Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Underwriting Standards
State Farm Bank ("Bank") encourages any interested individual(s) to submit an application for any product(s) offered by the Bank. We also encourage you to obtain information regarding the Bank's underwriting standards for each type of credit or service offered by visiting statefarm.com or by contacting the Bank at
1-877-SF4-BANK (1-877-734-2265).
To apply for a Bank product, you may also see your participating State Farm agent.
Additional Agreements and Authorizations
By submitting this application, you certify that you are a duly authorized owner(s) and/or officer(s) acting on behalf of the Business applicant (“you”)
in applying for a business credit card account with State Farm Bank, F.S.B. (“State Farm Bank” or “we”). You acknowledge that you have reviewed all the information entered on the application and affirm that it is true and complete and that the account will be used solely for commercial or business purposes. You must be at least 18 years of age and a U.S. citizen or permanent resident alien with a valid permanent home address within the 50 United States or the District of Columbia to be eligible to apply. You authorize State Farm Bank to obtain one or more credit reports about the Business, its owners and/or officers to determine eligibility for credit, renewal of credit, future extensions of credit or any other legitimate business purpose in connection with this account. We will consider the application for a State Farm Bank Visa Business credit card. We will verify
the credit status, income and other information relating to the Business, its owners and/ officers. Based on this, we determine the actual credit line on your account and may issue credit on different terms. State Farm Bank reserves the right not to open any account. If an account is opened,
you agree that the use of the account, account number, or any card issued in connection with the account constitutes your acceptance of, and is subject to, the terms and conditions (including binding arbitration) of the State Farm Bank Business Credit Card Agreement and Disclosure
Statement (“Cardholder Agreement”) that will be sent with your card(s). You also acknowledge that your participation in the State Farm Dollars®
Rewards Program will be governed by the Program Terms and Conditions, a copy of which will be sent with your card(s). State Farm Bank, in its sole discretion, may allocate your payments to balances with lower APRs (including introductory offers and new transactions) before balances with higher APRs. You and the Business agree to be responsible for all charges incurred on the account according to the Cardholder Agreement.
In addition, the Guarantor personally and unconditionally guarantees and promises to pay us all debts and obligations arising out of any Account we establish and maintain in the name of the Business, as further described in the Guaranty Agreement included within the Business Credit Card
Application. For joint credit card accounts, you are responsible, both together and individually, for the entire outstanding balance on the account.
You also agree that the Cardholder Agreement and your account are governed by Federal law and by the laws of the State of Illinois
to the extent that Federal law is not controlling, and that the Cardholder Agreement is subject to change (including, but not limited
to, an increase in rates and fees). The terms described in this application supersede those in all previous applications.
Balance Transfer Terms and Conditions
You agree to allow approximately 30 days to process your Balance Transfer request, pay the amount, and transfer the balance to your State Farm
Bank Visa Business credit card account. Interest may begin to accrue on the transferred balance as of the date the balance is transferred to your
State Farm Bank Visa Business credit card. Until you confirm that a Balance Transfer has been completed, you should continue to make all required
payments on the other account(s). State Farm Bank is not responsible for any fees or finance charges incurred on an account prior to its transfer, nor for any remaining balance or additional charges in the event the payment amount you authorized does not satisfy an outstanding balance.
We will not close your other accounts. In the event you wish to close another account after transferring the entire outstanding balance to your
State Farm Bank credit card account, you must still contact the other issuer or creditor directly. The minimum individual transfer request that will
be honored is $50 and the total amount(s) paid and transferred under this offer is limited to 94% of your total credit line in order to leave part of
your line available for Purchases. If you submit concurrent Balance Transfer requests that exceed this transfer limit, we will process your requests
from highest to lowest dollar amount, may decline to process one or more requests and will not complete a request by making a partial payment.
Your credit card account must be in good standing and State Farm Bank reserves the right to refuse any Balance Transfer request. Balance Transfer
requests may not be used to pay any existing balances on any State Farm Bank credit card account, nor can they be processed if made payable
to you, an individual, a deposit account, or cash. State Farm Bank, in its sole discretion, may allocate your payments to balances with lower APRs
(including promotional offers and new transactions) before balances with higher APRs. Balance transfers do not earn State Farm Dollars.
Notice to Married Wisconsin Residents: No provision of any marital property agreement, unilateral statement, or court order applying to marital property will adversely affect State Farm Bank interests unless prior to the time credit is granted, State Farm Bank is furnished with a copy of the agreement, statement or court order, or State Farm Bank has actual notice of the provision.
Married Wisconsin residents must furnish the name and address of their spouse to:
State Farm Bank at
P.O. Box 84062,
Columbus, Georgia 31908-4062. |
State Farm Bank®
Equal Housing Lender
