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NerdWallet > Business Credit Cards > State Farm State Farm Bank Visa Business Card
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State Farm State Farm Bank Visa Business Card
State+Farm State+Farm+Bank+Visa+Business+Card Credit Card

(3/5 - 9 Votes)
Net Annual Rewards
$216
of State Farm Dollars
Reward Rate
1.00%
Annual Fee
$0
Signing Promo
None
APR, variable*
Min APR:
13.24%
Max APR:
20.24%
Default:
24.24%
Cash Adv:
20.24%
Intro APR Promotions
Purchase:
0% for 6 mos
Transfer:
None
Summary
  • Earn 1 point per $1 spent on purchases
  • 2% on travel and office supplies, as classified by Visa

Compare To Our Most Popular Cards For The Category

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Compare To Capital One® Spark℠ Miles for Business

Why do we think you should consider this card?

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Reward Details & Calculator

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Rewards Type: State Farm Dollars

Signing Promotion
$0
Estimated Annual Rewards
$21,600 * 1.00%
$216
Annual Fee, 2 yr avg
$0
Annual Rewards (Rewards less Fees)
$216

Calculate Interest & Finance Charges

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Use the sliders to the left to calculate balance transfer interest and APR interest for this particular card.

Finance Charge, Balance Transfer of $10,000*

Balance Transfer Fee, 3.0%
$300
APR, 24 months
$3,103
Total
$3,403

*Average APR for Balance Transfers of 14.7% includes transfer fees and APR promotions.

Effective Annual Rate, Purchases

Promo EAR, 6 months
0.00%
Ongoing EAR, 18 months
14.07%
Total EAR, 24 months
10.38%

APR Rankings

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APR
13.24%
ranks #1285 out of 1751 cards.
Average is 11.78%.
Balance Transfer Fee
3%
ranks #905 out of 1639 cards.
Average is 1.67%.
Cash Advance APR
20.24%
ranks #500 out of 1002 cards.
Average is 18.74%.

Rewards Rankings

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Annual Fee
$0
ranks #1 out of 1773 cards.
Average is $9.
Base Reward Rate
1%
ranks #69 out of 963 cards.
Average is 0.99%.
Effective Reward Rate
1%
ranks #187 out of 958 cards.
Average is 1.04%.
Sign-up Bonus
$0
ranks #1762 out of 1762 cards.
Average is $33.
Credit Card Review: State Farm State Farm Bank Visa Business Card


Author:
NERDBOT

Get an unbiased review of the State Farm State Farm Bank Visa Business Card from the nerds who know finance! We'll give you our take on the perks and drawbacks of this card and tell you how it stacks up against the Ink Cash℠ Business. (Want to check your credit score first? Ask the nerds!)

NerdWallet Review: The State Farm State Farm Bank Visa Business Card

No annual fee: There's no annual fee for the State Farm State Farm Bank Visa Business Card. This means it's ideal for those who don't put much on their cards, and want to keep the card open for a long time. Keeping no-fee accounts open boosts your credit score. Check out more no-fee cards here.

Promotional APR period: This card comes with an intro APR period. This has the benefit of allowing you to make a large purchase and avoid interest payments for a while as you're paying down the debt.

Credit Card Showdown: State Farm State Farm Bank Visa Business Card vs. Ink Cash℠ Business

Higher cash advance APR: The cash advance APR is greater than Ink Cash℠ Business's. If you withdraw cash from a teller at a bank or from an ATM, you'll pay more. Keep in mind too that cash advances start accruing interest that very day, so the difference in interest rates can be exacerbated if you wait awhile to pay it back.

Same late payment fee: The State Farm State Farm Bank Visa Business Card and the Ink Cash℠ Business have the same late fee. Of course, you should avoid incurring late payment fees anyway. Besides having to pay a one-time charge, but you may incur a hefty penalty APR that lasts for at least six months.

Smaller signup bonus: The State Farm State Farm Bank Visa Business Card has a smaller signup bonus than its competitor, so you leave some money on the table to begin with. Of course, that isn't the only thing that matters about a card, but still, good to know.

Read the full review of the Ink Cash℠ Business on our blog

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