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State Farm Rewards Visa Credit Card

in Personal Credit Cards

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State Farm Rewards Visa Credit Card

Unaffiliated

in Personal Credit Cards

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Overview

Who is State Farm Rewards Visa Credit Card Designed For?

The State Farm Rewards Visa is designed for State Farm policyholders with good credit who want a balance transfer card with low rates, a rewards program and no annual fee. It's particularly attractive for people who spend a lot on State Farm insurance policies.

What are the Rates?

The main feature of the State Farm Rewards Visa is not its rewards program but its introductory APR offer. New cardholders receive a 0% APR for the first 12 months on purchases and balance transfers. Once the intro APR expires, regular purchases and balance transfers come with a rate ranging from 14.74% APR to 21.74% APR, depending on creditworthiness, which still isn't bad. Cash advances have a fixed rate of 21.74% APR for all cardholders and there is no penalty rate for late payments.

What Are the Fees?

State Farm's Rewards Visa doesn't have an annual fee, which is just as well considering the rate at which cardholders earn rewards. However, it does have a $10 or 3% fee (whichever is greater) on balance transfers and cash advances, plus a 3% foreign transaction fee.

Although there's no penalty rate to worry about, it does have a $38 fee on late payments and returned payments. The card also includes sneaky additional fees, such as a $5 statement reprint fee and a $15 per hour account research fee.

What Is the Rewards Program Like?

State Farm's Rewards Visa rewards program is rather disappointing. It does offer 3 points per $1 spent on the first $4,000 of insurance payments during the first year, but it drops to 1 point per $1 after that. All other purchases offer 1 point per $1 spent. Points do not expire and can be redeemed for merchandise, travel and State Farm products. 

What about the Signup Bonus?

There isn't a signup bonus.

Any Other Benefits?

State Farm's Rewards Visa card comes with a $250,000 travel accident insurance, auto rental collision damage waiver, travel and emergency assistance services, account fraud monitoring and zero fraud liability.

How Is It Better Than Other Credit Cards?

State Farm's Rewards Visa offers reasonable rates and a long 0% APR introductory offer on balance transfers and purchases. If you're looking for a balance transfer card to help you repay a small credit card balance but still want to earn some rewards on your purchases, this card is worth considering.

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Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period / Deferred Interest (Months)
24
Over-Limit Fee
$0
Annual Fee
$0
No Annual Fee
Late Payment Penalty
$38
Returned Payment Fee
$38
Minimum Interest Charge
$1.5
Foreign Currency Transaction Fee
3%
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Credit Score Range
640 - 850
850 300 640
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Co-signing Allowed
Minimum Age
18
Customer Type
Personal
Card Type
  • Balance Transfer
  • Rewards
  • Zero Percent
Card Network
  • Visa
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Extended Warranty Protection
  • Fraud Liability
  • ID Theft Protection
  • Travel Accident Insurance
  • Travel Assistance
Car Rental Insurance
Extended Warranty
Fraud Liability
Travel Insurance
Emergency Support
Bonus Rewards
3x
Rewards Categories
  • Every Purchase
  • Insurance
All Other Purchases
1 point for every $1
Every Purchase
3 points for every $1 spent
No Reward Expiration Period
Purchases APR (variable)
14.74% - 21.74%
0% 29%
Balance Computation
average daily balance (including new purchases)
Introductory Rate
0%
Balance Transfer APR (variable)
14.74% - 21.74%
8% 29%
Transfer Fee
3%
Transfer Fee Minimum
$10
Transfer Fee
3%
Introductory Rate
0%
Intro APR period (months)
12

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2
2 total votes
Purchases APR (variable) 12.74% - 19.74% 0% 29%
Balance Transfer APR (variable) 12.74% - 19.74% 8% 29%
Annual Fee $0 Annual Fee
Credit Score Range 700 - 850 300 850