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Home Trust Preferred Visa Card Review
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Home Trust Preferred Visa Card review

Scott Birke

Mar 24, 2025

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Overall rating

First year value

$216

Get this card if you:

  • want to avoid paying any foreign transaction fees
  • want straightforward cash back rewards
  • want to a no annual fee rewards card

Scores by category

Cash Back 3.9

No Annual Fee 3.5

Travel 2.5

At a glance

The Home Trust Preferred Visa is a no-annual-fee credit card that offers cash back on all eligible purchases, with no maximum cash back cap. It also waives foreign transaction fees, making it advantageous for international purchases; however, cash back is not earned on transactions in foreign currencies, and the card is not available to residents of Quebec.

Highlights

$216

First year value

Interest Rates

21.99%

Purchase APR

21.99%

Balance transfer APR

21.99%

Cash advance APR

Eligibility

Good

Recommended credit score

$15,000

Required annual personal income

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. 

Who's it for?

The Home Trust Preferred Visa is ideal for Canadians who frequently travel abroad or shop online in foreign currencies, as it doesn’t charge foreign transaction fees—something that’s rare among Canadian credit cards. It’s also a great choice for anyone looking to save on international purchases while enjoying added perks. If you’re in need of a secured card instead, the Home Trust Secured Visa is worth considering.

Pros and cons

Pros

Pros

  • 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

Cons

Cons

  • No cash back on transactions in foreign currency

  • Not available to Quebec residents

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.

  • Earn unlimited 1% cash back on all eligible purchases
  • No foreign transaction fee
  • Purchase protection

How does the Home Trust Preferred Visa compare

Home Trust Preferred Visa vs MBNA Smart Cash Platinum Plus Mastercard

5% cash back

Welcome Bonus

$492

First Year Value

$417

Annual Value

Welcome Bonus: Earn 5% Cash Back†† on eligible gas and grocery purchases for the first 6 months (until the total gas and grocery purchases in the applicable month reaches $500).

Learn More Apply Now On MBNA Credit Cards' Secure Site

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. You can earn 2% back on gas and groceries and 0.5% back on all other purchases.

That said, unlike the Home Trust card, the MBNA Smart Cash Platinum Plus® Mastercard® has a monthly ceiling on the amount of cash back you can earn. And purchases aside from gas and groceries earn cash back at half the rate of the Home Trust card.

Is it worth it?

The Home Trust Preferred Visa is absolutely worth it if you’re a frequent traveler or online shopper looking for a no-annual-fee card with no foreign transaction fees and cash back rewards. It’s a rare find among Canadian credit cards and offers solid value for those who make purchases in foreign currencies. However, it does come with a few drawbacks that might not suit everyone, so if the card’s limitations don’t align with your needs, it’s worth exploring other options that also eliminate or compensate for foreign transaction fees.
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.

Disclosures:

  •  ‡, ††, ✪, Terms and Conditions apply. 

    This 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 Content editor, Money.ca

Scott Birke is a financial content editor at Money.ca.

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