State Farm Bank Business Visa

State Farm Bank Business Visa Review

Key Takeaways

• Business credit card with generous reward rate. You can get a rewards rate of up to 3 reward points per dollar spent.
• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 6 months , which is shorter than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 6 months.
• Competitive APRs. State Farm Bank Business Visa has a variable purchase APR that ranges from 13.24% up to 20.24%.
• No annual fee*. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• 3% Balance transfer fee. State Farm Bank Business Visa charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $30 in transfer fees. The minimum fee is $10.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 1% every time you make a transaction outside the U.S.
• Multiple business credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, extended warranty protection on purchases, identity theft protection, purchase protection, travel accident insurance, travel assistance, trip cancellation insurance, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 650.

Pros & Cons of State Farm business card

State Farm business card FAQ

Who is State Farm business card designed for?

This is a credit card issued by State Farm.

This business card is designed for small businesses with fair credit. The minimum credit score to apply is 650.

What are the relevant APRs?

This business credit card has a variable purchase APR that ranges from 13.24% up to 20.24%. The card has a variable balance transfer APR that ranges from 13.24% up to 20.24%.

It also has a variable cash advance APR of 24.49%. Note that late payments are subject to an APR of 28.49% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What fees does it charge?

The following fees apply to this business credit card:

• There is no annual fee.
• A late payment penalty of up to $39.
• A returned payment fee of up to $39.
• An overlimit fee of $39.

Does it offer a cash back or rewards program?

Yes, State Farm business card offers a rewards program to its customers. This business card offers rewards to small business owners that use the card to make purchases in the following bonus categories:

• Airfare
• Car Rentals
• Every Purchase
• Hotels
• Insurance
• Office Supply Stores

What are the benefits?

This business credit card provides the following benefits:

• Auto Rental Collision Damage Waiver
• Emergency Support
• Extended Warranty Protection
• Trip Cancellation Insurance
• Fraud Liability
• Travel Accident Insurance
• Travel Assistance
• Reports to major credit bureaus

What is the customer service phone number?

The customer service number for this business card is (800) 782-8332.

What is the support contact email?

The support contact email for this business credit card is support@statefarm.com.

Does State Farm Bank Business Visa report your account activity to credit bureaus?

Yes, State Farm Bank Business Visa reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply?

• Visit the State Farm .
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.