Save towards the purchase of a new Toyota vehicle using a Toyota Visa Card. This card offers 5,000 bonus points when you spend $500 outside of Toyota dealerships within the first 90 days. Plus five points per dollar for all your spending at Toyota dealerships.
The Toyota Visa Card is issued by Comenity Capital Bank. Earned points can be cashed in for a new or used Toyota vehicle or for service or repairs. You can also help a family member or friend buy a new car with your points.
How to Earn Rewards With the Toyota Visa Card
You can earn a 5,000 point bonus if you spend $500 outside of Toyota dealerships in the first 90 days. That’s about $167 in purchases each month. Cash advances and balance transfers don’t count towards the spending requirement necessary to earn the bonus.
You earn 5 points per dollar at Toyota dealerships; 2 points per dollar on gas, dining, and entertainment purchases; and 1 point per dollar on everything else. Your points never expire and there’s no limit to the points you can earn. Points are worth a penny each, so it takes 100 points to equal $1.00.
There’s no annual fee, which means you can use your credit card for free as long as you pay in full and on time each month and avoid any transactions that incur a fee.
The Toyota Rewards Visa offers a 0% introductory rate on purchases for the first 6 months. After that, your interest rate will be 14.24%, 18.24%, or 23.24% based on your creditworthiness. Generally, the better your credit score, the more likely it is that you’ll qualify for the lowest rate.
The late fee and returned check fee may be as high as $37. You can easily avoid these fees by making your monthly payment on time each month and by confirming that your checking account is open and has sufficient funds to cover your credit card payment.
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