While thought of mainly as an insurance company, State Farm also offers a number of other banking products through its State Farm Bank, including the 4 credit cards we review below:
- The State Farm Rewards Visa is a rewards card that gives you points to be used in the State Farm Loyalty Rewards program. You get 3 points per dollar on State Farm insurance premiums paid with the card and 1 point per dollar on all other card purchases. You can use your points toward gift cards, travel rewards, and other State Farm financial products. If you save up your points over the 25,000-point level, you can get redemption bonuses when you redeem your points into certain State Farm deposit accounts. Nevertheless, it’s not a very noteworthy rewards program — we’d suggest looking at other cash back credit cards.
- The State Farm Good Neighbor Visa is a no-frills card that offers the lowest interest rate of the State Farm credit cards, as low as 11.74%, although the terms of the card say that you could also be approved at a rate as high as 18.74%. If interest rate is your biggest concern, then this is the State Farm card for you. However, there are other low interest cards on the market that are even better.
- The State Farm Student Visa credit card offers no rewards but is obviously designed to approve students looking for their first credit card. Interest rate range of 11.74% – 18.74% is pretty favorable for a student card.
- The State Farm Bank Business Visa also offers State Farm Loyalty Rewards points. You get 3 points per dollar on State Farm insurance premiums, 2 points per dollar on travel and office supply purchases and 1 point per dollar on all other purchases. An OK card, but there are better small business credit cards out there.