topic Re: State Farm Redemption bonus in Personal Finance

State Farm Redemption bonus

Anonymous — Thu, 22 Mar 2018 19:29:44 GMT

I guess this is more of an FYI to share than anything else, but here goes for those they use State Farm.

Until a little over a year ago I did not know that State Farm had credit cards; they actully have all sorts of Banking products, but I have only used them for insurance purposes for over 20 years. (I need to research some things more I guess). Last year I applied for their Rewards card; they have a decent 12 month BT offer on it. The year is about up and I've got the BT paid.

While looking at actually using my card for insurance payments I noticed that they have a decent redemption bonus when redeeming points into a State Farm checking account. They offer 3% back for their insurance payments, and give at least 25% more when funds are deposited into a State Farm account; basic checking account doesn't cost anything to have open.

Not sure how many other companies out there offer something similar, but for those that use State Farm, there can be a little bit of a plus for using more of their products

Re: State Farm Redemption bonus

MakingProgress — Fri, 23 Mar 2018 15:22:18 GMT

@Anonymouswrote:
I guess this is more of an FYI to share than anything else, but here goes for those they use State Farm.

Until a little over a year ago I did not know that State Farm had credit cards; they actully have all sorts of Banking products, but I have only used them for insurance purposes for over 20 years. (I need to research some things more I guess). Last year I applied for their Rewards card; they have a decent 12 month BT offer on it. The year is about up and I've got the BT paid.
While looking at actually using my card for insurance payments I noticed that they have a decent redemption bonus when redeeming points into a State Farm checking account. They offer 3% back for their insurance payments, and give at least 25% more when funds are deposited into a State Farm account; basic checking account doesn't cost anything to have open.
Not sure how many other companies out there offer something similar, but for those that use State Farm, there can be a little bit of a plus for using more of their products

I did know about their banking products. I have a car loan with them as well as my insurance. Their interest rate was better than I could get from the dealer (it was through Cap One), and they include Gap Insurance with all loans at no cost.

Too bad I'm in the garden, or I might think about the rewards card.

Re: State Farm Redemption bonus

Anonymous — Fri, 23 Mar 2018 22:55:34 GMT

I had tried to get a refi on my car loan a couple of years ago after my agent recommended it. Didn’t really look at other products until later.
Overall, they are fairly conservative.
I posted more out of sharing what I’d found. I noticed a few other posts of CC approvals after I picked mine up last year