What Is a HELOC Credit Card? (And Why Trovy Created One)

What Is a HELOC Credit Card? (And Why Trovy Created One)

We don’t need to tell you that life is expensive right now. You already feel it.

Credit card debt just hit an all-time high at over $1.1 trillion in the U.S with the average credit card APR at 25.33%,⁵ and even personal loans rates at 12.64%.⁴ Meanwhile, basic costs like groceries, home repairs, and medical bills just keep stacking up. More and more people are leaning on credit cards to keep up and are paying the price for it.

But if you’re a homeowner, you might have access to a better, smarter option. One that’s flexible, fast, and built for life’s big (and everyday) expenses. Let’s talk about your home equity and why Trovy has come out with a new way to access it.

A Better HELOC

A home equity line of credit (HELOC) gives you access to funds based on the equity you’ve already built in your home. Trovy takes that idea and makes it seamless.

Meet the Trovy HELOC.

We’ve taken the structure and lower-cost interest of a HELOC and paired it with the ease and familiarity of a credit card. At its core, the Trovy HELOC is a hybrid: a revolving line of credit secured by your home equity, with a credit card attached to it so you can access your home equity whenever you need it. Here’s how we differentiate ourselves from the competition:

• Card-enabled flexibility - access what you need, when you need it, on-demand using your Trovy Card or through cash withdrawals
• Speed! Get access to your funds as few as 4 days¹
• Interest rates that are significantly lower than a typical credit card
• Cash back on your credit card spend
• Tax-deductible interest when used for qualifying home improvements²
• No annual fees

It’s a twist on the traditional HELOC, designed for how people actually spend today.

You can use your Trovy Card just like any other credit card. Tap, swipe, spend but with a lower interest rate than typical credit cards.

Trovy makes it even easier

Traditionally, getting access to home equity hasn’t exactly been a fast or easy process. Weeks of back and forth, tons of paperwork, not exactly built for how people live today.

Trovy changes that.

How It’s Different (And Why It Matters)

Let’s break it down:

We’ve combined the flexibility of a credit card with the power of a HELOC. You apply online, get approved in minutes, and use your card in days. No waiting. No clunky process. Just access to your own equity, when and how you want it. You can use your Trovy Card just like any other credit card anywhere Mastercard is accepted. You earn rewards. You get lower daily interest. You pay no annual fee. You keep moving forward.

Real talk: things people can use their Trovy Card for

Your home equity isn’t just for renovations anymore. It can support all kinds of big life moments, planned or not.

• Debt consolidation: Staring down a bunch of credit card balances at 20%+ interest? Using the Trovy Card to pay them off could save you thousands and give you one, manageable payment at a lower rate.
• Home Improvements: From a kitchen upgrade to a new roof, your home can help pay for its own improvements and in many cases, that interest is tax-deductible.² It’s a smart way to add value and comfort without draining your savings.
• Medical expenses: Even with insurance, major procedures or emergencies can leave you with unexpected bills. Your home equity can act like a financial safety net when you need it most.
• Helping family: Aging parents. Kids in college. Loved ones going through a tough patch. Trovy gives you a flexible way to support them.
• Major purchases: Wedding coming up? Car breakdown? Second home opportunity? Your Trovy HELOC is there when life happens, no need to reapply or take out a new loan.
• General spending: Plug a liquidity gap in your monthly finances if you need cash for day-to-day expenses.

Your Home Isn’t Just Where You Live, It’s a Financial Asset

Trovy was built for people who have demonstrated the ability to borrow responsibly but still get hit with sky-high credit card rates. Trovy’s founders noticed that all cardholders were getting roughly the same credit card APRs, even though they had proven themselves to be responsible borrowers. They decided to find a way to replace one-size-fits-all lending with fair, flexible credit for responsible homeowners. With Trovy, you can put your home equity to work without refinancing, selling, or overpaying in interest. Whether you’re planning ahead or reacting to life’s surprises, Trovy helps you move forward with confidence.