Lexus Pursuits Platinum Visa Review

Earn five points per dollar at Lexus dealerships

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Cash in your points for a new Lexus vehicle or to service your car.

Who the Lexus Pursuits Platinum Visa Is For

  • Lexus customers who want to earn rewards toward a new car or service.

Credit Rating Required

  • Good to Excellent (660+)

About the Lexus Pursuits Platinum Visa

Pros

  • No annual fee.
  • Points can be redeemed to buy or lease a new Lexus, up to 10% of the price.
  • Optional travel rewards program.

    Cons

    • Points earned when you use the card to buy a new car are capped at 50,000.
    • Points can't be redeemed for used car purchases.
    • Points can't be given to family members or friends.

    Rewards

    • Five points per dollar on purchases at Lexus dealerships.
    • 1.5 points per dollar on everything else.

    APRs

    • 11.99 to 18.99% on purchases and balance transfers.
    • Penalty APR: 29.99%.

    Fees

    • No annual fee.
    • Balance transfer fee: 3% of balance.
    • Late payment fee: Up to $35.
    • Returned payment fee: Up to $35.
    • Over limit fee: Up to $35.

    Lexus Pursuits Platinum Visa Review

    Both Lexus and its sister Toyota division have rewards credit cards that help you earn points toward your next vehicle purchase. In some ways this card is better than the Toyota Rewards Visa, although the Toyota card gives you more options to cash in your points.

    The basic rewards are better on this card. You earn five points for every dollar you spend at a Lexus dealership, 1.5 points per dollar on all other purchases.

    Points are worth a penny a piece, so 10,000 points are worth $100. Points can be redeemed for service, parts and accessories at Lexus dealerships and new - but not used - vehicles.

    That's one of the key differences between the two cards. Also, unlike the Toyota card, where you can redeem as many points as you like to buy a car, here you can only redeem points up to 10% of the price of the vehicle.

    Like the Toyota card, the number of points you can earn is capped: You can earn up to 200,000 points, or $2,000, per year on purchases made at participating Lexus dealers. If you use the card to pay for all or a portion of a new vehicle, the number of points you can earn is capped at 50,000 points, or $500, for any single purchase. Outside the dealership, you can earn up to 7,500 points, or $75, per billing cycle.

    While the Toyota card also lets you use your points to help a family member or friend buy a new car, you can't do that here.

    Unused points expire after five years in both programs.

    The Lexus card also has an optional travel rewards program that lets you redeem points for airline tickets, hotel stays, car rentals and the like. There is a $60 annual fee.

    Recommendation

    It's too bad the points earned on either the Toyota and Lexus cards aren't interchangeable. If you use the Lexus card and start earning points and later decide to buy a Toyota instead, it doesn't appear you can use those points.

    If you prefer other brands of automobile and are interested in earning points toward a future vehicle purchase, check out the GM Flexible Earnings Card or the new Chrysler MasterCard.

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