| Last updated on November 14th, 2023
State Farm Bank® Business Visa®
State Farm Bank® Business Visa®
- 14.74% to 21.74% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 14.74% to 21.74% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 25.99% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 3 points for every $1 spent on insurance premium payments
- Earn 2 points for every $1 spent on eligible travel and office supply purchases.
- Earn 1 point for every $1 spent on all other eligible purchases
- No annual fee
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 14.74% to 21.74% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 6 months from account opening date
- Balance Transfer APR: 14.74% to 21.74% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each balance transfer, whichever is greater
- Cash Advance APR: 25.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Penalty APR: 25.99
- Foreign Transaction Fee: 1% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $39
- Return Payment Penalty Fee: $39
At a Glance
The State Farm Bank Business Visa is a business rewards credit card from State Farm Bank. The card is designed with today’s modern business owner in mind, as it offers the chance to earn rewards for a variety of everyday and monthly spending, as well as a competitive APR. The card also features no annual fees, and an impressive 0% introductory APR on both purchases and balance transfers for the first six months after opening an account.
Ideal for Those Who:
- Want to earn rewards for your business’ everyday spends
- Don’t want to pay an annual fee
- Want 0% APR for 6 months on balance transfers and purchases
State Farm Bank Business Visa Review
Aiming to entice business owners, the State Farm Bank Business Visa is a business rewards credit card that offers substantial rewards for everyday business expenditures. The card earns triple points (3 points for every dollar spent) on insurance premium payments of up to $4,000 a year, double points on eligible travel and office supply purchases, and single points for all other purchases made with the card.
The impressive rewards earning potential of the card makes it easier than ever for companies to get rewards back for their typical costs. Rewards available from the State Farm Loyalty Rewards® program include discounts on eligible State Farm® products and services, gift cards from leading retailers, magazines, restaurants, airlines, and more, or as transferrable points to friends or family members. The redemption options available make the State Farm Bank Business Visa a great tool when it comes to rewarding employees for their hard work and dedication – without breaking the bank.
The State Farm Bank Business Visa also benefits from an impressive introductory offer of 0% APR on both purchases and balance transfers for the first 6 months, and an extremely competitive typical APR for those companies with good credit after that. The intro APR offer is a great feature, especially for small to medium-sized companies, as it allows them to carry a balance for the first 6 months if necessary.
Should You Apply for the State Farm Bank Business Visa?
Overall, this is a very good rewards credit card for business that wants a hassle-free way to get awards for their day-to-day expenses and bills. When adding in the suite of protections companies have come to expect from Visa, including purchase protection, fraud and identity theft protection, travel and emergency assistance, and automotive rental collision damage waivers, and you have the makings of a very robust business card indeed.
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