Credit Cards

Preferred Visa Card from Home Trust

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  • Jan 17th, 2018 7:56 am
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Apr 24, 2017
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vkizzle wrote:
Jan 9th, 2018 4:05 pm
No notifications, just a suprise mail with the PIN# around the 2-3 week mark; followed by the card in another 1-2 weeks.
It reached the ‘cap’ for 2017. Hopefully HT reopened the gate for 2018!!! Praying now...
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EdisonL299 wrote:
Jan 9th, 2018 4:35 pm
It reached the ‘cap’ for 2017. Hopefully HT reopened the gate for 2018!!! Praying now...
Praying for you too my brother.
We need some decent no FX fee cards here in Canada.
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Feb 17, 2017
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vkizzle wrote:
Jan 9th, 2018 4:36 pm
Praying for you too my brother.
We need some decent no FX fee cards here in Canada.
Hopefully with the launch of companies like Revolut (prepaid 0% forex card) in Canada (which is supposed to happen in the first half of this year), it'll push the credit card companies to compete.
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CanadianSpruce wrote:
Jan 9th, 2018 4:58 pm
Hopefully with the launch of companies like Revolut (prepaid 0% forex card) in Canada (which is supposed to happen in the first half of this year), it'll push the credit card companies to compete.
But chances are it'll end up like all other smaller competition... gets bought out by incumbent, then replaced with their products or shut down. Look at JPMC and MBNA.
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ToniCipriani wrote:
Jan 9th, 2018 5:26 pm
But chances are it'll end up like all other smaller competition... gets bought out by incumbent, then replaced with their products or shut down. Look at JPMC and MBNA.
Maybe but I'll try and be optimistic Face With Stuck-out Tongue And Tightly-closed Eyes I'm lucky personally in that I can use any Canadian Visa or MasterCard and only pay a 1% forex fee already.

Only a couple of years ago basically no cards in the UK were forex free and competitors like Revolut came out and now about half the cards (mainly credit but some debit as well) on the market has no forex fee.
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That coming into the market wouldn't change things. It's still a drop in the bucket of things. I think it would take 2 major credit card providers to go down the no fx fee road to have wider change... but that's just me.
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joshnet wrote:
Jan 9th, 2018 5:33 pm
That coming into the market wouldn't change things. It's still a drop in the bucket of things. I think it would take 2 major credit card providers to go down the no fx fee road to have wider change... but that's just me.
I think half the problem is that Visa/MC charge the banks around 1% for any foreign transaction, so if a bank drops its forex fee and still pays rewards it could potentially be losing money on the transaction. This isn't as big of an issue in Europe as, one, many countries all use the same currency and, two, the networks don't charge the fee to issuers for transactions within the European Economic Area. They can take the hit on the smaller amount of non-eu transactions.

Admittedly the banks could just charge a 1% forex fee. I doubt many would bother switching or using other cards, if that was all they were being charged.
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i apologize for not reading the entire thread and have a question.

I am a amazon visa cardholder and with the uncertainty of its future wanted to explore other options. Rogers mastercard has the option like the amazon card whereby as long as you pre load the card (starting off with a zero balance ) with a X amount of $ you land in another destination withdraw the equivalent of the X amount in local currency and pay a nominal charge and be done with it. is this "feature" available on this card.
TIA.
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everylittlecent wrote:
Jan 10th, 2018 4:25 pm
i apologize for not reading the entire thread and have a question.

I am a amazon visa cardholder and with the uncertainty of its future wanted to explore other options. Rogers mastercard has the option like the amazon card whereby as long as you pre load the card (starting off with a zero balance ) with a X amount of $ you land in another destination withdraw the equivalent of the X amount in local currency and pay a nominal charge and be done with it. is this "feature" available on this card.
TIA.
The procedure is called "front-loading" in the churn world. Loading your card so that you don't fall into a credit balance and trigger the interest charges even after the cash advance done in another place.

Rogers card does not have that feature. It would be the no foreign transaction fee. Notice the wording is on "purchases in a foreign currency." Unforunately, effectively buy cash is not an actual purchase.
On eligible purchases if account in good standing. Not applicable to cash advances, balance transfers, fees, interest, returns or payments. Cash back rewards earned based on purchase price only (excluding any associated transaction fees). Transactions billed in Canadian currency. Foreign currency transactions are converted to Canadian dollars at the Mastercard International rate on the date the transaction is posted. The rate applied to debits will be different than the rate applied to credits (rates established by Mastercard International and subject to change from time to time).time to time).
The fee you speak of is the Cash Advance Fee, on this Home Trust card it's 1.5% of the withdrawn balance, $5.50 CAD Minimum maximum of $45.00 I believe. And yes, this card is able to do it.
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ProfessorChaos wrote:
Jan 10th, 2018 7:48 pm
The procedure is called "front-loading" in the churn world. Loading your card so that you don't fall into a credit balance and trigger the interest charges even after the cash advance done in another place.

Rogers card does not have that feature. It would be the no foreign transaction fee. Notice the wording is on "purchases in a foreign currency." Unforunately, effectively buy cash is not an actual purchase.



The fee you speak of is the Cash Advance Fee, on this Home Trust card it's 1.5% of the withdrawn balance, $5.50 CAD Minimum maximum of $45.00 I believe. And yes, this card is able to do it.
Thanks for the info. I prefer to have a visa to replace the amazon to supplement my Cap one so will apply for this.

regarding your comment about the rogers MC not having this front loading feature.
rogers-platinum-mc-1-75-cb-4-net-1-50-f ... 969993/14/
post 202 . looks like i misread post 202 and assumed that rogers did have this feature thanks again.
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EdisonL299 wrote:
Jan 9th, 2018 4:35 pm
It reached the ‘cap’ for 2017. Hopefully HT reopened the gate for 2018!!! Praying now...
The application form is still there. So what does "reached the cap" mean? They will reject all incoming applications until they re-open the "gate"?
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Aznsilvrboy wrote:
Jan 10th, 2018 11:11 pm
So what does "reached the cap" mean? They will reject all incoming applications until they re-open the "gate"?
Some people with good credit ratings got rejected without explanation. As a result there's a theory on RFD that HT has some sort of "cap" or "quota" on the number of new cards they issue. But it's only a theory. AFAIK there's no, um, credible evidence to prove it.
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Aznsilvrboy wrote:
Jan 10th, 2018 11:11 pm
The application form is still there. So what does "reached the cap" mean? They will reject all incoming applications until they re-open the "gate"?
Only way to know is apply and update this thread.
If they continue to reject those with good credit history, then it's a fair assumption.
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Aznsilvrboy wrote:
Jan 10th, 2018 11:11 pm
The application form is still there. So what does "reached the cap" mean? They will reject all incoming applications until they re-open the "gate"?
vkizzle wrote:
Jan 11th, 2018 8:15 am
Only way to know is apply and update this thread.
If they continue to reject those with good credit history, then it's a fair assumption.
A real possibility, is they may not like people with lots of available credit compared to their income.
So you may have good, great or even excellent credit history, but have far too much available credit already, so they decide they don't want you.
I think this is a more logical theory than app quotas.
If they wanted to restrict the amount of applicants, they could just kill the application page in 10 seconds.
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Hopefully the person who reviewed my application saw I had Amazon Visa and understood I needed this card to replace that. Keep praying...
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