State Farm Good Neighbor Visa Credit Card Review

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Real opinions always: At Seek Capital, our goal is to provide content that helps you make informed financial decisions. All products featured here are from our partners. That said, our business relationships do not affect our evaluations. Opinions are of the writer alone.

From Seek Capital - Best for Balance Transfers

Welcome Offer

Competitive APR on Every Purchase

Enjoy a 0% introductory APR on balace transfers in the first 12 months

Earn

0%Introductory APR
0% introductory APR on balance transfers
24/7Good Neighbor Service
24/7 access to Good Neighbor Service
$0Fraud Liability Protection
$0 Visa Fraud Liability
24/7Travel Assistance
24/7 travel and emergency assistance available

State Farm Good Neighbor

The State Farm Good Neighbor Visa card is a great wallet workhorse with a decent introductory APR offer. Creditworthy cardholders who know how to put this tool to work can save $1,000 or more in interest expenses the first year and bring their credit card debt down substantially. Check out our write up to find out how and to learn more about the perks of this card

Rewards Highlights

  • No Annual Fee
  • 0% Introductory APR on Balance Transfers for 12 Months

Expert Review

The Pros

  • No Annual Fee
  • 0% APR on Balance Transfers

The Cons

  • Limited Rewards
  • Shorter Balance Transfer Period

Recommended Credit Profile

Rates & Fees

  • Annual Fee$0
  • Intro Balance Transfer APR0% for 12 months
  • Regular APR15.24% to 25.24%
  • Great ForRestaurantsTravelGas
  • Regular Purchase APR15.24% to 25.24%
  • Regular Balance Transfer APR15.24% to 25.24%
  • Cash Advance APR26.49%
  • Balance Transfer Fee$10 or 3%
  • Cash Advance Fee$10 or 5%
  • Foreign Transaction Fee3%

Save Hundreds With a Great Introductory Balance Transfer Offer

The State Farm Good Neighbor Visa is a great addition to your wallet, but it's not just a nice daily swiper. It comes with an introductory low APR offer that can help you curtail your debt.

Here's how it works. For creditworthy applicants, the State Farm Good Neighbor Visa comes with an introductory 0 percent APR that lasts for up to 12 months after you open the account. That offer works for balance transfers, which means you can transfer a balance from an existing card with a higher interest rate to your new State Farm Good Neighbor card. You can then make payments on that balance for up to 12 months without paying any additional interest expense.

How's that work out for your wallet? Let's consider a hypothetical example so you can see the math.

  • Perhaps you transfer a $3,000 balance from a card with a 19 percent interest rate.
  • If you pay down the $3,000 on the State Farm credit card (which has no interest for 12 months), you could pay $250 a month and zero the balance out in 12 months.
  • If you made the same $250 payment on the existing card with the 19 percent interest rate, you'd have to make 14 total payments instead of 12, and you'd pay a total of $1,156 more before your balance was zero.

By transferring your balance to a card with a 0 percent introductory APR offer, you save more than a thousand dollars in one year, which can really help you get a grip on any outstanding credit card debt.

Balance transfers aren't free, though. You will pay a 3 percent fee for the privilege (or $10, if the 3 percent fee is less than that). Unlike some other cards, though, the State Farm Good Neighbor Visa caps that balance transfer fee at a total of $250.

So, for the $3,000 transfer in our example above, you'd pay $90 to transfer the money. That still means you save more than a thousand in potential interest expenses.

A Card Packed With Worthy Perks

The State Farm Good Neighbor Visa card isn't just a one-and-done balance transfer opportunity. It's a great financial tool that comes with a bunch of perks that make your life easier and offer peace of mind as you travel or shop. Here's a look at some of the benefits that come with this card.

  • Visa's Zero Fraud Liability protection keeps you covered in the event your card is spoofed or stolen. If you didn't authorize the purchase, you're not likely to be on the hook for it. Plus, Visa offers identity theft protection that helps you recover if your identity is ever stolen, and fraud monitoring keeps you apprised of any suspicious activity on your account.
  • Travel and emergency assistance programs give you a place to call and someone to assist when you face the unexpected on the road or need help booking an upcoming trip.
  • Your card comes with the option of waiving car rental insurance if you pay for a rental car with the card. That means you don't have to pay for the additional insurance from the rental car company, but you're still covered in the case of an accident. If you travel a lot, that perk can result in hefty savings through the years.
  • Another benefits we love for travelers is the Via $250,000 Travel Accident Insurance that comes with this card. Book your travel with the state Farm Good Neighbor card and enjoy added peace of mind that a benefit will kick in to help you cover the costs should an accident occur.

The State Farm Good Neighbor Visa also comes with some great daily and money management perks. It works with Apple Pay, opening up flexibility at payment terminals across the world, and it's a Visa card that's accepted globally at both cash registers and ATMs. Chip technology keeps your payments more secure wherever you swipe, and you can keep an eye on your accounts via online and mobile access. Plus, the Good Neighbors at State Farm are always available to take your calls when you have an account or card problem.

Fees and Other Bottom Line Considerations

Aside from the balance transfer fee, the State Farm Good Neighbor Visa does come with a foreign transaction fee of 3 percent. That means for every $100 you spend outside of the United States (including in Canada and Mexico), you'll pay an extra $3. While the fee doesn't add up much on small tourist purchases during a day trip across the border, it could add up for frequent international travelers, making the State Farm Good Neighbor Visa primarily a choice for domestic use.

What the card doesn't have is an annual fee, which we very much appreciate. On a card with no rewards structure, we never like to see an annual fee, because it makes it hard to get any ROI out of it. Although you may save hundreds or a thousand dollars on interest the first year you have the card by doing a balance transfer, that's a first-year only perk. With no annual feel, you can continue to enjoy the other benefits of this card without worrying about paying out of pocket for them — as long as you pay your credit card balance off each month to avoid interest.

The TL;DR version of the story is this: The State Farm Good Neighbor Visa offers a nice balance transfer incentive for anyone looking to corral credit card debt. It's also got some nice benefits that makes it a steady swiper for your wallet after the first year.

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