The Home Trust Preferred Visa is a straightforward credit card with surprising utility. Credit card holders know there are few perks that work better in tandem than cash back and no annual fee, and this Home Trust Visa card provides both. The Home Trust Preferred Visa also offers additional savings for those who travel overseas or do a lot of online shopping in foreign currencies.

This Home Trust Visa is one of the few Canadian credit cards that doesn’t charge foreign transaction fees, and it includes some other added perks that make it even more worthwhile. Those looking for a secured card instead should consider the Home Trust Secured Visa.

Pros and cons



  • No annual fee

  • 1% cash back on all purchases with no cap

  • No foreign transaction fees

  • Purchase protection included

  • Ideal for frequent travelers and online shoppers



  • No cash back on transactions in foreign currency

  • Not available to Quebec residents

Home Trust Preferred Visa Cashback structure

Home Trust Visa cardholders will earn cash back at a competitive rate of 1% on all eligible purchases1, with no maximum cash back cap. The cash back you accumulate in a given year is automatically applied against the card balance in February of the following year.

Notable perks

  • $0 annual fee
  • 1% cash back1 on all eligible purchases
  • 0% foreign transaction fee
  • Purchase protection

This Home Trust Visa's triple threat of no annual fee, no foreign transaction fees, and cash back is an enticing combination, making this card a definite asset for those who travel frequently and want to keep unnecessary expenses to a minimum.


  • Cash back is not earned on transactions in foreign currency
  • Not available to residents of Quebec

How does this Home Trust Visa compare?

Annual fee
Welcome offer
5% cash back on gas and groceries for first 6 months†† (max $150 cash back)
Regular CAD cash back rates
Earn 1% cash back1 on every eligible purchase you make with no cap on your annual cash back earnings
2%‡ on gas and groceries; 0.5%‡ on everything else
Foreign currency cash back rates
Same as above
Foreign transaction fee
Regular interest rates
Purchases 21.99%; Cash Advances: 21.99%
Purchases: 19.99%; Cash Advances: 24.99%

The Home Trust Preferred Visa offers a rare combination of benefits: It charges neither an annual fee nor foreign transaction fees, while earning a respectable level of cash back on purchases at home in Canada. Though no other card in Canada offers this exact mix of features, there are other cards that have their own variations of these perks, outshining the Home Trust card in some areas and underperforming next to it in others.

The MBNA Smart Cash Platinum Plus® Mastercard® doesn’t waive foreign transaction fees, but it does offer hefty cash back rates on gas and groceries, with its regular 2% rate‡ in those categories outshining the max 1% that the Home Trust card earns. That said, unlike the Home Trust card, the MBNA Smart Cash Platinum Plus® Mastercard® has a monthly $25 ceiling on the amount of cash back you can earn at its 5%†† and 2%‡ rates. And purchases aside from gas and groceries earn cash back at half the rate of the Home Trust card.

Who is this Home Trust Visa card for?

Travellers and online shoppers who want the tri-pronged perk of no annual fee, no foreign transaction fees, and cash back will love the Home Trust Preferred Visa for its simplicity and efficacy. Despite the value of its comprehensive approach to travel savings and extra privileges, however, the card also inhibits certain cardholders. Those who are turned off by the card’s aforementioned downsides should consider Canada’s other credit cards that either eliminate or make up for foreign transaction fees.

‡, ††, ✪, Terms and Conditions apply

MBNA Smart Cash Platinum Plus® Mastercard® offer is not available for residents of Quebec. For residents of Quebec, please click here.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

Scott Birke Finance editor,

Scott Birke is a finance editor at


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