State Farm Credit Card

By: EconomyWatch   Date: 11 October 2009

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Accepted anywhere Visa cards are accepted, the State Farm credit card offers a host of features, including exciting rates, rewards and online access. Besides these, State Farm also provides a yearly summary statement that facilitates the tracking of annual expenditure.

Types of State Farm Credit Cards

State Farm issues different kinds of credit cards that offer rewards for different kinds of credit users, from existing account holders to students. Some of the popular State Farm credit cards are:

·        Platinum Rewards Visa credit card: State Farm account holders enjoy the maximum benefits through this card, since all the rewards points are redeemable for State Farm’s financial products, such as mortgage, saving accounts or even insurance. Card holders can earn unlimited reward points, which are valid for five years. Other features are:

§         No annual fee

§         1 reward ‘State Farm Dollar’ for every dollar spent on the card

§         2.9% APR on balance transfers for up to 9 months with no fee

§         Cash advances fee of 3%

§          Average daily method for calculating balances

§         Warranty manager that extends the manufacturers’ warranty

§         Grace period of 20 days

·        Good Neighbor Visa credit card: This is a basic card that gets discounts from a limited number of merchants. Other features are:

§         No annual fee

§         0% APR on balance transfers for up to 9 months with no fee

§         3% fee on cash advances

§         Low purchase APR (prime rate plus 3.99% to 10.99%)

§         Free built-in protection of the account and identity

·        Student Visa credit card: This card is a good option for students due to its slightly lower APR and discounts at all the Visa Student reward merchants. Other features are:

§         No annual fee

§         No introductory APR and the APR rate is lower than most of the cards

§         Purchase APR of prime rate plus 8.99% (minimum of 13.99%)

§         Minimum balance of 3% of the balance or $10, whichever is greater

State Farm Credit Card: Payment Methods

State Farm credit card holders can make payments in the following ways:

·        Automatic payments from any banking institution and can pay minimum or the full payment

·        Payment over the phone (however this costs $10 per payment)

Besides these two options, State Farm credit card payments can be made in cash or via checks as well.

You can find out more about State Farm Credit Card at the http://www.statefarm.com/ website. State Farm Credit Card is a brand owned by State Farm Bank, part of the State Farm Group of Companies. State Farm Bank is a member of FDIC and an Equal Housing Lender.


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