peoplestrust:The Peoples Trust Referral Program is designed for business professionals that deal with clients who:

The Peoples Trust Referral Program is designed for business professionals that deal with clients who:

• Have had credit problems in the past and need to re-build their credit rating
• Have no credit history and wish to establish good credit (students, and new immigrants)
• Are discharged bankrupts trying to re-build their credit rating
• Have difficulty obtaining unsecured credit cards

If your clients fall into any of the above categories or if you believe you can target these types of clients by utilizing online and off-line advertising methods, you can benefit greatly from our Referral Program.

The Peoples Trust secured MasterCard credit card is a regular MasterCard that requires its limit to be funded with an initial security deposit. The minimum deposit is $500, the maximum is $25,000.

• Your client’s security deposit is kept in a GIC account that currently earns 0.50% annual interest while they use the line of credit on the Peoples Trust Secured MasterCard Card.

• The limit of the Peoples Trust Secured MasterCard Card is equal to 100% of your client’s original security deposit. Your client can increase the limit later by adding more funds to their GIC account, but limit increases must be done in increments of $100.

• Peoples Trust reports your client’s payments to both the Equifax and TransUnion credit bureaus which means that as long as the card holder is making the required minimum payments on a timely basis, they are building a good credit rating.

• Your client’s security deposit will be locked into a GIC account as long as their MasterCard account is open. Your client receives the security deposit back (plus interest, if the account has been open a year or longer) after the Peoples Trust Secured MasterCard Card account is closed.

When you sign up for the Referral Program, Peoples Trust will assign you a unique referral code that you put at the top of every application you give out. Peoples Trust pays a commission of $35 for every approved application bearing your referral code. All you do is mark your code on the Peoples Trust Secured MasterCard Credit Card applications and make them available to your clients.

A referral code is a unique number to identify the source of the referral, and track all the referrals coming from that source/referrer. Once you sign up for the program and become a registered agent, you will be assigned a referral code. You must mark your referral code on each Peoples Trust secured MasterCard application form you hand out in order to receive credit. On the top of each Peoples Trust secured MasterCard application form, there is a designated spot for you to enter your referral code. It is very important that you print your referral code clearly in that spot. If there is no referral code on the Peoples Trust  secured MasterCard application form, the system will not capture the source of the referral, and will not generate any referral fee for the agent who produced the referral.

What is the referral commission?

Peoples Trust pays a $35 commission for every approved application.  Peoples Trust also offers a $40 commission for every approved application over 50 in a calendar month.

How is the referral commission paid?

Commission is paid on a monthly basis by issuing a cheque to the agent, or to the referrer’s company, depending upon the preference made on the Peoples Trust Referral Program Membership Application Form. Please note that the commission generated from referrals in a month will be processed the following month. For example, if your client is approved on February 25 then the commission for this referral will be a “February payment” and will be processed early March, after the month of February is complete.

Should I select pay to the agent or company?

Peoples Trust gives you the option of selecting the fee “payable to the agent”, or “payable to the agents company” based on the agents preference. If in doubt, please contact your head office and check with them first to make sure receiving a referral commission directly to your name is not against your company policy.