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Toyota Rewards Visa card Review: Low-Value Perks and Rewards Except for Big Toyota Spenders

Review Updated
Natasha Etzel
By: Natasha Etzel
Natasha Etzel
Natasha Etzel
Writer

Natasha has been a freelance writer since 2015. She specializes in credit card and credit card rewards content. When not busy writing, she's either dreaming up her next credit card rewards redemption or traveling the globe. Her goal is to encourage more people to experience the world around them while making smart financial choices.

See Full Bio

Our Credit Cards Expert

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

The Toyota Rewards Visa® Credit Card is a credit card made with Toyota customers in mind. It has no annual fee, offers a welcome bonus, and earns unlimited rewards. You'll earn up to 5 points per $1 on eligible Toyota purchases and can earn rewards in other ways.

If you regularly get maintenance and service done at a Toyota dealership and you're looking to earn rewards on your spending, this card may be a good fit for you. Find out more about this card's top benefits in our full Toyota Rewards Visa® Credit Card review.

Ratings Methodology

Toyota Rewards Visa® Credit Card

Toyota Rewards Visa® Credit Card
Rating image, 3.00 out of 5 stars.
3.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 3.00 out of 5 stars.
3.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Fair/New to Credit Under(669)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Fair/New to Credit Under(669)

Intro APR

Purchases: N/A

Balance Transfers: N/A

Regular APR

13.99% - 22.99%, variable

Rewards Circle with letter I in it. 5x points at Toyota dealerships, 2x points for gas, dining and entertainment, 1 point on other purchases

1x - 5x points

Annual Fee

$0

Welcome Offer Circle with letter I in it. Earn 5,000 points when you spend $500 on non-Toyota purchases within 90 days

5,000 points

  • The target market for this credit card is (obviously) people buying a Toyota car and the rewards on those purchases can be valuable. But other credit cards are more well-rounded.

    • No annual fee
    • Sign-up bonus offer
    • Toyota rewards
    • No earning cap
    • Points don't expire
    • Flexible redemption options
    • Low-value bonus offer
    • Foreign transaction fees
    • No introductory APR rate
    • 5,000 bonus points for spending $500 outside Toyota dealerships within first 90 days
    • 5 points per $1 at Toyota dealerships
    • 2 points per $1 on gas and dining/entertainment
    • 1 point per $1 everywhere else Visa is accepted
    • Redeem points your way---service, parts, gift cards, travel experiences and more
Ratings Methodology

Credit card comparison

We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.

Offer Our Rating Welcome Offer Rewards Program APR Learn More
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash back on rotating categories 		Discover will match all the cash back you've earned at the end of your first year. Circle with letter I in it. N/A 1% - 5% Cashback Circle with letter I in it. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.

Intro:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular: 18.24% - 28.24% Variable APR

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash back 		Up to $300 cash back Circle with letter I in it. Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases. 1.5% - 5% cash back Circle with letter I in it. Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases

Intro: Circle with letter I in it. 0% Intro APR on Purchases and Balance Transfers for 15 months

Purchases: 0% Intro APR on Purchases, 15 months

Balance Transfers: 0% Intro APR on Balance Transfers, 15 months

Regular: 20.49% - 29.24% Variable

Apply Now for Chase Freedom Unlimited®

On Chase's Secure Website.

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for earning travel rewards 		75,000 Miles Circle with letter I in it. 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening 2X-5X miles Circle with letter I in it. Earn unlimited 2X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options.

Intro:

Purchases: N/A

Balance Transfers: N/A

Regular: 19.99% - 29.99% (Variable)

Apply Now for Capital One Venture Rewards Credit Card

On Capital One's Secure Website.

Rates & Fees External Link Icon

Full Toyota Rewards Visa card review

This credit card is a good fit for: Toyota owners who spend big on repairs and services done at dealerships or consumers planning to buy a Toyota vehicle.

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 cardmember 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.

Read more: Best Sign-Up Bonus Credit Cards

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.

If saving on gas is at the top of your list, check out our picks for the best gas credit cards.

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, check out our other credit card reviews. We've also compiled a list of some of our favorite top credit cards that could be worth a look.

Suggested credit score

If you want to apply for the Toyota Rewards Visa® Credit Card, we recommend having a FICO® Score of 670 or higher. This credit card is intended for consumers with good credit. In addition to credit score, other factors are also assessed, such as income and current debt. It could be possible to get approved with a lower credit score -- or be denied with a higher score.

The Toyota Rewards Visa card is right for you if:

If you drive a Toyota and get your vehicle serviced at Toyota dealerships or if you're considering buying a Toyota vehicle soon, the Toyota Rewards Visa® Credit Card may be an option to explore. If the following statements are true, you should consider applying for this card:

  • You want a card with no annual fee.
  • You get your car serviced at Toyota dealerships or plan to do so.
  • You're planning to purchase or lease a Toyota vehicle.
  • You want to earn 5 points per $1 on eligible Toyota dealership purchases and service.
  • You would benefit from earning 2 points per $1 on dining, entertainment, and gas purchases.
  • You're able to meet the spend requirements to earn the bonus offer.

But if you're not a Toyota owner, don't plan to buy a Toyota vehicle, or get your car serviced at a non-Toyota car repair shop, then this card is likely not a good option for you. A rewards card with more perks and a higher-value bonus offer may be more appealing.

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.