Review: Citizens & Farmers Bank Credit Cards

Citizens and Farmers Bank (known also as C&F Bank), with Virginia locations from Richmond down to Newport News, in partnership with Elan Financial Services, a subsidiary of US Bank. Below we offer an overview / review of these cards:

  • The Visa Platinum Card is for C&F customers who don’t want to mess with rewards and are just hoping for the lowest interest rates. You can get an interest rate as low as 9.99% with this card, which is good, but be aware that if your credit isn’t great, you could be approved at a rate as high as 20.99%, which is not so excellent.

  • The C&F Visa Signature Bonus Rewards Card offers 1 point per dollar charged to the card, and then you get a monthly 25% bonus, which effectively means you are getting 1.25 points per dollar (not sure why they don’t just give you the 1.25 to begin with). You can redeem points for cash (1 point = 1 penny) in $25 increments, or you can use your points toward travel rewards. No annual fee.
  • The C&F Visa Signature Bonus Rewards PLUS Card is like the card above, but it offers a 50% bonus on points earned each month, so you effectively get 1.5 points per dollar. However, you pay a $50 annual fee with this card — unless you’re spending more than $20,000 yearly with this card, it makes no sense to get it over the card above.
  • The C&F Bank Secured Visa is for those who’ve had trouble being accepted for other credit cards, due to a lack of credit history or a bad credit history. In order to get the card, you must make what amounts to a security deposit — you deposit money into a savings account and the amount you deposit (up to $5000) becomes the amount of your credit line. However, you still pay off this card each month like a regular credit card — the money you deposit is only touched if you fail to pay your bills. Over time, using this credit card well should improve your credit score, possibly enough for you to get a standard, unsecured credit card, at which point you can get your deposit back. There is a non-refundable $35 annual fee for the card.

See also: 0% Balance Transfer Credit Cards, Instant Approval Credit Cards, Credit Card List