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Email this9:34 am
April 6, 2013
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moneyhelp said
Has anyone noticed that when using one service (ie, Borrowell for me) I get one score (850) and I just found out yesterday RBC also has a credit score check on their online banking site and when I used it, it showed a score of 820. …
Those scores are from different scoring systems. One needs to be careful which scoring system the score is from.
The free score from Borrowell is an Equifax Risk Score. This is from the bottom of Borrowell's web page:
Disclaimer: The Equifax credit score is based on Equifax’s proprietary model and may not be the same score used by third parties to determine your credit profile. Third parties will take into consideration other information in addition to a credit score when evaluating your credit profile. The score provided to you for educational use is the Equifax Risk Score, also known as ERS 2.0.
The free score from RBC is a TransUnion CreditVision Risk Score:
The TransUnion CreditVision Risk Score is provided to help you better understand how lenders view your credit report. … TransUnion Interactive is not connected in any way with Fair, Isaac and Company; the credit scores provided here are not so-called FICO scores. The TransUnion CreditVision Risk Score may not be identical in every respect to any consumer credit scores produced by any other company.
Such "consumer grade" scores are just for information or "laughs".
Lenders actually don't use such scores. Instead, they use FICO scoring or their own internal scoring system. Equifax Canada offers consumers their FICO score for $23.95 through their Score Power product.
7:53 am
September 30, 2017
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fionag11 said
Wow!I just got an email saying I am approved for a Home Trust Visa that I applied for on April 4th and it's in the mail. This is much faster than I expected given some other people's experiences on this thread. I might actually get it before my trip to Britain on the 15th.
Wonder if applications are first-in-first-out ... I applied on Jan 25th, contacted HT multiple times and as of yesterday May 24th still received no meaningful status updates. I don't know for sure if it is just queuing issues or something wrong with my specific application.
3:23 pm
February 17, 2013
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3 credit bureaus? Never heard of Experian. Are they in Canada as well?
6:57 pm
January 17, 2018
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Well, what do you know, after requiring that I send a photocopy of my passport or driver's licence which I ignored and given 14 days to do so, Home Trust emailed me yesterday that my application has been approved and the Preferred Visa has been mailed. I had already given up on Home Trust as my application was made on Mar.3/18, a total of 3 months so I proceeded to apply for TD Cash Back Visa Infinite Card on May 18/18 and received it on June 1/ 18, a total of 14 days. Now I've one too many Visa cards and both have roadside assistance which is why I applied for these cards. TD waived the annual fee of $120 for the first year and gives me $27,000 credit limit in addition to 3% cash back on groceries, gas and recurring bill payments and 1% on the rest whereas Home Trust has no annual fee but low credit limit and only 1% cash back. TD will waive the subsequent annual fees if I open a TD All Inclusive Banking Plan and keep $5,000 in it not earning interest and they will throw in a small safety deposit box (rental is about $60) for free which I can use. Is TD a good deal versus Home Trust? I don't spend that much on groceries and gas.
7:15 pm
October 11, 2015
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I finally received my Home Trust Visa today after a 5 month wait! My main objective with this card is to use it for no foreign transaction fees and roadside assist. Marnie, I have a TD Aeroplan card which I also get for free as I have an All-inclusive account there. When I got the TD card, I got a 30,000 mile welcome plus and additional 30,000 which I won at the branch (it was a bit of a joke--but a promotion). I also use a BMO World Elite Mastercard (not the cashback card but the travel card) which I pay for every month (it also gives 4 airport lounge passes).
8:50 pm
April 6, 2013
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Marnie said
…. TD waived the annual fee of $120 for the first year and gives me $27,000 credit limit in addition to 3% cash back on groceries, gas and recurring bill payments and 1% on the rest whereas Home Trust has no annual fee but low credit limit and only 1% cash back. TD will waive the subsequent annual fees if I open a TD All Inclusive Banking Plan and keep $5,000 in it not earning interest and they will throw in a small safety deposit box (rental is about $60) for free which I can use. Is TD a good deal versus Home Trust? I don't spend that much on groceries and gas.
I think the 3% cash back is not on groceries and gas. It is on purchases at grocery stores and gas stations. If one uses the TD Visa card to buy a Cineplex gift card at a grocery store, then one will effectively get 3% cash back on movies. 
9:06 pm
January 17, 2018
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Dentgal, is that 60,000 miles worth $600? I only got a measly 6% on top of the 3% for 3 months. Do you find it worthwhile to keep $5,000 in the TD All inclusive account not earning any interest just to get the TD Aeroplan card for free?
9:15 pm
January 17, 2018
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Norman1 said
I think the 3% cash back is not on groceries and gas. It is on purchases at grocery stores and gas stations. If one uses the TD Visa card to buy a Cineplex gift card at a grocery store, then one will effectively get 3% cash back on movies.
You are right but it's tricky as I just found out that Costco is not considered a grocery store and I buy the bulk of my groceries there. That's crazy!
4:34 am
October 11, 2015
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Marnie, it's really difficult to calculate points into dollars.
With aeroplan, some "short haul" flights are 25,000 points. (ie. to Montreal, New York, etc)--but you still have to pay the taxes, so I usually find that it's not worth using your points for these type of flights. You get 1 point for every dollar that you spend with the TD Aeroplan Visa. So let's forget about the "bonus" welcome points. YOu have to spend $25,000 to get 25,000 points. I am going to Copenhagen this summer. The cheapest flight I have seen so far on Air Canada direct is between $1450 and $2000!! I used 60,000 Aeroplan points for the same flight. My taxes were $500. So, my 60,000 points got me approx. $900 worth of flights($1400-$500 taxes) (or more), so I think that this is worth it!! If my math is correct, this translates into $60 that you spend with the TD card gives you almost $1 of travel. (I hope someone else will check my math).
The Home Trust gives you 1% cashback--so you would have to spend $100 to get $1 back. So the comparison is $60 with TD aeroplan vs. $100 from Home Trust to get the same $1 back. So TD is better!! If you're looking for a cashback card, there are better ones. I'm not sure about "free" cards. So, it depends how much you will spend on a card to determine if you should pay for your card. Or if you can "write off" the cost of the credit card through your business. As I mentioned, my main use for this card is for travel outside of Canada--normal cards charge 2.5% foreign transaction fees--this card has none. And, the roadside assist feature--although the information on HOme Trust website AND the info that they sent me does not specify details about the roadside assist. I believe that I read somewhere that they only include a 6km tow. And, I read the fine print on the "Purchase Security"--should your new item that you bought be stolen or damaged for up to 90 days after you purchased the item: if you leave the item in your vehicle, it is not covered!! Honestly, picking a credit card is a nightmare!!! PS I've been seeing advertising from TD right now saying that if you get an All inclusive account, they will give you $300. I use this TD account for all my personal expenses (paying hydro, visa, taxes, etc), so I have to keep more than the minimum $5000 in there. I know that there are cheaper banks (i.e Presidents Choice=Simplii) with free accounts. With TD I get a free safety deposit box, free USD Visa card, preferred rates to convert to USD, etc. (I think that you have to have an online high interest savings account with TD to get all this--but I'm not 100% sure!). (P.S you asked about keeping $5000 in the account; right now, the most you would get is about 2.5% in a savings account, so $5000 works out to $125 , which is the cost of many credit cards!!)
10:09 am
January 17, 2018
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Thanks dentgal for such a comprehensive and insightful explanation. I can see why you have the All inclusive account. For me I already have a free checking account where I don't have to keep a minimum balance so opening the All inclusive account would be just to get the annual fees waived for the TD Cash Back Visa Infinite Card and the small safety deposit box and I'm pondering whether it's worth it. Well I guess I have some time to think about it as TD did waive the first year fee for the card.
10:37 am
December 17, 2016
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dentgal said
I hope someone else will check my math.
I ain't touching the math but I do wonder about your using the 2 cards for travel.
So, you say you like the Home Trust Visa for the fee-free foreign transactions. If on a trip to Europe you spend €5,000 x 1.5 exchange rate = $7,500. So, you save $7,500 x 2.5% = $187.50 in foreign transaction fees BUT you loose out on 7,500 Aeroplan miles you would've earned on your TD card - so where does that all sort itself out?
10:57 am
April 6, 2013
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Marnie said
You are right but it's tricky as I just found out that Costco is not considered a grocery store and I buy the bulk of my groceries there. That's crazy!
More precisely, it is based on the assigned Merchant Category Code (MCC) of the credit card terminal used.
Wrote way back that Costco had MCC 5300, for the category "WHOLESALE CLUBS". The MCC for "Grocery Stores" is 5411.
11:43 am
January 17, 2018
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Top It Up said
I ain't touching the math but I do wonder about your using the 2 cards for travel.
So, you say you like the Home Trust Visa for the fee-free foreign transactions. If on a trip to Europe you spend €5,000 x 1.5 exchange rate = $7,500. So, you save $7,500 x 2.5% = $187.50 in foreign transaction fees BUT you loose out on 7,500 Aeroplan miles you would've earned on your TD card - so where does that all sort itself out?
Let me try the math. Dentgal says her flight fare ranges between $1,450 and $2,000 and after $500 taxes her 60,000 points garner her $950 to $1,500 worth of flight benefits so she has to use a range of 40 to 63.16 points to pay for $1 of flight benefit. Therefore the TD Aeroplan Visa 7,500 points equate $118.75 to $187.50 flight benefits whereas Home Trust yields $187.50 in foreign transaction fees plus $75 in 1% cash back so $262.50 in total. Looks like Home Trust wins or am I missing something?
8:13 pm
December 4, 2016
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Applied for this card. I have applied for a few CCs in the past year so I might not get it. Hoping I do.
Getting it mostly because it's a VISA card. Which I need for more diversity in my active cards (only AMEX and Mastercard’s right now), and it can be used in Costco USA.
True no FX. So, beats my Rogers WE.
Road side assistance. It's a plus. I would go with CT CC but I don't ever go to Canadian tire for anything. So, this Road side assistance should be good enough.
Its downsides are not super big deals to me.
I held out thinking there would be a better replacement for the Amazon Visa I had. It turned out not to happen. This is the closest card to the Amazon Visa and in some ways, is better.
I don't see a good Visa coming down the pipes. Maybe Simpii card. But they probably will downgrade after a year. This card (HT Visa) has shown not to have devalued and also the parent company hasn't fallen as I thought it might.
After my previous post, others recommended this card sort of or at least listed it and saying they like having one of each kind. I agree with this and made me rethink my current card combos.
Let’s see if I can juggle one more of these things lol. Probably going to see some downgrades in the future for some of the cards i have. Likely will reduce my card load by eliminating cards that downgrade the most.
I think this isn't just going to be a test card but a keeper. I'll have to see.
6:06 pm
December 4, 2016
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Phone today. They said their website is not accurate. It's 2 to 6 weeks to process a application.
I think they are still getting heavy traffic of applicants.
10:47 am
October 22, 2015
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I wouldn't be in any hurry to get this card based on my experience.
I was approved for the card and used it in the U.S. in August.
On August 22nd received both a call and an email notifying me of 4 likely fraudulent purchases on my card (from U.K., Russia)
I immediately called back and confirmed that the 4 purchases totally over $800 were NOT mine, and the card had been in my possession at all times. I was assured a dispute would be issued and the charges would be cleared from my account before my next statement. I checked my account online on Sept. 6th and the charges were still showing so I called customer service and reiterated what had happened. I was assured it just takes a bit for the charges to disappear but would definitely not be on my next statement. I got the statement on the 17th and they were still there. After an hour and a half of phone calls to three different areas, dispute dept., fraud department and customer service, it was determined that the charge dispute was never initiated. Someone dropped the ball bigtime.
I had to file the dispute myself almost a month after they called me to tell me about the fraud and ensure me they were looking after it. After talking to the three departments it was clear to me that the left hand doesn't know what the right hand is doing. I'm still waiting for these charges to be removed, and have to wait 15 days for them to send a letter that I have to return before they will. Snail mail. Seriously????
I have no confidence in this credit card company and will be cancelling it as soon as this disaster is sorted out.
I just got a Brim card which serves my purpose perfectly.
11:02 am
December 17, 2016
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Just curious @fabafter50 - did you do an insert Chip and PIN transaction with that card in the US or did you do a SWIPE transaction with it ?
2:20 pm
October 22, 2015
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Yes, it was a Starbucks and I inserted the card and put in the pin and it worked fine. However we went to a huge liquor store later in Rochester and I also inserted the card, had to put the pin in 3 times, and it didn't work. I'm wondering if something hinky happened there. It was the same day as the Starbucks.
4:09 pm
October 11, 2015
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My chip worked in Europe. I don't think that the USA uses chip technology. I remember using my pin in Europe. It is very frustrating that you cannot make up your own PIN and you need to remember the crazy pin that Home Trust sends you.
4:21 pm
December 17, 2016
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US financial institutions have been rolling out chip-embedded cards to their customers over the past year, albeit at a snail's pace. The merchants have been incredibly slow to install the necessary POS terminals to handle those same chipped cards, in other words it's pretty hit and miss which may explain why the individual was able to use it at Starbucks and not at the liquor store, although the cashier would/should have said otherwise. Maybe the individual's card got picked off by a shimmer, installed in that liquor store's POS terminal.
For me the REAL downside of HT Visa cards is lack of contactless pay, truly unbelievable in 2018 to not offer that feature.
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