Home Trust Preferred Visa Card | Page 3 | Credit card reward programs | Discussion forum

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....

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

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.

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 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!!
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.

@Mary- No, it's a Cdn card. Capital One may be a US company though; not sure.

FWIW, the second answer sounds more sensible to me. They can't charge you interest if you're not borrowing money!

like you say, a trial run may be the best way to find out what really happens - or the only way.

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.