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  State Farm Bank Business Visa

State Farm Bank Business Visa

in Business Credit Cards from State Farm

Unaffiliated

State Farm Bank Business Visa

Unaffiliated

in Business Credit Cards from State Farm

Net Recommendation Score -100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Purchase APR  (Variable APR) 13.24% - 20.24%
Balance Transfer APR  (Variable APR) 13.24% - 20.24%
Credit Score Range 650 - 850
Annual Fee $0

State Farm Bank Business Visa Review

Key Takeaways
  • Business credit card with generous reward rate. You will 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
The Good The Bad
  • Lower than average purchase APRs.
  • 0% APR balance transfer intro rate on balance transfers for up to 6 months.
  • 0% APR on new purchases during the first 6 months.
  • No annual fee.
  • Multiple business credit card perks.
  • Offers auto rental collision damage waiver.
  • Extended warranty on purchases.
  • Identity Theft Protection.
  • Travel accident and travel assistance insurance.
  • Trip cancellation insurance.
  • Cardholders can earn rewards on purchases everywhere State Farm Bank Business Visa is accepted.
  • State Farm Bank Business Visa reports to multiple credit bureaus.
  • Does not offer a signup bonus.
  • Charges a foreign transaction fee of 1%.
  • Charges a 3% balance transfer fee.
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.

Does it have an introductory APR offer?

Yes, this business card offers an introductory APR rate on balance transfers of 0% for a period of 6 months from account opening.

This business card does offer an introductory APR rate on new purchases of 0% for a period of 6 months.

State Farm business card Rates & Terms
Purchase APR 13.24% - 20.24%
Balance Transfer APR 13.24% - 20.24%
Cash Advance APR 24.49%
Penalty APR 28.49%

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 charge a foreign transaction fee?

This business card charges a foreign transaction fee of 1%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $20. If you travel abroad you may want to leave this business card at home and apply for one that doesn't charge a foreign transaction fee.

State Farm business card Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 1%
Balance Transfer Fee 3%
Minimum Balance Transfer Fee $10
Returned Payment Fee $39
Late Payment Fee $15 to $39

Does it offer a cash back rewards program?

This business credit 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

Does it have a sign up bonus?

This business credit card doesn't offer a cash signup bonus.

Does it offer an annual loyalty bonus?

This business card doesn't offer a cash loyalty bonus.

Can I get it with just an employer identification number (EIN)?

You can apply for this business credit card with your EIN number, but expect the credit card issuer to also require your Social Security number. This is because, as with most business cards, it requires you to personally guarantee the line of credit.

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.

How do people rate the customer service and user experience?

Overall, this business credit card is strongly not recommended based on community reviews that rate customer service and user experience.

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.
View State Farm Bank Business Visa's published terms & conditions.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From State Farm Bank Business Visa

Enjoy a low intro APR and earn cash back on all eligible purchases. Plus there’s no annual fee. Your eligible purchases will earn: 3% cash back on insurance premium payments, up to $4,000 spent annually. 3% cash back at gas stations, cell phone service providers, office supply stores and on dining, including takeout and food delivery service purchases. 1% cash back on all other purchases.

Feature Breakdown

Introductory Rate 0%
Purchase Intro APR Period (Variable APR) 6 months
Annual Fee $0
No Annual Fee
No Interest Grace Period for Late Payment 24 days
Cash Advance Fee (%) Up to 5%
Cash Advance Fee Minimum $10
Foreign Currency Transaction Fee 1%
Late Fee Amount $15 - $39
Minimum Cash Advance Fee ($) Starting at $10
Minimum Interest Charge $1.50
Over-Limit Fee $39
Returned Payment Fee $39
Customer Type Business
Minimum Age 18
Credit Score Range 650 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Identity Theft Protection
  • Auto Rental Collision Damage Waiver
  • Extended Warranty Protection
  • Purchase Protection
  • Trip Cancellation Insurance
  • Emergency Support
  • Fraud Liability
  • Travel Accident Insurance
  • Travel Assistance
Rewards Rates
  • Airfare
  • Car Rentals
  • Hotels
  • Office Supplies
  • Insurance
  • Every Purchase
Balance Computation Average daily balance (including new purchases)
Cash Advance APR (Variable APR) 24.49%
Penalty APR (Variable APR) 28.49%
Purchase APR (Variable APR) 13.24% - 20.24%
Balance Transfer Fee % 3%
Balance Transfer Fee % After Intro Period Starting at 3%
Balance Transfer Fee Minimum $10
Balance Transfer Intro APR Period (Variable APR) 6 months
Balance Transfer Introductory APR (Variable APR) 0%
Balance Transfer APR (Variable APR) 13.24% - 20.24%
Card Network Visa
Card Type
  • Rewards
  • Zero Percent

State Farm Bank Business Visa Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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