A secured credit card is a product in which the security deposit you provide is equal to your credit limit. It works just like any other credit card. You are required to make regular monthly payments over and above the security deposit because this is not a "prepaid" card.

Home Trust reports your file to the credit bureau on a monthly basis. Your file is updated and your credit history begins. Both the primary applicant's and the co-applicant's credit bureau can be updated.

You can increase the limit on your card by sending additional funds (personal or personal certified cheque, money order or bank draft) drawn on a Canadian Financial Institution to Home Trust and clearly indicating that you are requesting a credit line increase.

People who are currently in bankruptcy do not qualify.

If you have never applied for credit in Canada, you probably do not have a credit file under your name at the credit bureau. If that is the case, then you may be required to provide documents that verify your address, date of birth or Social Insurance Number (a copy of your driver's license, a copy of a current bill, or a copy of your health card/SIN card).

Attach a cheque made payable to "Home Trust Company" (personal or personal certified cheque, money order or bank draft from a Canadian Financial Institution) to your application form and mail it to:

Home Trust Company
Attn: Visa Department
145 King Street West, Suite 2300
Toronto, ON M5H 1J8

NOTE: We will not accept cash, Western Union or postal money orders for your security deposit.

The application process takes approximately 2-3 weeks from the time the application and security deposit are received, if you send a personal certified cheque, money order or bank draft, drawn on a Canadian Financial Institution. It will take up to an additional 15 days if you send a personal cheque, as we must wait for personal cheques to be cleared by the bank.

There is no real way to speed up the process, however, ensuring that your application is complete will help. A personal certified cheque, money order or bank draft, drawn on a Canadian Financial Institution will expedite the process as we will not have to wait for the funds to clear.

Also, if either of the following applies to you, there are documents you can send with your application to ensure that your file is not delayed:

• if you have moved since your last loan/credit request or if you do not have a credit history, send a copy of your driver's license or a bill that matches your current address
• if you have recently been discharged from bankruptcy, attach your certificate of discharge

You may request "rush delivery" to have your card delivered to you by courier for a fee of $39.00. Please note that this is only a rush delivery and it will not affect the approval process.

• Annual fee of $49.00 for the Applicant and $19.00 for each Co-Applicant or Authorized User, to be charged on the day your Account is opened and annually on the anniversary of this date, or
• Monthly fee of $5.00 for the Applicant and $2.00 for each Co-Applicant or Authorized User, to be charged on your monthly Account Statement.

You have to pay at least the minimum payment on the statement. You cannot use your security deposit to pay off the balance.

You may still qualify if you have a past bankruptcy as long as you have been discharged. There is no waiting period after a discharge.

It is available in every province and territory except Québec.

You may make purchases up to the limit of your Home Trust Secured Visa Card or you can use your card to make cash advances at ATMs or at a bank. Your Home Trust Secured Visa Card is a revolving line of credit. As you use your credit card, you are continually borrowing against your line of credit and repaying it. The amount of credit you have available at any time will vary depending on your current outstanding balance.

You can call Home Trust Visa Customer Service at 416-777-5851 or toll-free at 1-888-281-7793 from Monday to Friday between 8:00 am and 8:00 pm EST or email visa@hometrust.ca