Every bank likes to think that it is slightly different when it comes to the benefits that it offers to its customers. When it comes to credit cards especially, there are all kinds of great things that a bank will offer and then claim to be different than the others. S&T Bank feels that it offers something different with its Visa Rewards credit card as well.
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The S&T Bank Rewards Visa credit card is specifically for homeowners. S&T Bank markets this credit card as a card that no homeowner should be without. Keep reading to learn if this is actually the case.
S&T Bank Visa Rewards Credit Card Qualifications
While this credit card at first glance looks like a typical rewards credit card, it’s actually a home equity line of credit. If you aren’t a homeowner, or if you’re a homeowner without equity in your home, then you will be unable to qualify for the S&T Bank Rewards Visa credit card.
Your ability to qualify for the Rewards Visa credit card from S&T Bank really has nothing to do with your personal credit score.
Instead, the bank will determine your ability to get this loan based on the amount of equity you have in your home as well as your ability to repay the loan. It will look at your credit history, but not necessarily your credit score.
S&T Bank Visa Rewards Credit Card Terms
Because of this type of loan, S&T Bank does have standards for use. Simply put, you have to go onto S&T Bank’s website and actually get a quote based on the value of your home, the equity in your home, and the amount that you want to borrow.
However, because this is still a credit card, S&T Bank still has to comply with the Federal Reserve‘s Credit Card Rules. What’s more, you have the additional protection of a loan contract agreement as well, which means the terms of your use cannot change once they approve you for this loan.
S&T Bank Visa Rewards Credit Card Verdict
Because of the nature of this credit card, only a limited number of people will be able to apply for it. As such, if you’re not a homeowner and you’re not looking for a home equity line of credit, then this isn’t the credit card for you.
Even if you won’t qualify for this credit card, there are other great secured credit card offers for you to look through for FREE by using our tool above!
- Palmetto Citizens Federal Credit Union Visa Equity Credit Card
- Utilities Employees Credit Union Home Equity Visa Platinum Credit Card
- SELCO Community Credit Union Visa Home Equity Credit Card
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