Toyota Rewards Visa Credit Card Review

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The Toyota Rewards Visa credit card offers generous, easy-to-earn rewards on dealership purchases and repairs, making it a smart choice for Toyota owners who take their car to the dealership for repairs and maintenance.

Toyota Rewards Visa®

Overall Rating
3.7
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
Poor - Excellent
Regular APR (%) 15.49% - 24.49% 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
3.1
for Rewards
3.8
for Credit
3.5
Current Offer

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 See more cards
    Deal Seeker
  • Avatar for Family Shopper Persona
    Looks for good quality at a fair price while buying for the household See more cards
    Family Shopper
  • Avatar for Trendsetter Persona
    Loves being the first to try something new See more cards
    Trendsetter
  • Avatar for Brand Loyalist Persona
    Frequently shops with a particular merchant and wants to be rewarded for their loyalty See more cards
    Brand Loyalist

Toyota drivers will get the most value from the Toyota Rewards Visa card since you can earn five points per $1 spent when you use your card at your 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 five points per $1 spent.

You should also get a substantial amount of value from the card if you’ve owned or leased your car long enough to make somewhat regular trips to the Toyota dealership for maintenance and repairs.

Pros
  • Great earnings rate on Toyota purchases

  • No cap on earning rewards

  • Good earnings rate on entertainment purchases

  • Good earnings rate on gas and dining purchases

Cons
  • Small new cardholder 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. The older your car and the more maintenance it needs, the more you could potentially earn. For example, 2019 Toyota Camry owners spend an average of $1,600 on maintenance in their car’s fifth year and more than $300 on repairs (that’s at least $95 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. For example, if you use your card to put down a 10% deposit on a $24,000 car, you could earn $120 worth of rewards. 
  • Good earnings rate on entertainment purchases: The card’s 2:1 points per dollar ratio is on par with other auto cards and popular cash-back cards. 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 annually.
  • Good earnings rate on gas and dining purchases: This is also a good card to use for filling up your tank or dining out. In addition to restaurant spending, you’ll earn 2 points per $1 spent at bakeries, bars, and coffee shops.

Cons Explained

  • Small new cardholder bonus: The Toyota card’s new cardmember bonus may be disappointing to cardholders who are accustomed to receiving $150 or more shortly after opening a new card. You have to hit the $500 requirement via non-Toyota purchases, though the $500 requirement to get the welcome bonus won’t take long for the average household to achieve.
  • 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 Bonus for New Cardholders

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 welcome bonus is only worth $50, whereas popular cash back cards tend to have at least a $150 welcome offer. That said, many auto-branded 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

The Toyota Rewards Visa card’ rewards rate make it a good card to use for a variety of expenses. The card’s two points per $1 spent on gas, dining and entertainment is about average for auto-branded cards.

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 average, as other leading auto cards have the same rate on in-dealership purchases.

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. This is similar to other auto cards but unique among cash-back cards that typically cap your rewards in 5% categories. 

You don’t have to worry about losing your points as long as you keep your account open and current: Toyota points don’t expire.

Redeeming Rewards

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. 

You can redeem your points when paying for 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.

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. 

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

Comenity Bank issues the Toyota Rewards Visa. To reach a customer service representative, you’ll need to call between 7 a.m. and 11 p.m. Central Time on weekdays and between 9 a.m. and 5 p.m. Central Time on 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.

Next Steps
For Toyota Rewards Visa®
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CURRENT CARD
Toyota Rewards Visa®
overall rating
3.7
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
Poor - Excellent
Regular APR (%) 15.49% - 24.49% 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.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. Edmunds. "2019 Toyota Camry: True Cost to Own." Accessed April 20, 2020.

  2. Comenity. "Toyota Rewards Visa." Accessed April 20, 2020.