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Last updated on February 9th, 2022
Farmers® Rewards Visa®
- Regular Purchase APR 13.49%, 17.49%, or 20.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 26.99% variable based on the Prime Rate
- Cash Advance APR 22.49% variable based on the Prime Rate
- Annual Fee None
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Credit NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.Good
- Intro Purchase APR 0% for 12 months from account opening date
- Processing Network Visa
- 3X points on Farmers products, gas, and home improvement purchases
- 3,000 bonus points for spending $500 in the first 90 days
- 0% purchase APR for 12 months
- Annual thank you bonus of 1,000 points
- No annual fee
- Points never expire
- Intro Purchase APR: 0% for 12 months from account opening date
- Regular Purchase APR: 13.49%, 17.49%, or 20.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 26.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 5% of the amount of the balance transfer, whichever is greater
- Cash Advance APR: 22.49% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of the cash advance, whichever is greater
- Late Payment Penalty Fee: Up to $41
- Return Payment Penalty Fee: Up to $41
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At a Glance
The Farmers® Rewards Visa® offers a lot more than you might expect from a credit card from an insurance company. Earn 3X points per $1 on Farmers Insurance products, gas, and home improvement purchases; annual bonus points as well as a solid one-time signup bonus – all with no annual fee.
Ideal for Those Who:
- Have multiple Farmers Insurance policies
- Want rewards for home improvement purchases
- Have upcoming home improvement projects within the next 12 months
- Want a card with no annual fee
Farmers® Rewards Visa Review
If you’re enrolled in any kind of Farmers Insurance policy, you’ll find yourself well rewarded with the Farmers® Rewards Visa® credit card. Enjoy 3X points on popular reward categories including gas and home improvement and an annual cardholder bonus just for owning the card. There is no annual fee so any current or future Farmers Insurance customer would benefit from owning the card, even if only for Farmers Insurance products.
Best Use of the Farmers Reward Card
While the cash value of the signup bonus isn’t substantial, it should be easy to meet regardless of your spending habits. Capitalize on your spending requirement outside by using the Farmers Rewards card as your go-to gas card for the next 3 months.
Homeowners and DIY home repair enthusiasts will find this card a useful addition to their financial toolkit for more than just the 3X points on home improvement purchases. Offering 12 months of 0% APR, use the Farmers Insurance credit card to fund your projects (while also earnings triple the points on every dollar) completely interest-free.
Earning & Redeeming Points
When it comes to earning and spending your points, the Farmers® Rewards Visa is very straightforward (and points never expire which is a huge plus). Each point is worth 1¢ and can be redeemed for statement credit (minimum $25), travel, gift cards, or merchandise. While your earnings probably won’t be enough to cover any insurance premiums, it certainly doesn’t hurt to put part of those payments back into your own pocket. If you spent $100 on insurance each month, you’d earn a modest $36 back per year.
If you’re still on the fence whether it’s worth applying for the Farmers® Rewards Visa®, this is one of the few retail cards that offer an annual cardholder bonus just for you keeping the account open. Every year you’ll receive 1,000 bonus points (a value of $10) just for owning this free credit card.
Should you Apply for the Farmers® Rewards Visa?
Overall, the Farmers® Rewards Visa could be a worthwhile card that continually provides value year after year for those who have multiple insurance policies with Farmers Insurance. With no annual fee – and a surprising range of popular bonus categories – this card offers far more than just returns on insurance purchases. While the earning potential is better geared towards homeowners, this card could easily fit into anyone’s current rotation of go-to reward credit cards.
