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Home Trust Preferred Visa Card
April 1, 2018
11:11 am
Norman1
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There are many machine-readable ways to make each card unique.

One is the PAN Sequence Number. It can be used to distinguish between multiple cards with the same PAN (Primary Account Number). It is on the magnetic strip and in the chip. It is not usually printed on the card. I've only seen it printed on RBC Royal Bank debit cards which have no expiry date. First card has sequence 01. Next card (renewal or replacement) would have sequence 02 and so on.

April 4, 2018
10:54 pm
fionag11
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I applied...oh my. Home Trust Visa has the most bizarre drop down list of occupations that the hapless applicant has to chose from. ATM Operator? Is that seriously a job? Professional Gambler? Would they give a credit card to someone who picked that? Of course, my actual occupation did not appear...

Hoping to get it before a trip abroad in mid May! We'll see....sf-laugh

April 5, 2018
4:33 pm
Save2Retire@55
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I applied on Feb 21st. Called them yesterday and after 40 minutes wait time finally got through (this was 7:55 PM EST). He confirmed the wait time before receiving the card is now 8 weeks (He said this includes the post time after issuing the card). I have a vacation book end of this month and asked if they can expedite the application which he declined but assured I will get the card if approved before the travel time. I didn't want to risk it and applied for Fido last Thursday, called them yesterday, application is processed and I will receive the card in 7 - 10 days.

April 13, 2018
7:43 am
fabafter50
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Kidd said
Top It Up.

A way around the high interest costs of foreign cash advances on your credit card.... before you leave canada, deposit a few thousand into you credit card account. So you "top it up" before you leave canada  

I just got this card, very pleased.
I always did the top it up with Amazon. Never was charged any cash advance fees. Do you know if this will work on this Home Trust card?
Thanks in advance sf-laugh

April 13, 2018
7:55 am
gicjunkie
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fabafter50 said

I just got this card, very pleased.
I always did the top it up with Amazon. Never was charged any cash advance fees. Do you know if this will work on this Home Trust card?
Thanks in advance sf-laugh  

I know that a lot of contributors to this forum are very knowledgeable, experienced and bright people, BUT, for very specific and highly relevant information, which may have financial repercussions, do you not think you should be confirming the answer to this question directly with Home Trust instead of relying on hearsay?

April 13, 2018
8:37 am
fabafter50
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gicjunkie said

I know that a lot of contributors to this forum are very knowledgeable, experienced and bright people, BUT, for very specific and highly relevant information, which may have financial repercussions, do you not think you should be confirming the answer to this question directly with Home Trust instead of relying on hearsay?  

Thank you for that stellar advice.
Having already called Home Trust, and not getting a definitive answer as the rep did not seem to understand what I was asking, I was looking not for hearsay, but for someone's possible experience with this particular card.

April 13, 2018
8:57 am
gicjunkie
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Quite frankly, if the "rep" couldn't understand the question, or if you at all were not pleased with the answer, you should ask for a supervisor or manager to give you a definitive answer. This is a financial institution, not your local convenience store, and there must be someone there to answer important questions. It's also important to get the names of the people you speak with, for future reference.
Hope you get the answers you need prior to traveling. You don't want poor info to come back and bite you when it's too late. Good luck.

April 13, 2018
10:39 am
Loonie
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In the absence of clear information, I will throw in this experience.
I have a store-related card that comes from Capital One. I only use it when shopping at this particular store. Occasionally, I return items to the store, creating a positive balance on the credit card, sometimes several hundred dollars.
If I don't spend down that balance, Capital One sends me a refund in the form of a cheque. I can't remember how soon this happens, but within a few months at least, if not sooner. I do not request this cheque. It comes automatically.
It hasn't happened for a while. My recollection is that, the first time it happened, I phoned and asked them why they were handling it this way. As I recall, the answer had something to do with the fact that as a credit card company, they were not allowed to retain deposits.
So, there may be some kind of statutory limit on how much or how long they can hold your money.
This experience may or may not apply in this situation, but I throw it out because it would be nasty if your balance evaporated while you were away due to a cheque having been sent to your house in your absence.

April 13, 2018
11:15 am
Kidd
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This same question was asked on another financial blog. Here is a screenshot that reply.

Screenshot_20180413-140716.png

April 13, 2018
12:45 pm
Top It Up
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SO, what's the advantage of "excess" loading your credit card to do cash withdrawals OVER just using your debit card to do the exact same thing?

April 13, 2018
12:57 pm
Kidd
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Hi,

Top It Up said
SO, what's the advantage of "excess" loading your credit card to do cash withdrawals OVER just using your debit card to do the exact same thing?  

Exchange fees. This credit card charges NO exchange fee, whereas a debt card will charge a fee.

Foreign Currency Conversion
0%
For Purchases or Cash Advances in a foreign currency, that foreign currency will be converted into Canadian dollars at the exchange rate set by Visa International in effect on the day the transaction is posted to your Account, plus a 0% currency conversion charge.

April 13, 2018
1:01 pm
Mary
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Loonie said
In the absence of clear information, I will throw in this experience.
I have a store-related card that comes from Capital One. I only use it when shopping at this particular store. Occasionally, I return items to the store, creating a positive balance on the credit card, sometimes several hundred dollars.
If I don't spend down that balance, Capital One sends me a refund in the form of a cheque. I can't remember how soon this happens, but within a few months at least, if not sooner. I do not request this cheque. It comes automatically.
It hasn't happened for a while. My recollection is that, the first time it happened, I phoned and asked them why they were handling it this way. As I recall, the answer had something to do with the fact that as a credit card company, they were not allowed to retain deposits.
So, there may be some kind of statutory limit on how much or how long they can hold your money.
This experience may or may not apply in this situation, but I throw it out because it would be nasty if your balance evaporated while you were away due to a cheque having been sent to your house in your absence.  

Loonie....a mystery!! sf-laughsf-laugh
Is this an American Card? I know my wife's Macys card does the same...if there is a balance...they send a cheque once a year.

April 13, 2018
1:09 pm
Top It Up
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Kidd said

Exchange fees. This credit card charges NO exchange fee, whereas a debt card will charge a fee. 

Yeah, I keep forgetting about the Home Trust card being a no Fx fee card.

April 13, 2018
2:02 pm
Loonie
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@Mary- No, it's a Cdn card. Capital One may be a US company though; not sure.

April 13, 2018
2:03 pm
fabafter50
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Kidd said
Hi,

Exchange fees. This credit card charges NO exchange fee, whereas a debt card will charge a fee.

Foreign Currency Conversion
0%
For Purchases or Cash Advances in a foreign currency, that foreign currency will be converted into Canadian dollars at the exchange rate set by Visa International in effect on the day the transaction is posted to your Account, plus a 0% currency conversion charge.  

Thank you Kidd, yes the conversion is the reason.
I have received two different answers from Home Trust regarding this. One said even if the balance is negative, the withdrawal will be treated as a cash advance and interest will incur.
The other superior rep, said no.
Kind of like dealing with the CRA, a different answer every time.
I will make a couple more inquiries and a small test run before our vacation.

April 13, 2018
2:09 pm
Loonie
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FWIW, the second answer sounds more sensible to me. They can't charge you interest if you're not borrowing money!

April 13, 2018
2:15 pm
fabafter50
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Loonie said
FWIW, the second answer sounds more sensible to me. They can't charge you interest if you're not borrowing money!  

I know, right?
We also got the Rogers card as it took eons for approval on the Home Trust.
Rogers told us no matter how big the negative balance, they would treat it as a cash advance.
Their card is in pieces in the bin. LOL

April 13, 2018
3:08 pm
Loonie
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like you say, a trial run may be the best way to find out what really happens - sf-confusedor the only way.

April 13, 2018
6:25 pm
Save2Retire@55
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And I am still waiting ... and waiting ... no email yet! LOL!
At least Fido master card is here.

April 13, 2018
6:53 pm
Norman1
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Loonie said
FWIW, the second answer sounds more sensible to me. They can't charge you interest if you're not borrowing money!  

I would guess that there would be no interest charged because card account balance owing is negative. But, the 1% or 1½% fee for an ATM cash advance could be charged.

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