Last updated on February 24th, 2023
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State Farm® Premier Cash Rewards Visa Signature® Card
State Farm® Premier Cash Rewards Visa Signature® Card
- 20.24% to 29.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 20.24% to 29.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The State Farm Premier Cash Rewards Visa Signature® Card from U.S. Bank is a cash back rewards card that offers value in a variety of categories. The card earns 3% back on insurance premium payments, 2% back on gas, groceries, dining, and drugstores, and features a cash back match after year one – all for no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- 3% cash back on insurance premium payments, up to $4,000 spent annually
- 2% cash back at gas stations, drug stores, grocery stores and on dining
- Regular Purchase APR: 20.24% to 29.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 20.24% to 29.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either 5% of the amount of each advance or $10 minimum, whichever is greater
- Foreign Transaction Fee: 3% of each foreign transactio
- Late Payment Penalty Fee: Up to $41
- Return Payment Penalty Fee: Up for $41
- You want a versatile cash back card with a rewards match after your first year
- You have an excellent credit score
- You want to earn rebates on your insurance premiums
- You do't want to pay an annual fee
State Farm Premier Cash Rewards Visa Signature® Card Review
The State Farm Premier Cash Rewards Visa Signature® is a cash back rewards card that provides plenty of value despite not featuring an annual fee.
Earn Up to 3% Back
The State Farm Premier Cash Rewards Visa Signature® earns 3% cash back on insurance premium payments, up to $4,000 annually. Interestingly, this cash back category applies to insurance premium that features the MCC code “insurance” and not just State Farm insurance premiums.
Beyond the 3% back on insurance premiums, the Premier Cash Rewards earns 2% back a wide array of other bonus categories, including:
- Gas stations
- Grocery stores
- Dining, including bars, fast food, and takeout and food delivery services
All other purchases with the card earn an unlimited 1% back.
Special Anniversary Cash Back Bonus
State Farm Premier Cash Rewards Card also comes with a special bonus. Cardmembers will have their cash back doubled on their first anniversary. U.S. Bank will double the cash back (up to $300 back) after the first anniversary of card membership.
This bonus is similar to the Cashback Match from Discover, although Discover doesn’t limit the total amount of cash back they match. Still, it is a decent bonus that provides significant value to the applicant that really plans to use their new card.
How to Redeem Rewards
Cash back with the State Farm suite of credit cards from U.S. Bank is redeemable in two ways: in the form of a statement credit or a deposit made to a savings or checking account or as a U.S. Bank Rewards prepaid card. The prepaid cards require a $25 minimum redemption.
A Competitive APR
While the State Farm Premier Cash Rewards Visa Signature® Card doesn’t provide any 0% introductory APR offers, like the Good Neighbor Visa, it still features a competitive APR on purchase and balance transfers. That rate starts as lows as around 15% for those with excellent credit – making it comparable to other lucrative rewards cards on the market.
s Card. Additionally, those purchases must be made directly with the software provider.
While this $100 statement credit isn’t the biggest discount, it is still a discount that can save smaller companies money at the end of a fiscal year.
Other Card Features
Other features of the State Farm Premier Cash Rewards Visa Signature® Card include:
- Cell phone protection for up to $600 when an eligible phone is stolen or damaged when you pay your monthly cell phone bill with the card.
- ID Navigator powered by NortonLifeLock
- Extended warranty protection, with an extra year of warranty coverage for eligible U.S. manufacturer goods with a one-year warranty or more.
- Travel and Emergency Assistance Services: 24/7 assistance for Signature cardholders anywhere in the world.
- Visa Signature Concierge: Customized customer service to help cardholders make reservations, buy tickets, and receive advice.
- Access to the Visa Signature Luxury Hotel Collection of over 900 luxury hotels worldwide.
- Visa Roadside Dispatch
- Auto Rental Collision Damage Waiver
- Zero Fraud Liability and purchase security
- 3% foreign transaction fee
Should You Apply for the State Farm Premier Cash Rewards Visa Signature® Card from U.S. Bank?
Overall, the State Farm Premier Cash Rewards Visa Signature® is a decent cash back card for those who want to save when they pay their insurance premiums. The 3% back in this category is excellent – as is the 2% back on a huge assortment of other categories.
While 2% back on dining, groceries, and drugstore purchases isn’t industry-leading, it points towards the card’s impressive versatility. The anniversary double cash back bonus is also enticing, though the $300 back limit leaves something to be desired – especially when compared to Discover’s Cashback Match. Other popular options include the Citi® Double Cash Card – 18 month BT offer (unlimited 2% back) and the Citi Custom Cash℠ Card.
Overall, the State Farm Premier Cash Rewards Visa Signature® is impressive enough to warrant a second look – and for the State Farm customer that wants to maximize their cash back, it might just deserve a spot in their wallet.
The information related to Citi Custom Cash Card and Citi Double Cash has been collected by BestCards.com and has not been reviewed or provided by the issuer or provider of this product or service.