topic Re: State Farm Credit Card in Credit Cards

State Farm Credit Card

laz98 — Mon, 10 Aug 2009 21:23:58 GMT

Anyone have, or know anything useful, about this credit card? My insurance keeps hounding me to apply for it. Most of my inquiries are going to fall off in September, so I am considering it.

Re: State Farm Credit Card

Anonymous — Mon, 10 Aug 2009 21:39:27 GMT

I was issued this card in Dec. 08 with a 17500 CL. The interest charges for me were 3.99+ prime, or no less than a minimum of 9.9%

I like this card because all of my insurance products are through State Farm, low interest rate, good credit line and it gives 1% cash back in "State Farm Dollars" you must apply to any State Farm Insurance Product.

It was a good fit for me.

Re: State Farm Credit Card

Anonymous — Mon, 10 Aug 2009 21:45:18 GMT

I have the rewards version and while I am happy with the company and the service they provide, the rewards are not very remarkable. Of course in the next few months we might be able to say that about any rewards card. The interest rate is resonable, I haven't heard of much AA by them and I've always had a good experience when I've called in. That is more than can be said of a lot of companies, so I would recommend them if you are just looking for another TL. They pay rewards at a straight 1% and they can only be redeemed at $50 and then only for State Farm Products. I think you could open a banking account with them and have the money deposited into it, but I've never looked into that. They also have a non-rewards card but I think the interest rate is about the same on either one.

If you are looking for another card they are probably as good as any although I'm not sure that their credit limits are on par with some of the other banks.

Re: State Farm Credit Card

Anonymous — Mon, 10 Aug 2009 21:57:43 GMT

@Anonymous wrote:
I have the rewards version and while I am happy with the company and the service they provide, the rewards are not very remarkable. Of course in the next few months we might be able to say that about any rewards card. The interest rate is resonable, I haven't heard of much AA by them and I've always had a good experience when I've called in. That is more than can be said of a lot of companies, so I would recommend them if you are just looking for another TL. They pay rewards at a straight 1% and they can only be redeemed at $50 and then only for State Farm Products. I think you could open a banking account with them and have the money deposited into it, but I've never looked into that. They also have a non-rewards card but I think the interest rate is about the same on either one.

If you are looking for another card they are probably as good as any although I'm not sure that their credit limits are on par with some of the other banks.

This may be an excellent reason in specific to have this card. I thought with all of the insurance products I have with them it might be more likely for a higher CL and maybe less likely to see any significant AA. Dunno yet...time will tell if this remains true. Heretofore not a word on any AA.

Message Edited by plasticman on 08-10-2009 02:57 PM

Re: State Farm Credit Card

Anonymous — Mon, 10 Aug 2009 22:28:55 GMT

I agree 100% plasticman, I've never had to wonder if a transaction was going to go through when I've used this card. I applied because I hadn't heard anything bad about them and as I stated I have been happy with them. They are a good, solid company and I will be keeping their card for a long time. Congratulations on the excellent credit limit.

Re: State Farm Credit Card

Anonymous — Mon, 10 Aug 2009 22:43:38 GMT

@Anonymous wrote:
I agree 100% plasticman, I've never had to wonder if a transaction was going to go through when I've used this card. I applied because I hadn't heard anything bad about them and as I stated I have been happy with them. They are a good, solid company and I will be keeping their card for a long time. Congratulations on the excellent credit limit.

Thanks hemi961,

I have worked very hard on my credit profile for many years.

Incidentally, One of the other reasons I applied with them was because I knew as an insurance company it was highly unlikely they were mired in bad debt resulting from the home foreclosure debacle.

Be well.....

Re: State Farm Credit Card

DI — Mon, 10 Aug 2009 22:59:08 GMT

I have the State Farm Rewards Card. I never had any problems with it. I stop using it after the teaser rate ended a year ago at which time I received CLI by request. I recently used it this past July to make sure it doesn't get close.

I won't use it again until October. I'm juggling 5 different cards to keep usage on them.

Re: State Farm Credit Card

laz98 — Tue, 11 Aug 2009 04:11:53 GMT

Thank you everyone for your comments! Hopefully my scores will improve a little more by the end of September.

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 04:23:30 GMT

The issuer for this card is State Farm Bank®, F.S.B., Bloomington, Illinois. This could be a very nice card to have.

(FSB = Federal Savings Bank)

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 04:25:16 GMT

FYI, It is in fact a relatively new product issued by State Farm Bank.

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 04:40:45 GMT

Do you know which CRA they pull?

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 04:47:10 GMT

They pulled TU for me, I live in AZ., and have done a soft pull on TU once since I have had it.

The hard inquiry fell off my CR in 4 months as well.

Message Edited by plasticman on 08-10-2009 09:47 PM

Re: State Farm Credit Card

laz98 — Tue, 11 Aug 2009 04:50:32 GMT

@Anonymous wrote:
They pulled TU for me, I live in AZ., and have done a soft pull on TU once since I have had it.

The hard inquiry fell off my CR in 4 months as well.
Message Edited by plasticman on 08-10-2009 09:47 PM

lucky you!!! if only my inquiries could be more like your inquiries...

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 04:52:54 GMT

This gift only seems to happen on my TU report. EQ. and EX. seem to have a long memory. LOL

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 04:53:47 GMT

I'm in AZ too and they pulled TU. From all I read prior to applying it seems that they primarily pull TU no matter where you live.

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 04:55:45 GMT

Is approval instant?

Re: State Farm Credit Card

laz98 — Tue, 11 Aug 2009 04:56:33 GMT

@Anonymous wrote:
I'm in AZ too and they pulled TU. From all I read prior to applying it seems that they primarily pull TU no matter where you live.

REALLY!!!! that's very good to hear....my TU will only have 3 inquiries at the end of the month. everyone seems to pull EQ & EX where i live.

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 05:02:58 GMT

If you have insurance with State Farm and want a quick approval call or go see your insurance agent. I knew instantly when I applied for that primary reason. If you call into State Farm Bank or apply online I beleive it may take 48 hours or more to find out the answer.

Incidentally, your State Farm Agent gets some sort of reward if you apply through them. So it is better for you and them if you include your agent in the application process.

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 05:06:44 GMT

My approval wasn't instant, I called the next day and was approved. I don't remember if they had an automated system or not, but it seems that I spoke to someone. Do a search on here for TU pullers and I think State farm will come up quite often. Best of luck.

Re: State Farm Credit Card

Anonymous — Tue, 11 Aug 2009 05:07:47 GMT

@Anonymous wrote:
If you have insurance with State Farm and want a quick approval call or go see your insurance agent. I knew instantly when I applied for that primary reason. If you call into State Farm Bank or apply online I beleive it may take 48 hours or more to find out the answer.

Incidentally, your State Farm Agent gets some sort of reward if you apply through them. So it is better for you and them if you include your agent in the application process.

Spiffs are good. He'll love ya for it!