State Farm® Business Cash Rewards Visa Signature® Review for 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
State Farm® Business Cash Rewards Visa Signature® is a small business credit card from State Farm, a prominent insurance provider, in collaboration with U.S. Bank. It offers several cash back mechanisms for different purchases and no annual fee for those with good to excellent credit scores.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
State Farm® Business Cash Rewards Visa Signature®
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those with existing insurance premiums with State Farm
Intro APR
0% Introductory APR on purchases and balance transfers for 12 billing cycles
Regular APR
17.74% to 26.74% variable
Annual Fee
$0
Credit Needed
Good, Excellent
- 3% cash back on State Farm insurance premium payments, up to $4,000 spent annually
- 3% cash back at gas stations, cellphone service providers, office supply stores and on dining, including takeout and food delivery service purchases
- 1% cash back on all other eligible purchases
- $100 credit to your State Farm Business Cash Rewards Account within two statement billing cycles after 11 consecutive months of eligible software service subscription purchases
Pros
- Doesn’t charge annual fees
- Earn cash back on State Farm insurance premiums
- With auto insurance deductible reimbursement
Cons
- Charges foreign transaction and balance transfer fees
- No rewards for new cardholders
- Purchases greater than $200 are not considered automotive gasoline purchase, and won’t qualify for the gas station category
- Auto deductible reimbursement: State Farm allows you to cut down on unexpected expenses by getting reimbursed up to $200 of your auto policy deductible after experiencing a covered loss for as long as you made a minimum of eight net purchases in the past month.
- Cellphone protection: You can protect your cellphone every time you pay your bills and your eligible cellphone can be reimbursed up to $600 should it be stolen or damaged after paying your monthly cellphone bills
- Personal identity theft: This feature provides reimbursement for the covered expenses incurred to restore your identity.
- Purchase security: New items can be protected against theft or damage for the first 90 days from the date of purchase with your State Farm® Business Cash Rewards Visa Signature®
Intro APR
0% Introductory APR on purchases and balance transfers for 12 billing cycles
Regular APR
17.74% to 26.74% variable
Annual Fee
$0
Credit Needed
Good, Excellent
- 3% cash back on State Farm insurance premium payments, up to $4,000 spent annually
- 3% cash back at gas stations, cellphone service providers, office supply stores and on dining, including takeout and food delivery service purchases
- 1% cash back on all other eligible purchases
- $100 credit to your State Farm Business Cash Rewards Account within two statement billing cycles after 11 consecutive months of eligible software service subscription purchases
Pros
- Doesn’t charge annual fees
- Earn cash back on State Farm insurance premiums
- With auto insurance deductible reimbursement
Cons
- Charges foreign transaction and balance transfer fees
- No rewards for new cardholders
- Purchases greater than $200 are not considered automotive gasoline purchase, and won’t qualify for the gas station category
- Auto deductible reimbursement: State Farm allows you to cut down on unexpected expenses by getting reimbursed up to $200 of your auto policy deductible after experiencing a covered loss for as long as you made a minimum of eight net purchases in the past month.
- Cellphone protection: You can protect your cellphone every time you pay your bills and your eligible cellphone can be reimbursed up to $600 should it be stolen or damaged after paying your monthly cellphone bills
- Personal identity theft: This feature provides reimbursement for the covered expenses incurred to restore your identity.
- Purchase security: New items can be protected against theft or damage for the first 90 days from the date of purchase with your State Farm® Business Cash Rewards Visa Signature®
When evaluating cash back business credit cards like the State Farm® Business Cash Rewards Visa Signature®, we give the most weight to ongoing rewards. We also look at the introductory rewards, annual fee, introductory and ongoing annual percentage rates (APRs), and card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 15 | 30 |
Introductory Rewards | 0 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 12 | 15 |
Introductory APR | 10 | 10 |
Ongoing APR | 8 | 10 |
Total Score | 60 | 100 |
Who the State Farm® Business Cash Rewards Visa Signature® Is Best For
- Those with an insurance policy with State Farm: The card is only available to State Farm insurance customers.
- Those who make purchases at gas stations, office supply stores, and restaurants: You can earn 3% cash back rewards from eligible purchases, including gas, office supplies, and restaurants.
If this isn’t the card for you, then check out our recommended alternatives below.
State Farm® Business Cash Rewards Visa Signature® Fees
APR
- Introductory APR on purchases: 0% for the first 12 billing cycles
- Introductory APR on balance transfers: 0% for the first 12 billing cycles for balances transferred within 60 days from account opening
- Ongoing APR on purchases and balance transfers: 17.74% to 26.74%, variable depending on the prime rate
- Cash advance APR: 29.74%, variable depending on the prime rate
- Penalty APR: 30.99% variable, which will adjust with the prime rate; will apply to your account if you do one of the following:
- Make a payment five calendar days late twice or 30 calendar days once
- Make a returned payment
- Exceed your credit limit twice in 12 consecutive months
Penalty APR will apply until you make six consecutive minimum payments when due and don’t exceed your credit limit during the period.
Fees
- Annual: None
- Balance transfer and convenience check cash advance: Either $5 or 3% of the amount transferred/advanced, whichever is higher
- Foreign transaction: 3% of each foreign transaction
- Cash advance, cash advance ATM, and cash equivalent advance: Either $10 or 5% of the amount of each transaction, whichever is greater
- Overdraft protection: None
- Late payment, returned payment, and overlimit: $40
- U.S. Bank ExtendPay®: A monthly fee of no more than 1.6% of the original principal amount in a U.S. Bank ExtendPay® Plan or U.S. Bank ExtendPay® Loan
Your due date is within 24 to 30 days after the close of each billing cycle.
State Farm® Business Cash Rewards Visa Signature® Rewards
- 3% cash back on State Farm insurance premium payments, up to $4,000 spent annually
- 3% cash back at gas stations, cellphone service providers, office supply stores, and restaurants, including takeout and food delivery service purchases
- 1% cash back on all other eligible purchases
- $100 credit to your State Farm Business Cash Rewards Account within two statement billing cycles after 11 consecutive months of eligible software service subscription purchases
How To Make Payments in the State Farm® Business Cash Rewards Visa Signature®
- U.S. Bank mobile app: Download the iOS and Android apps
- Online: Log in to State Farm’s online website, click on “Pay Online,” and follow the prompts
- Phone: Call the Cardmember Service at (833) 728-0344 to set up a phone pay account
- Mail: Indicate your account number on your check, and send your payment to the following address:
Cardmember Service
PO Box 790408
St. Louis, MO 63179-0408
To avoid late fees, allow at least five to seven calendar days prior to the due date indicated on your monthly credit card statement.
State Farm® Business Cash Rewards Visa Signature® Features
- Auto deductible reimbursement: Get reimbursed up to $200 of your auto policy deductible after experiencing a covered loss for as long as you made a minimum of eight net purchases in the past month.
- Cellphone protection: Your eligible cellphone can be reimbursed up to $600 should it be stolen or damaged after paying your monthly cellphone bills.
- Personal identity theft: This provides reimbursement for the covered expenses incurred to restore your identity. You can get up to a maximum of $5,000 as a result of a covered stolen identity event.
- Purchase security: New items purchased with this card can be protected against theft or damage for the first 90 days from the date of purchase.
State Farm® Business Cash Rewards Visa Signature® Alternatives
American Express Blue Business CashTM
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
- American Express Blue Business CashTM is best suited for those wanting a flexible credit limit
- Features Expanded Buying Power, allowing you to spend over your credit limit
- Offers 0% introductory APR on purchases for the first 12 billing cycles
- Lets you earn 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% cash back thereafter
- Is our best cash back business credit card and our best business credit card for the self-employed
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
0% APR for 15 billing cycles
Intro APR
Regular APR
18.99% - 27.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
Regular APR
18.99% - 27.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is ideal if you want a longer interest-free financing period
- Comes with a 0% introductory APR on both purchases and balance transfers for the first 15 billing cycles
- Doesn’t charge annual fees
- Offers 5% cash back on prepaid hotels and car rentals directly booked in the Rewards Center, 3% cash back on eligible purchases at gas and electric vehicle (EV) charging stations, office supply stores, cellphone service providers, and restaurants, and 1% cash back on all other net purchases
- Is one of our top-recommended 0% APR business credit cards
Chase Ink Business Unlimited®
- Chase Ink Business Unlimited® is a great choice if you’re on a tight budget and want a fixed-rate rewards card
- Offers an interest-free financing option of 0% on purchases for the first 12 billing cycles
- Lacks annual fees
- Has unlimited 1.5% cash back on all business-related purchases
- Is our best small business credit card and leading credit card for new businesses with no credit history
Bottom Line
State Farm® Business Cash Rewards Visa Signature® is a cash back small business credit card best for business owners with active insurance policies with State Farm. What makes it unique is, it offers 3% cash back on insurance premiums, with up to $4,000 spent annually—alongside 3% cash back at gas stations, cellphone service providers, office supply stores, and restaurants and 1% cash back on all other eligible purchases. However, it charges foreign transaction and balance transfer fees and lacks introductory rewards.