State Farm Rewards Visa Credit Card

State Farm Rewards Visa Credit Card Review

This is a rewards credit card issued by State Farm. If you're wondering whether State Farm credit card is the right card for you, read on.

Key Takeaways

• 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 12 months, which is the average period for 0% APR balance transfer cards.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 12 months.
• Competitive APRs. State Farm Rewards Visa Credit Card has a variable purchase APR that ranges from 14.24% up to 24.24%.
• 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 Rewards Visa Credit Card 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 3% every time you make a transaction outside the U.S.
• Accepts cosigners. State Farm is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, extended warranty protection on purchases, identity theft protection, travel accident insurance, travel assistance, 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 credit card

The Good

The Bad

Potentially lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 12 months. 0% APR on new purchases during the first 12 months. There is then a variable purchase APR that ranges from 14.24% up to 24.24%. No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Extended warranty on purchases. Identity Theft Protection. Travel accident and travel assistance insurance. Cardholders can earn rewards on their purchases. State Farm Rewards Visa Credit Card reports to multiple credit bureaus.

Does not offer a signup bonus. Charges a foreign transaction fee of 3%. Charges a 3% balance transfer fee.

State Farm credit card FAQ

Does State Farm credit card have a cash back or rewards program?

State Farm credit card is a rewards card.

State Farm credit card Rewards

Minimum rewards rate	1x
Max rewards rate	3x
Annual rewards limit	N/A
Signup Bonus ($)	N/A

What are the State Farm credit card benefits?

It provides the following benefits:

• Auto Rental Collision Damage Waiver
• Emergency Support
• Extended Warranty Protection
• Zero fraud liability
• Travel Accident Insurance
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for State Farm credit card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

State Farm Rewards Visa Credit Card has a variable purchase APR that ranges from 14.24% up to 24.24%. The card has a variable balance transfer APR that ranges from 14.24% up to 24.24%. It also has a variable cash advance APR of 24.49% .

What are the fees for State Farm credit card?

The following fees apply:

• There is no overlimit fee

State Farm credit card Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$0
Foreign Transaction Fee	3%
Returned Payment Fee	up to $40
Late Payment Fee	up to $40

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost rewards card.

Does State Farm Rewards Visa Credit Card report your account activity to credit bureaus?

Yes, State Farm Rewards Visa Credit Card 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 for State Farm credit card

• Visit the State Farm credit card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.