State Farm Credit Cards: Worth A Look?

State Farm Policy Holders can sign up for State Farm Credit Cards, some of which earn “State Farm Dollars” that can be applied towards insurance premiums. But how do these cards stack up against to the competition?

Verdict: There are much better credit cards out there. Keep reading – we’ll walk you through which ones and why.

Crystal Rewards & Platinum Rewards Review: Neither One Measures Up to Citi Forward In Terms of Rewards or APRs

Crystal Rewards offers the best rewards program out of State Farm’s mediocre bunch of credit cards, paying 1% in “State Farm Dollars” for the first $10,000 spent and 1.5% thereafter, but it comes with a $30 annual fee. Platinum rewards offers 0.5% for the first $3,500 spent and 1.0% thereafter, but has no annual fee.

But Citi Forward is better in every way…

If it’s rewards you’re interested in, you’re better off with the Citi Forward card. It has a better rewards program than both cards, with 5 points per $1 spent on dining and entertainment, and 1 point per $1 spent elsewhere. On top of that you get a 8,500 point signing bonus (10,000 points gets you a $100 gift card, so points are basically worth 1 cent).

And to top it all off, the card has no annual fee and a lower APR than both of the State Farm cards.

In fact, there are tons of other cash back cards with no annual fee that are better and have lower APRs, so you’re likely better off avoiding State Farm in this case.

State Farm Good Neighbor Credit Card Review: Low APR, but No Rewards

You can probably also do better than State Farm when it comes to APRs, plus score a rewards program to boot. While the Good Neighbor offers a decent 10.24% rate, you can do a lot better with one of Citi’s great offerings right now, 2 of which offer up to 18 months of 0% APRs – on both balance transfers and purchases. These two are the Platinum Select, and Cash Returns cards, both with no annual fees.

The Cash Returns even pays you 1% back, which beats the pants off of getting zilch with the Good Neighbor card. Though before you start thinking about earning toaster ovens and checks, keep in mind that you can easily end up spending more on interest than you earn on rewards, so we’d recommend you find the lowest APR card possible before you start worrying about rewards. Take some time and browse our extensive list, we even take balance transfer fees and introductory promotional periods into account when we do our calculations.

State Farm Business Visa Card Review

The Business Visa Card from State Farm is unremarkable in relation to some of the other business cards out there. It has a 1% reward rate and gives you 2% back on travel and office supplies, with no annual fee.

Better Options for Business Rewards

We’d argue that you’re much better off with a Costco Business Credit Card for rewards, where you earn Earn 1% on purchases, plus 4x on Gas, 3x on Restaurants, and 2x on Travel. Buying a ton of office supplies? Try Chase Ink Cash Business with 3% back on office supplies, gas stations, and restaurants, and 1% everywhere else.

Better Options for Business Low APR

For the lowest APR business card, we encourage you to sort every business credit card by APR, and come to your own conclusions. Bank of America has great 0% for 12 month introductory deals. And take note that Amex Blue for Business does even better, with 0% for up to 15 months.

We also have over 65 business credit cards that you can compare, so you can see for yourself what’s out there and find the one that’s right for you.

State Farm Student Visa: Pretty Good APR, but No Rewards

There are 4 ways to sort our student credit card list, and it should become clear very quickly that the State Farm Student Visa ranks poorly on all accounts. The problem is that it offers neither an introductory APR period, nor a rewards program.

Better Options For Student Rewards

For Rewards, we’d point you towards the Citi Forward Student Card for 5 points per $1 spent on dining and entertainment and 1 point per $1 spent elsewhere, but with a slightly higher APR than State Farm.

Better Options For Student APR

For a Low APR, the best ongoing rates are offered by Simmons Student Credit Card and KeyBank Student Credit Card. And the best introductory period comes from the Responsible Card from Fifth Third Bank.

So all in all, State Farm may not be your best option, but hopefully you’ve found some better alternatives in the meantime for your credit card search. Happy hunting!