STCIB credit Card guarantees 24/7 access to funds in your account, anywhere and anytime. It’s safer and a lot more convenient and easy to use. STCIB credit card can allow our customers to borrow money and continue to pay it back as long as the account is open. While it’s not the only way to pay bills or make purchases, when used responsibly, a credit card can help you to build your credit. We have different types of credit cards, and they all start with applying and getting approved. But first, it’s helpful to know more about the credit card options—and how they work—to see what’s right for you.

Credit cards impose the condition that cardholders pay back the borrowed money, plus any applicable interest and any additional agreed-upon charges, either in full by the billing date or over time.

Different types of credit cards

Unsecured credit cards: These might be what you think of when it comes to traditional credit cards and don’t require collateral or a deposit to open an account.

Secured credit cards: These credit cards require a security deposit to open the account and can be helpful for cardholders who are building their credit history. Cardholders will usually receive the deposit back when the account is closed or upgraded to an unsecured credit card.

Rewards credit cards: With these credit cards, cardholders typically earn cash back, miles or points with their purchases.

Retail or store credit cards: Cardholders can open these credit cards with a retail store or brand and earn rewards or perks when making purchases with the store or its affiliates.

How do credit cards work?

Before applying for and using a credit card, it can be helpful to know how credit cards work. When cardholders use their credit card, they’re borrowing money from the card issuer. The card network helps process the payment. Each month, cardholders receive statements with a minimum amount that’s owed by the bill’s due date. And if a cardholder pays off their entire balance, they could avoid paying interest.