State Farm Logo
star star star star star_half
LAST UPDATED: November 2nd, 2022
State Farm was founded in 1922 by a retired farmer who wanted to provide automobile insurance to fellow farmers. It was so successful that the company began to offer other types of insurance and financial services. Although automobile insurance continues to be its main business, State Farm also offers homeowners and life insurance, as well as various banking and financial services.

Top Ranked Companies


The Good

  • Competitive APRs
  • Rewards program
  • No annual fees
  • Security features

Competitive APRs

For some of its cards, State Farm offers an introductory rate of 0 percent for the first 12 months. After that, variable APRs range from 11.74 to 18.74 percent*, depending on the card. These rates are very competitive among rates offered by other top credit card companies.

Rewards Program

Through State Farm's Loyalty Rewards program, cardholders have the opportunity to earn points that can be redeemed for gift cards, e-certificates, catalog merchandise, travel, and eligible State Farm products.

No Annual Fees

State Farm does not charge an annual fee that must be paid in order to be a cardholder, which can save customers hundreds of dollars each year.

Security Features

State Farm has put a number of security measures in place to protect its cardholders. For example, the company embeds all of its cards with microchip technology and offers zero fraud liability, meaning that customers are not held liable for unauthorized charges. Identity theft protection features are also provided with select cards.

The Bad

  • Lack of information

Lack of Information

State Farm is not entirely transparent on its corporate website. The company has not disclosed whether or not it charges late payment or foreign transaction fees, which can be frustrating for potential customers who would like to have an idea of what kinds of fees they are going to be subject to before signing up.

The Bottom Line

State Farm offers competitive APRs, a rewards program, no annual fees, and a number of security features. However, the company has not disclosed whether or not it charges late payment or foreign transaction fees.
Was this content helpful?
thumb_up Yes thumb_down No

Star Rating


star star star star star_half

5 Reviews

Review Breakdown

5 grade


4 grade


3 grade


2 grade


1 grade


Sentiment Criteria


star star star star star_border


star star star star_half star_border


star star star star_border star_border


star star star star_half star_border

Filter by:


Sort by:

star star star star star

Cindy Wilson

No annual fee, cash back rewards to use for State Farm premium insurance payments or to use as a credit to credit card account. Low interest rate on purchases.

3 years ago

star star star_border star_border star_border

Zac Cannon Long Beach, MS

I had State Farm for a few years. Their rates are way overpriced. I will say the benefits are okay, but unfortunately they are not like a good neighbor and will drop you quick.

3 years ago


Review Source

star star star star star

Pete Dizbon Sequim, WA

This company has been a lifesaver over the decades + excellent customer service !

1 year ago


Review Source

star star star star star

Barbara Morgan Charlotte, NC

Y'all are by far the best company to go for! And the cheapest!

1 year ago


Review Source

star star star star star

Eileen Lancaster Killen, AL

Always liked using State Farm. Great price, reliable company

1 year ago