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I’m assuming most people don’t even know State Farm issues credit cards.

After all, the company is better known for its insurance products than anything else.

But it does indeed issue credit cards, mortgages, and other types of loans, while also offering checking and savings accounts via State Farm Bank.

The way State Farm sees it, why should they stop at insurance when they can provide/cross-promote related financial instruments to their customers – and make a killing doing so?

So how do State Farm credit cards stack up?

Well, there are five State Farm credit cards currently offered by the company, including a couple rewards cards, a low rate credit card, a student credit card and a business credit card.

The rewards cards offer between 1-1.5% back in State Farm Dollars, which can be used for State Farm products, such as insurance, bank products and services, and so on.

Some of their credit cards also have a FixPay option, where you get to choose the number of payments and corresponding Annual Percentage Rate (APR) you’d like to pay related to a large purchase or unexpected expense.

Nothing groundbreaking really, just a payment plan to help people tackle their credit card debt if they can’t do so on their own.

State Farm credit cards don’t have any 0% APR promotional periods on purchases or balance transfers, but some come with promo APR as low as 2.9%.

Again, nothing to get too excited about, given many credit card issuers offer 0% on both for as long as 24 months these days.

And none of their offers are fixed-rate credit cards, another negative if you’re after low APR.

The Verdict

In closing, a State Farm credit card isn’t really something I would seek out, as there are much better deals in basically every class of credit card.

And who really wants their rewards to be stuck within the company when there are cash back credit cards out there that put money back in your wallet?

State Farm is smart to offer credit cards alongside their other financial instruments, but you’re probably better off shopping elsewhere for your credit needs.

| Tags: Card, Credit Card, State Farm
Posted December 28, 2010 by Brayden Laura under Credit Report

Because of the recent law adopted by the Federal Trade Commission, the major banks in the United States, including Equifax, TransUnion, Experian (formerly TRW), are all committed, consumers are able to offer (that’s you!) With a completely free copy of their credit - Reports can be requested to once every 12 months. This means that once you purchase a 100% free credit report from one of these three reports major credit card companieseach year. It has never been easier and cheaper, now stay on your credit report and score.

Everyone should check their credit report is free

There is no good reason why you should check your credit report at least once a year. Knowing what your credit report and your credit score may save you time and money when shopping for a mortgage or lease. Read more…

| Tags: Transunion, Transunion Credit
Posted December 23, 2010 by Imogen Lay under Credit Report

Bankruptcy trustees will target debtor’s income tax refunds. Tax refunds provide immediate cash available for distribution to creditors as opposed to other assets, such as cars, which have to be stored, noticed for sale, and liquidated at auction with commissions due.

One of my bankruptcy clients is expecting a significant tax refund. He stated that all his income in the past year was in the form of distributions from a qualified pension plan and social security. Proceed from pensions and social security distributions are exempt under Florida law after they money has been distributed to the recipient debtor. My client wants to know if his tax refund representing taxes withheld from pension and social security distributions is exempt in Chapter 7 bankruptcy.

I have never seen a case on this issue, and the issue has not come up before in any of my previous bankruptcy cases. In my opinion, the tax refund would not be exempt. M

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| Tags: Income, Tax Refund
Posted December 23, 2010 by Brayden Laura under Credit Report

The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law this summer by President Obama, introduced a number of financial reforms for big business as well as new protections designed to shield consumers against potential abuses.

One of the act’s proposals, which has not yet been approved, would lower debit card interchange fees by as much as 70 percent (as CreditBloggers reports). Here’s a look at what that means for you and how it might change the face of personal finances.

How Will Lowered Debit Card Fees Affect Your Finances?

What’s known as an “interchange fee” or a “swipe fee” is the amount of money a merchant pays for every customer who uses a debit card to pay for a purchase. Here’s some background information.

• Current charge: Right now, fees vary among cards but some require merchants to fork over as much as one or two percent of the total price of a customer transaction – naturally, such fees can really add up on bigger purchases.
• Signature vs. PIN: Cur

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| Posted December 21, 2010 by Amelie Hampton under Bankruptcy Articles

So many banks, credit card companies and financial service providers offer free credit reports that date to stay with them all seriously. There is also a great campy commercial gain national exposure this report provides an unfortunate man-chip, which is reduced to singing in a seafood restaurant and he did not get its credit lines.

What is the truth about these deals? Most important, especially the American consumer, the understandably a bit ‘cynical about “free” offers, these offers are truly free?

The short answer is: not many. ” But we will not stop here short answers, we give you the whole story – in language they can understand, with a length that can be easily in a few minutes to digest. S

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| Tags: Credit Report, Free Credit, Free Credit Report, Report
Posted December 18, 2010 by Imogen Lay under Credit Report

With news of health care rulings and the debate over extension of tax cuts, it may be unsurprising that there’s been less reporting in the media about a recent report from the Congressional Oversight Panel on HAMP (Home Affordable Modification Program), the Obama administration’s program designed to help Americans avoid foreclosure.

But, as CreditSlips.org reports, recent foreclosure modification numbers are out – and they aren’t too rosy. Here’s a summary.

• Twenty-one percent of HAMP modifications re-default in their first year: This number is shocking for a few reasons. First, because it means that people who qualify for and get their banks to agree to a mortgage modification are, in many cases, still unable to stay current on their loans. Second, b

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| Tags: News, News Foreclosure
Posted December 16, 2010 by Amelie Hampton under Bankruptcy Articles

If a Chapter 7 debtor has a significant amount of non-exempt personal property over the exemption limits the debtor has to buy back from the Chapter 7 trustee the non-exempt property. Non-exempt property subject to buy back includes automobiles and other types of personal property such as cash, stocks and furniture. Most trustees give clients up to 12 months to purchase the non-exempt property in monthly installments without interest. Most Chapter 7 debtors do not have enough non-exempt cash to make a lump sum repurchase.

A few debtor’s have the ability to pay cash immediately to buy back non-exempt assets because they have money in exempt retirement funds or can get a loan from other family members. Cash purchasers deserve a discount, and most trustee will discount the purchase price for debtors able to pay all cash in 20 to 30 days. Trustees provide discounts up to 25 percent off the full value of non-exempt cars or other property. T

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| Tags: Chapter Trustee, Trustee
Posted December 16, 2010 by Brayden Laura under Credit Report

Reports all the details for people in terms of solvency of the market after taking account of all transactions, the loan is made for use by the people for their economic and personal reasons. FICO scores are usually transferred from agencies to all financial institutions, banks, mortgage institutions by various banks, credit card companies that deal with peoplebecause of their credit standing. The people have a market loans, credit cards and many other institutions because of their FICO score in their way.

The exercise aims Credit reports can be accessed from any of the credit bureaus is available on the market, which are Experian, Equifax and TransUnion for all. This can provide a guarantee on their credit report, the institutions and provided to various banks, financialcredit institutions in respect of its financial strength. credit reports also protect people from theft of their identity in the city, avoiding any kind of mishappening.

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| Tags: Report, Report No
Posted December 13, 2010 by Imogen Lay under Credit Report

An experienced bankruptcy attorney told me about a creative planning technique to save and reorganize a financially stressed small business by using Chapter 13 bankruptcy. Remember, Chapter 13 is for individual only. Businesses use the more expensive and complicated Chapter 11 reorganization. The attorney’s plan is a bit complicated for laymen readers, so here is a very condensed version.

Assume you own a small business in an S corporation or limited liability company. The business has significant assets but even greater liabilities. The business cash flow is “negative” on a monthly basis. You have to pump more money in the business to keep it afloat in hope the government’s economic recovery plan takes effect in time to turn your market positive. A bankruptcy attorney suggest you reorganize your debts in Chapter 11, but states his Chapter 11 retainer fee would be at least $25,000.00. If you had $25,000 available the business would be healthy. You are

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| Tags: Business, Chapter 13, Using Chapter, Using Chapter 13
Posted December 12, 2010 by Brayden Laura under Credit Report