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This offer is not available to residents of Quebec. For residents of Quebec, please click here.
One of the more popular cards from Peoples Trust is the Peoples Trust Titanium+ Visa® Prepaid Card. Why? You pay no interest and unlike some credit cards, you don’t need a credit history to qualify.
When a credit card is “secured” it means you have to make a deposit before you’re free to swipe. The amount you deposit is your credit limit and it also acts as collateral. That’s what you get with the Peoples Trust Titanium+ Visa® Prepaid Card. You can use the Titanium+ Visa as you would a regular credit card: you can shop online and withdraw money from ATMs, for example. However, there are some built-in protections to be aware of — merchant holds, to be exact. In some cases, merchants may try to obtain a security deposit from you. It’s to ensure there’ll be enough money on the card to pay the final charge. This isn’t an unusual scenario for prepaid credit card holders to encounter when trying to rent a hotel room. Credit bureaus, however, won’t regard your card any differently. You don’t pay interest on your balance with this card but there are some fees for usage: if you make your card reloadable, there’s a monthly $15 charge.
Peoples Trust Titanium+ Visa® Prepaid Card
Peoples Trust is a federally-regulated bank that issues prepaid credit cards — powerful tools for those looking to build a credit history or to repair it. Peoples Trust has partnerships with both Visa and MasterCard.
Here’s what you get when you choose Peoples Trust for your credit card needs.
Peoples Trust caters to consumers who have difficulty obtaining lines of credit. The Vancouver-based financial institution offers ultra-secure products to help clients revive their credit score. Some prepaid cards from Peoples Choice can only be loaded once and used until the balance is spent, for instance.
Peoples Trust also has a range of cards that are reloadable and good for long-term use. There are no limits on how they can be used, whether for business expenses (payroll, expense management, and financial services) or personal items (travel, health, and transit).
Peoples Trust offers prepaid cards aimed specifically at travellers. These cards protect against fluctuations in currency exchanges and have other features designed to help the cardholder stick to their budget. The cards can be used for domestic and international travel and to purchase items online.
Just because it’s prepaid doesn’t mean you can’t have some fun: Peoples Choice also offers rewards credit cards that enable you to collect points that can be used towards travel.
Founded in 1985, the Peoples Trust Company prides itself on being a small firm that doesn’t try to be everything to everyone. The CDIC-insured trust’s mission is to provide credit to those who need it, to educate them on the proper uses of credit, and to make available a suite of high-quality savings products. Peoples Trust is one of Canada’s premier providers of prepaid credit cards. It doesn’t offer flashy deals, but you get the sense the financial institution cares more about your long-term financial health than boosting profits.
Credit CardsInterested in what credit card churners are up to in this economy? We spoke to two to find out.
Credit CardsIf my parents and educators had discussed credit with me when I was a teenager and allowed me to practise responsible use, I’d have felt more confident when the time came to sign up for my own card and begin building credit on my own. This is why I believe parents should commit to teaching their teens about the role of credit in our adult lives, which may involve giving them their own card to practise on.