Secured VISA Card: Repair Your Credit

You want to build your credit or repair your credit, but you can’t because you have no credit or because you have bad credit. What can you do? – You can get a secured VISA card and then (re)establish your credit by making regular and timely payments. Even if you filed for bankruptcy, credit repair is still possible. You only need someone to give you a chance to prove yourself.

To apply for a Home Trust Secured Visa, please follow the link (the application form will open in a new window):

Home Trust Secured VISA Application – HTML format

How does it work?

One of the best ways to repair your credit is to prove that you can handle credit with a secured VISA card provided by Home Trust.

The Home Trust Secured VISA works exactly like a regular Visa card, except that your credit limit is secured by a cash deposit. You provide Home Trust VISA with a deposit of as little as $500, or as much as $10,000, and you receive a Home Trust VISA card with a credit limit equal to the amount of your deposit. By making regular payments on your secured VISA card, you repair your credit.

You can use your Home Trust VISA card to rent a car, reserve a hotel room, rent a video, or make purchases over the phone or the internet, up to your credit limit. By paying on time, you repair your credit. Simple.

For more details on secured VISA cards – the ways they work and the ways they can benefit your after-bankruptcy credit repair – please visit our Secured VISA Cards – FAQ page that contains answers to frequently asked questions about secured VISA cards.

Join the Conversation

  1. Rhonda A.

    I have been discharged from bankruptcy for close to 2 years now. As soon as I claimed bankruptcy my car broke down and I had to apply for a high interest loan. I have had this loan for over 2 years and have also had an rrsp at this time going as well. Is this helping rebuild my credit? Is there a way to help get a loan to help pay off the car loan I previously have to a lower interest?

  2. J. Douglas Hoyes

    If you are making all required payments on your car loan, and those payments are reported to the credit bureaus, it will help rebuild your credit. An RRSP is not a loan so it does not get reported to the credit bureau, so an RRSP has no direct impact on your credit.

    You could start by getting a copy of your credit report to see how it looks, and then consider approaching the bank where you have the RRSP to see if they will give you a lower interest loan to pay off your high interest car loan.

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