Equityline Home Trust Visa Review
The Equityline Home Trust Visa card is the combination of a credit line and a gold visa card. You can use the equity in your home to secure a line of credit with the Home Trust Visa of up to $100,000! The other benefit with this card is that you get a competitive interest rate ranging from 5.99% to 15.99% depending on your credit rating.
Equityline Home Trust Visa Review:
Interest Rate: 5.99% to 15.99%
Annual Fee: None (Except in Quebec)
Supplemental Card Fee: None
– Legal fee of approximately $350-$780
– Title search fee of $35
– Borrow up to 65% of the equity in your home
– Home values above $500,000 require a case-by-case review
– Cannot have a private mortgage
The Equityline Home Trust Visa allows users to access their credit in multiple ways. In addition to purchases the card also allows for cash advances and convenience cheques. This is on top of the regular perks you’ll receive as a Visa Gold card holder. Click here for more details.
– Auto Rental Collision/Loss Damage Insurance
– Guaranteed hotel reservations
– Health and Legal Assistance Services
With the Equityline Home Trust Visa there is a mortgage discharge fee if/when the account is ever closed. The reason is because this Home Trust Visa places a mortgage on your home as collateral for your credit line. The discharge fee varies by province and ranges from $0 to $365.50 (subject to change at any time).
This card from Home Trust Visa is perfect if you require a lot of available credit on your credit card. The only challenge is that it comes with a number of fees associated with the setup and discharge of this card. If you plan on keeping this card for a long length of time then these fees may not concern you given there is no annual fee outside of Quebec.
Equityline Home Trust Visa Review: Final Thoughts
The Equityline Home Trust Visa is a basic visa gold card with the big benefit of a credit line of up to $100,000. This is the major benefit of the card and is perfect for people or businesses that require a large amount of available credit and competitive interest rates.