Toyota Rewards Visa® Credit Card Review

Top perks

These are the top highlights of the Toyota Rewards Visa® Credit Card.

No annual fee

This rewards credit card doesn’t charge an annual fee. Applying for a credit card with no annual fee is a smart choice if you’re looking to minimize paying extra fees.

New card member bonus offer

The Toyota Rewards Visa® Credit Card has a bonus offer available to new cardmembers who meet the minimum spend requirements. You’ll earn 5,000 bonus points when you spend $500 outside of Toyota dealerships within the first 90 days of account ownership.

Earn up to 5 points per $1 in rewards

With the Toyota Rewards Visa® Credit Card, you can earn up to 5 points per $1 in rewards. How much you’ll earn will depend on your purchase habits.

Here’s a breakdown of how this card earns rewards points:

  • Earn 5 points per $1 on purchases at participating Toyota dealerships
  • Earn 2 points per $1 at gas stations
  • Earn 2 points per $1 on dining and entertainment (movie theaters, concert tickets, etc.)
  • Earn 1 point per $1 on purchases outside of these categories

This card offers various ways to earn rewards points. If you typically spend at Toyota dealerships, gas stations, restaurants, and make entertainment purchases, you can maximize the points earned with this card.

No earning cap

Some rewards credit cards have an earning cap in place. The Toyota Rewards Visa® Credit Card doesn’t. That means you can earn unlimited rewards points.

Points don’t expire

With this card, you won’t have to worry about your points expiring. As long as you maintain a Toyota Rewards Visa® Credit Card account, your points won’t expire. That means you can take your time redeeming your points.

Flexible redemption options

The Toyota Rewards Visa® Credit Card offers flexible redemption options, which means you can choose the redemption that makes the most sense for you. You can redeem your points toward a vehicle purchase or lease down payment or towards service and maintenance costs at participating dealerships. Additionally, you can redeem your points for cash back in the form of a statement credit or redeem points for gift cards, travel, or merchandise.

What could be improved

While the Toyota Rewards Visa® Credit Card has some notable perks, there are some issues worth noting.

Low value bonus offer

While the Toyota Rewards Visa® Credit Card does have a bonus offer, it’s a low-value offer. When applying earned points toward a Toyota purchase or lease, service, or maintenance, points are worth $0.01 each. That means the 5,000 bonus offer points are only worth $50.

Other rewards credit cards offer more valuable offers to new cardmembers. You can get a higher value incentive by getting a different rewards credit card.

Foreign transaction fees

It’s important to know that the Toyota Rewards Visa® Credit Card charges foreign transaction fees. That means if you use this credit card to make international purchases, you’ll be charged a fee of 3% for every foreign transaction you make. If you’re traveling internationally and use a card that charges these fees, it can make your trip more expensive. If you plan to travel abroad, use a credit card that doesn’t charge foreign transaction fees.

No introductory APR rate

If you’re looking for a way to make upcoming repair needs or down payment costs for a car purchase more affordable, you may be searching for a credit card with a 0% introductory APR rate. This card doesn’t offer an initial 0% APR rate for purchases or balance transfers. If you’re looking for this kind of offer, you’ll need to check out our credit card reviews and consider other top credit cards.

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