Toyota Credit Card?

[DI]

Wasn't there a recall on Toyota's credit cards?  Make sure that they work before attempting to use.  It could be problem with the credit cards that rivals Toyota's cars. 

[pizzadude]

Yes I have heard that there are well documented cases of this card causing unintended acceleration of spending habits.

Sorry. Couldn't resist.

[Creditaddict]

yes to previous poster there is a honda card.

so can you product change to a lexus card if you have toyota card because I have Scion now but my next car is actually going to be lexus 

[Itsmeagain]

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@pizzadude wrote:
Yes I have heard that there are well documented cases of this card causing unintended acceleration of spending habits.

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And don't bother trying the brakes, they don't work either . . . . . . . 

[Watchmann]

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@mgs2010 wrote:
They will only give you one card. I spoke with a customer care rep for my Toyota Rewards Visa and was told only one account per customer, whether it be Toyota or Lexus. I'm not too thrilled with this card anyway, especially seeing as how I no longer drive a Toyota. Is there a Honda rewards credit card?

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It certainly makes no sense to have the Toyota card if you don't drive a Toyota as the points earned are used for Toyota service or towards a new Toyota.  I monitor how much I charge on the Lexus card to keep my available rewards within reason.  Right now I have about $350 available towards service at the Lexus dealer, but so far the only maintenance I've had on my 2006 Lexus are oil changes at $50 each.  So I'm not using the Lexus card too much at this point.

Message Edited by Watchmann on 02-17-2010 10:23 AM

[Creditaddict]

Well in this recent credit climate when I'm seeing my CL's slashed left and right, I really am forgoing the rewards just to have a card to charge on.

While I clean up some of my accounts, I'm going under the radar and switching my daily charging over to a business account to hopefully not see anymore adverse action on my personal accounts. 

[Creditaddict]

The rep I just spoke to said you could have both Toyota Visa and Lexus Visa because people could own both a Lexus and a Toyota so would want both.

Product Changing to the Lexus from Toyota Visa is not an option though.

Now I would not be surprised if she had the wrong information but her statement makes since.  Anyone actually have one and apply for the other and been denied because you already have account?

I'm going to wait 6 months, get my CLI on Toyota and then apply for Lexus so I have that history and 2 more of my other credit cards paid off 

[Anonymous]

Yes, you can have both cards, but you can't convert from one to the other.  You can also have multiple accounts of the same type.  If you are denied for having a previous account it is because it was opened within 30 days.

You can use the Lexus rewards at participating Toyota dealers.  The Lexus card carries an additional gift card redemption option, which is a prepaid Visa.  Additionaly, it earns .5% more reward points.  

You would want to check if premium points are earned with the Lexus card at a Toyota dealership.

[v8eaterWRX]

Just got this card in the mail this morning. $1500 starting limit with 6 mos 0% going to 14% after the promotional period. 711tu, 687ex, 47% utilization with a new auto loan with Toyota Financial and wayyyy to many inquiries.

I am resisting the urge to req a CLI on the online account as this is the lowest CL that I have on any card (next is almost $4k). 

[Creditaddict]

I'm going to give it 4 months before pushing it, maybe even 6, but they better give a very nice cli because like you this is by far the lowest limit but was still very happy to not be declined!