Toyota Rewards Visa Credit Card Review

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Toyota cars have a reputation for being less expensive to maintain. But even the sturdiest car will require you to take it to your local shop or dealer for regular maintenance and repairs. The Toyota Rewards Visa credit card could help you shave the cost of that maintenance by offering generous, easy-to-earn rewards you can use to help cover some of those expenses.

Toyota Rewards Visa®

overall rating
3.9
Toyota Rewards Visa®
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Not Specified
Regular APR (%) 15.74% - 24.74% variable
Annual Fee $0
Rewards Earning Rate 5 points/$1 spent at Toyota dealerships, 2 points/$1 spent on gas, dining and entertainment purchases, 1 point/$1 spent everywhere else Visa is accepted
Ratings Breakdown
for Interest
1.9
for Fees
4.1
for Rewards
4.2
for Credit
4.2

5,000 bonus points for spending $500 outside Toyota dealerships within first 90 days

Who is This Credit Card Best For?

  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain
    Deal Seeker
  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need
    Savvy Saver

Toyota drivers will get the most value from the Toyota Rewards Visa card since they’ll be able to earn an exceptional 5 points per $1 spent every time they use the card at their local Toyota dealership. Consumers planning to purchase a new Toyota would also benefit since Toyota doesn’t limit the number of points you can earn. Depending on your credit limit, you could charge your entire down payment and still earn 5 points per $1 spent. (Ask the dealer if there's a limit on how much of the down payment you can charge.)

You should also get a substantial amount of value from the Toyota Visa card if you’ve owned or leased your car long enough to make somewhat regular trips to the Toyota dealership for maintenance and repairs: It essentially works like a 5% discount on every Toyota dealership expense that you charge. 

Pros

  • Great earnings rate on Toyota purchase

  • No cap on earning rewards

  • Good earnings rate on entertainment purchases

  • Good earnings rate on gas and dining purchases

Cons

  • Underwhelming sign-up bonus

  • No introductory interest rate

Pros Explained

  • Great earnings rate on Toyota purchases: The Toyota Rewards Visa card offers one of the strongest rewards rates you can get on automobile expenses. If you spend $800 a year on maintenance at the dealer, for example, and $200 on repairs, you’ll earn $50 worth of rewards points. The older your car and the more maintenance it needs, the more you could potentially earn. The auto website Edmunds, for example, estimates that 2019 Toyota Camry owners will likely spend more than $1,300 on maintenance in their car’s fifth year and more than $300 on repairs (that’s $80 worth of rewards points). 
  • No cap on earning rewards: Unlike some no annual fee cards that offer 5% back on select purchases, the Toyota Visa card doesn’t limit how much you can earn. If your credit limit is high enough to let you charge thousands of dollars at a time, you could earn hundreds of dollars worth of rewards in one fell swoop. For example, if you put down a 10% deposit on a $24,000 car, you could earn $120 worth of rewards. 
  • Good earnings rate on entertainment purchases: You’ll earn 2 points for every $1 spent on a wide variety of entertainment purchases, from bowling alleys to theme parks. With so many qualifying purchases, those 2 points can add up fast: If you regularly spend $90 a month on cable TV and $200 a month on entertainment, you’ll rack up nearly $70 worth of points just from those purchases annually.
  • Good earnings rate on gas and dining purchases: If you don’t already have a card that offers a better rewards earning rate on gas or dining, this is also a good card to use for filling up your tank or dining out—particularly since the Toyota card’s dining bonus covers more purchases than many credit cards with dining bonuses do. In addition to restaurant spending, you’ll earn 2 points per $1 spent at bakeries, bars, and coffee shops.

Cons Explained

  • Underwhelming sign-up bonus: Although it’s better than nothing, the Toyota card’s sign-up bonus may be disappointing to cardholders who are accustomed to earning $150 or more shortly after opening a new card. It’s also limited to non-Toyota expenses, so you can’t just charge a pricey car repair or maintenance fee and collect your bonus. 
  • No introductory interest rate: Perhaps the biggest downside to the Toyota Rewards Visa card is that it doesn’t offer a promotional interest rate. This is unfortunate since some cardholders may look to automobile cards with 0% introductory interest rates to help finance costly car repairs.

Toyota Rewards Visa Card’s Sign-Up Bonus 

You’ll need to charge at least $500 in the card’s first three months and you can’t use a trip to your Toyota dealership to help get you there: Only non-Toyota purchases are counted for the card’s bonus threshold. 

You won’t earn much once you spend $500, either. The 5,000-point sign-up bonus is only worth $50—well below what many rewards cards offer. That said, many auto repair cards don’t offer a sign-up bonus at all, so at least cardholders have a chance to earn some kind of accelerated bonus. 

Earning Points & Rewards

Unlike some auto rewards credit cards, the Toyota Rewards Visa card is a good card to use for a variety of expenses—not just charges from your local dealership. Although the card’s 2 points per $1 spent on gas and dining isn’t all that special compared to other rewards credit cards, the 2 points per $1 spent on entertainment is notable. Only a handful of mainstream, no-annual-fee rewards cards offer a bonus on entertainment. 

The Toyota Rewards Visa’s expansive definition of what counts as dining and entertainment purchases also makes the card more valuable than it may seem. Not many cards offer bonus points on cable TV purchases. Similarly, being able to claim a dining bonus on bakery, coffee shop, and bar purchases is also uncommon. 

The Toyota Rewards Visa card’s 5-point earnings rate on Toyota purchases is what really makes this card special, though. It’s rare to find a card that offers so many points on any purchase, let alone purchases that can add up to thousands of dollars a year. 

The fact that the Toyota card doesn’t limit the number of points you can earn is also striking—and it doesn’t charge an annual fee. Many no-annual-fee rewards cards have strict rewards earnings caps.

You don’t have to worry about losing your points as long as you keep your account in good standing: Toyota points don’t expire. 

Redeeming Rewards

You can use your rewards points to offset the cost of maintenance and repairs or to make a down payment on a new Toyota lease or purchase. Or, you can use your rewards points to purchase travel or gift cards or receive statement credits.

Unlike some auto rewards credit cards, the Toyota Rewards Visa card doesn’t limit you to just Toyota purchases. As a result, the Toyota card is more flexible than some competitors’ cards since you can use your points when you want, even if you don’t plan on making any more Toyota purchases. 

The value of your Toyota points is simple and easy to keep track of: every point is worth one 1 cent each, no matter how you decide to redeem them. 

How to Get the Most Out of This Card

Add another member of your household as an authorized user so you can pool your car expenses and other rewards purchases. Since the Toyota card doesn’t cap rewards points, it’s a great card to help you maximize a two-car household’s spending (especially if they also drive a Toyota) and get more value out of routine maintenance and repairs. You can only add one other authorized user, though, so if there are more than two people in your family with Toyotas, other household members will have to apply for separate cards.

Customer Experience

The Toyota Visa card is currently issued by Comenity Bank, which issues a number of store credit cards. Comenity offers secure messaging. However, it doesn’t offer 24/7 customer service. To reach a customer service representative, you’ll need to call between 7 a.m. and 11 p.m. CT on weekdays and between 9 a.m. CT and 5 p.m. CT during the weekends.  

Security Features

Like many cards these days, the Toyota Rewards card lets you instantly lock your credit card when you misplace it and unlock it when you spot it. In addition, you can set up notifications to alert you whenever someone tries to use your card. It doesn’t offer any other notable security features, though. 

Toyota Rewards Visa Card’s Fees to Watch Out For

The Toyota card’s fees are standard for a rewards card, although Comenity Bank charges fees for making payments by phone or requesting statement copies.

For Toyota Rewards Visa®

Compare This Card

See how this card stacks up to the competition
CURRENT CARD
Toyota Rewards Visa®
overall rating
3.9
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Not Specified
Regular APR (%) 15.74% - 24.74% variable
Annual Fee $0
Rewards Earning Rate 5 points/$1 spent at Toyota dealerships, 2 points/$1 spent on gas, dining and entertainment purchases, 1 point/$1 spent everywhere else Visa is accepted

Our Methodology

  • At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.