Credit Cards

Preferred Visa Card from Home Trust

  • Last Updated:
  • Jan 18th, 2018 10:35 pm
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[OP]
Newbie
Mar 3, 2014
47 posts
14 upvotes
Toronto

Preferred Visa Card from Home Trust

I have mortgage with Home Trust. Today I received an offer in the mail to get a Preferred Visa with 1 % cash back, no annual fee and Roadside Assistance at no extra cost.
It says benefits like this and then it mentions, special offer : a pre-approved Preferred Visa * Card.
Then at the end it is asking me to apply for this card, either by mail, by phone or online. I checked the form send in mail, it has my consent to check credit bureau.
I checked online and it is also asking for all information and asking to apply for this card.
I am confused if it is pre approved or not ?
And, is it good card to add on my credit utilization ?
Thread Summary
Application link: https://visa.hometrust.ca/apply/preferred/en

Road side assistance is @ 1-877-585-3232.
4 service calls per year
5km limit + "around $3" per extra km
Covered in Canada and US
winching / boost / key service / gas delivery / tire change are covered
If you have a supplementary card, that person is covered as well, though the rep had no details about the availability of the supplementary card.
This product is currently not available to residents of Quebec.
775 replies
Deal Addict
Apr 17, 2014
1229 posts
590 upvotes
Ottawa ON
Pre-approved is not guaranteed. Companies generally send pre-approved letters to people who they believe may be approved after credit verification while other companies send them in masses to anyone who has had a product with them in the past or current. You will always need to provide personal information that is up to date as well as consent for a credit verification.
Sr. Member
User avatar
Sep 24, 2006
556 posts
42 upvotes
Guelph, On
my husband had the same offer last year and he was pre approved - but I remember he was pre approved because of the mortgage he had with them.
[OP]
Newbie
Mar 3, 2014
47 posts
14 upvotes
Toronto
triumpher wrote:
Jan 20th, 2015 12:44 pm
Any One ? I need help.
So would that be a hard hit or soft hit on my credit check ? Any idea?
[OP]
Newbie
Mar 3, 2014
47 posts
14 upvotes
Toronto
anastasia1009 wrote:
Jan 20th, 2015 2:33 pm
my husband had the same offer last year and he was pre approved - but I remember he was pre approved because of the mortgage he had with them.
I too have a mortgage with Home Trust, the letter says that I am getting this because I am loyal customer of Home Trust. It also says I am pre - approved. The only part makes me think is they ask me to apply ( instead of accepting it, generally pre - approved offers have call of action as accepting the offer and not applying). And, in the paper application as well as online application both requires my personal information plus consent to check credit bureau.
[OP]
Newbie
Mar 3, 2014
47 posts
14 upvotes
Toronto
MontrealBonjour wrote:
Jan 20th, 2015 2:18 pm
Pre-approved is not guaranteed. Companies generally send pre-approved letters to people who they believe may be approved after credit verification while other companies send them in masses to anyone who has had a product with them in the past or current. You will always need to provide personal information that is up to date as well as consent for a credit verification.
So would that be a hard hit or soft hit on my credit check ? Any idea?
Deal Addict
Apr 17, 2014
1229 posts
590 upvotes
Ottawa ON
triumpher wrote:
Jan 20th, 2015 3:08 pm
So would that be a hard hit or soft hit on my credit check ? Any idea?
Hard hit, even if it's secured.
Member
Sep 20, 2013
259 posts
99 upvotes
Mississauga
I was offered this card when I got my mortgage with hometrust last year. I didn't get a hard hit on my credit score but may be they used the same score as of mortgage one. I got the card within 3 months of getting a mortgage.
[OP]
Newbie
Mar 3, 2014
47 posts
14 upvotes
Toronto
UPDATE : I called couple of times and figured out. This is actually not pre approved. Credit bureau must be done in order to get the card. This is one the misleading offer from Home Trust Company.
What I believe is having mortgage with them in good standing, they offer it saying that it's pre approved as they most likely won't disapprove it ( even if someone's rating is little lower than usual).
Newbie
Oct 24, 2015
33 posts
2 upvotes
Concord, ON
this credit card is actually quite good, no annual fee, 0% foreign transaction fee, roadside assistance, 1% cashback
Member
Aug 5, 2012
208 posts
31 upvotes
bluejaysrocks wrote:
Jan 9th, 2016 8:52 pm
this credit card is actually quite good, no annual fee, 0% foreign transaction fee, roadside assistance, 1% cashback
If the roadside assistance is similar to CAA roadside assistance, then this would be attractive. A basic CAA membership costs $75.
Deal Addict
User avatar
Aug 4, 2003
2452 posts
920 upvotes
triumpher wrote:
Jan 27th, 2015 3:42 pm
UPDATE : I called couple of times and figured out. This is actually not pre approved. Credit bureau must be done in order to get the card. This is one the misleading offer from Home Trust Company.
What I believe is having mortgage with them in good standing, they offer it saying that it's pre approved as they most likely won't disapprove it ( even if someone's rating is little lower than usual).
Nothing new with this definition of pre-approval, if you want to see it happening on mass scale then go see Tangerine MasterCard thread. Pre-approval these days just meals pre-approved limit should they choose to accept you. They're doing a hard check so there is a slight possibility of rejection should your credit record be less than stellar than compared to when they soft-queried it.

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