was I made aware of it by anyone I have spoken to on the phone. Apparently you only have 10 attempts per day, successful or attempted transactions. So if you are in the US as we are and are shopping separately, have a meal and purchase gas, once you hit the limit of 10 both cards shut down. Of course customer service may able to increase that I was told but it’s Saturday and they aren’t open weekends. I guess you do save on foreign transaction fees because you can’t make any transactions.

    • Ratehub

      Hi Randy,
      We’re sorry if you encountered an issue with this card. Thank you for sharing your feedback on your experience on this.

  • Have they added the ability to change pin numbers? I have their secure card (blue) and I was told on the phone the ability isn’t there.

    • Ratehub

      Hi John,
      For any questions about the features of the Home Trust Preferred Visa, we recommend contacting Home Trust directly. You can reach their credit card customer service department at 1-888-281-7793.

  • CocoTheParrot

    Please be patient with Home Trust. They have been bombarded with applications since Chase/Amazon killed their Visa card. Mine took 17 weeks. I love this card with the four Roadside Assist I can now cancel my CAA/AMA $84/year card.

    • Ratehub

      That’s fabulous news Coco! We’re so glad to hear that you are benefiting from your Home Trust card!