Toyota Rewards Visa...good deal?

[JungleJim]

I noticed that Toyota has finally released a reward credit card..."Toyota Rewards Visa".

But using the "rewards calculator" on their site, I noticed that I would have to charge $100,000 to get $1000 in rewards.

My father has always had a GM rewards card. I know there is a limit, but he earns thousands toward each new Buick he purchases. I assume that the rewards on the GM card are much greater?

This new Toyota card doesn't seem worth it.

 

[d_clark]

Worthless ? Obvious you will not get enough points to pay for a new car. But I guess you could pay for routine maint. or repairs with it.

GM gives you triple points (3%) if you use your points for a new vehicle, or 1% if you take the cash rebate.

Toyota does not let you take cash, only does 1%, and you can only use the points at Toyota dealerships.

If you want a rebate card there are better ones out there. Check out
www.bankrate.com

I didn't read the Toyota agreement to see if there was an expiration date on the points.

 

[toto]

I looked at that offer, too, and was disappointed. 1% isn't that great, especially since you can't get cash out of it. There are much better rebate cards out there, and if you really wanted to, you could put away the cash from those and save it for the next 4Runner.

 

[JungleJim]

I looked at that offer, too, and was disappointed. 1% isn't that great, especially since you can't get cash out of it.

Yes, especially since they offer 1.5% on the Lexus version.

Heck, I'd be just as well off to get the GM card and use the rewards to purchase a Toyota. Toyota sure isn't giving me a good incentive to go with their card vs. others.

 

[Uneek]

If you have Costco membership and upgrade to a Business American Express, it has much better returns. 5% at Costco and stand alone gas stations, 3% on dining, travel and lodging, among others. 1% on all else. This is cash back, not some silly point system where you need 'X' number of points to redeem a reward like with Chase Cards.

 

[d_clark]

Yes, especially since they offer 1.5% on the Lexus version.

Heck, I'd be just as well off to get the GM card and use the rewards to purchase a Toyota. Toyota sure isn't giving me a good incentive to go with their card vs. others.

Sorry, I didn't clairify, the GM card gives triple points (3%) only if you buy a new GM vehicle. Then they limit the amount of points you can use, depending on the size of the car. (Think it was 2500 for suv/trucks and 1500 for cars. )GM will not give you triple points to buy a Toyota.

You would have to get the cash rebate at 1% (same as the Toyota) from GM to buy a Toyota.

 

[JungleJim]

Sorry, I didn't clairify, the GM card gives triple points (3%) only if you buy a new GM vehicle. Then they limit the amount of points you can use, depending on the size of the car. (Think it was 2500 for suv/trucks and 1500 for cars. )GM will not give you triple points to buy a Toyota.

You would have to get the cash rebate at 1% (same as the Toyota) from GM to buy a Toyota.

I am well aware of what you stated. That is why I said I might as well just use a GM card, since it would give me the 1% toward a Toyota (same as the Toyota card) or any other make. I'm also aware that it gives 3% on GM vehicles.

I just don't see why anyone would get the Toyota card. I think Toyota is only doint it because their customer base has been requesting it. But they went with the bare minimum just to shut them up.