People's Trust Secured Mastercard (formerly the Horizon Plus Credit Card Products, like their Prepaid Cards)

People's Trust Secured Mastercard Credit Card

It looks like People's Trust/Horizon Plus is no longer in the prepaid credit card market. (This is incorrect, please see comments below for why this confusion occurred).  Now they only offer the HorizonPlus Mastercard directly through Peoples Trust, whereas previously they were through the HorizonPlus subsidiary (or so I think). If you're looking for a prepaid gift card, it would still be a good idea to take a look at my Canadian Prepaid Visa/Mastercard Gift Cards Review here.

Now, a secured credit card isn't all that much different than a reloadable credit card. Really, when you think of it, they're almost exactly the same.

With a secured credit card, you load up the card with say $500, and then it's like a regular credit card with a $500 limit. If you want to have a higher limit, you need to "secure" it with a bigger deposit. The problem is that you always have $500 or some amount stranded in the card, you can't get back to "even" without cancelling the card (usually). 

With a reloadable prepaid Mastercard/Visa, you load up the card and then draw down that amount. So you can put in $500 and spend that, like a debit card that's accepted anywhere a Visa or Mastercard is. 

Either way, you're not allowed to spend money that you don't have. 

The difference is that a secured credit card reports to credit bureaus (usually), which can help you rebuild your credit if you have none or terrible credit. Prepaid cards generally build your credit rating, though they might check your credit rating to verify your identity. 

The People's Trust Secured Credit Card offers:

  • Minimum $500 deposit (and therefore minimum $500 credit limit), which earns interest, but probably not much.
  • Deposit money cannot be decreased. You can only cancel the card to get the deposit money back
  • You _do_ need to pay off your balance each month. Only if you default or something will they use your $500 deposit to pay off your account. So, they still require much discipline
  • Set up fee of $49
  • Monthly fee of $5.95 (starting from the first month)
Overall, meh, especially if you have to pay $49 again when the card expired if you want to continue your account, though I'm not sure if it works this way. It seems to me that the prepaid Mastercards/Visas I've discussed in this guide are better options, except they don't contribute to your credit rating.

Pre Paid Cards

do pre paid Mastercards report to the credit bureau? I don't thinks so. I think on secured ones do. The only thing BMO may do for a pre paid card is check and verify your ID with the credit bureau.

your damn site is always

your damn site is always unavailable, please do something for the consumers who us it


Peoples trust are a complete bunch of idiots.

So many bad phone connections, hard to get account info and barely English speaking customer service.

I had the card five years, and they decided to cancel because i was in default 9.00 dollars after FIVE YEARS OF PAYING THEIR STUPID ASSES FEES?

I can't believe their shit.

Peoples Trust Prepaid Cards


I found your website while searching for our company's products on Google and I am surprised that you are stating that "Peoples Trust is no longer issuing prepaid cards."

Peoples Trust continues to issue the prepaid HorizonPlus prepaid MasterCard card and is also the issuer of the Nextwave Titanium prepaid MasterCard card.

Please visit our website, at and select Cards to see a complete list of our current products.


Mihnea Cirica
Account Manager - Peoples Trust
(877) 694-6206

Peoples Trust Mastercards / HorizonPlus Prepaid Mastercard

Hi, thanks for the reply.

What led to this confusion was that visiting leads to a message saying:

" is now operating under it's parent company - Peoples Trust. If your browser doesn't automatically go there within a few seconds, you may want to go to the new location manually. "

Going to this new location takes me to the Secured Mastercard part of the Peoples Trust, with the main header of "Your approval for Peoples Trust® Secured MasterCard® Card is almost guaranteed!".

This led me to logically believe that was rolled into Peoples Trust Secured Mastercard product, but as you have stated, this isn't the case.

To fix the root cause of this confusion, perhaps this new location link that points to should be a more general part of the Peoples Trust website, or even the prepaid card section that it is replacing.

I'll also add that there is quite a bit of difficulty in finding the Prepaid Mastercard on your website when someone directly visits I'll leave it to you to figure out why, but I will say that it's no surprise one would be led to believe that the prepaid product no longer exists. 

What a mess of a site. I'll spend a 4-5 hours giving you a usability report of how to fix your site for $400, it'll probably be the best money your company ever spent. Or get my brother to re-design the whole site from scratch on a usable, functional and scalable content management system. Contact me through the "Contact Me" link. 

Furthermore, shouldn't the company name be People's Trust and not Peoples Trust?

Peoples Trust Mastercard / HorizonPlus Prepaid Mastercard


I am sorry I was not able to see your answer earlier. I have provided your feedback to our Marketing Manager.

I assure that I have not maken a spelling mistake with our corporate name. "Peoples Trust" is a registered brand and it has been used in the past 25 years.


Mihnea Cirica

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