Toyota Rewards Visa

[AyaMai]

Applied 3 months ago for AAA Travel Advantage Visa issued by Comenity Capital Bank, by the way it is my first through them, I do not have payment issue with them as I do not wait for statement to come out to pay my debt as I do other with card issuers. Was awarded with $8300 credit line, my credit report was pulled from Equifax, my FICO score is 769. luckily not from Experian or TransUnion. My auto loan 3.99%, put 1/3 down payment of 2022 Toyota Camry LE Hyprid MSRP Price financed through Toyota Financial Services, I am ahead of my monthly payments by 7 months to cut the interest of the first 2 years. My wife owns a paid off 2018 Toyota Hybrid Limited, both of us service our cars at two different Toyota dealerships where we bought our cars from.

Is it worth to apply for the card AF is $0 , SUB is $50, the rewards are nothing to talk about, already my wife regular car maintenance expenses are starting to creep up as any other car which ages which will occur with my car in future. I do have other cashback credit cards which cover my every house monthly category expense plus purchases from Target, Costco, Sam's Club, Amazon and Walmart's. In my opinion there is no harm in getting it, my inquires are very low at Equifax, my utilization hovers between 0% - 4%. Do I apply for the card through Toyota Financial Services which takes me to Comenity Capital Bank website which markets its customers to apply for it or apply directly to them.  Your comments are appreciated. 

[FireMedic1]

Have you read into the kinda large thread on Page 1 here?

https://ficoforums.myfico.com/t5/Credit-Cards/Comenity-cards-and-recent-frustrations/td-p/6587636 

I'm not a fan of auto dealer cards. Nor much talk about them as it is. Better things out there. Too many problems with Comenity.

[Brian_Earl_Spilner]

If you plan to service and repair at the dealer than it might make sense depending on rewards from other cards. Personally, it's been a pain for me. They want almost 100 for windshield wipers at the dealer because they're "specifically made" for my Lexus. AutoZone has some for a third of the price that work just fine. Same thing for any wear and tear item. Tires are 25% more, and less to choose from. I'm kind of meh about my Lexus card right now. 

[AyaMai]

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@FireMedic1 wrote:

Have you read into the kinda large thread on Page 1 here?

https://ficoforums.myfico.com/t5/Credit-Cards/Comenity-cards-and-recent-frustrations/td-p/6587636 

I'm not a fan of auto dealer cards. Nor much talk about them as it is. Better things out there. Too many problems with Comenity.

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I am aware of the issues of this bank when I did my reseach about them in the past. My utilization of any card is between 0% - 4% at any time, there were exception to the rule. I am in the minority who pays off any purchases the next day or ASAP, I do not want to be under the mercy of any lender due to their mismanagement of handling their credit cards portofolio. You do not have the money to buy, the rule is not to charge.  I screwed twice my credit history and I didn't make eny exuses for my reckless behaviour in the past. My credit line is 150K far more than I need, CLI denials are not an issue with me, my 3 Capital One credit line are a joke, it is OK.  I have read the the thread posts, the common points were to file dispute with Experian, Equifax and TransUnion "Great Tip",  it will teach store card holders not to purchase products and max their credit limit when they do not have the money to pay for it. I will see when my AAA Travel Advantage Visa opened in October from Community will report to credit reports.  My eyes in 2023 are on 2nd Discover Card, Amex Blue Cash Everyday Card '0% intro APR on purchases and balance transfers for 15 months' , Amex EveryDay Credit Card '0% intro APR on purchases and balance transfers for 15 months', T-Mobile/GoldmanSachs (future issued!) since I have Apple & GM cards through them and I am T-Mobile customer. 

[AyaMai]

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@Brian_Earl_Spilner wrote:

If you plan to service and repair at the dealer than it might make sense depending on rewards from other cards. Personally, it's been a pain for me. They want almost 100 for windshield wipers at the dealer because they're "specifically made" for my Lexus. AutoZone has some for a third of the price that work just fine. Same thing for any wear and tear item. Tires are 25% more and less to choose from. I'm kind of meh about my Lexus card right now

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 Got new tires for my wife's Toyota RAV4 from Les Schwab Tire Center in Portland not from her Toyota dealership. I agree with your statement.

[ptatohed]

Am I missing the benefits?  No reward points?  Just 0% financing for 6 months on $199+ spent at Toyota?

https://d.comenity.net/toyotacreditcard/pub/benefits/benefits/Benefits.xhtml

[AyaMai]

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@ptatohed wrote:

Am I missing the benefits?  No reward points?  Just 0% financing for 6 months on $199+ spent at Toyota?

https://d.comenity.net/toyotacreditcard/pub/benefits/benefits/Benefits.xhtml

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Card details

• 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

The benefits will be minimal but I assume I will get a high credit line as I did with AAA Travel Advantage Visa CL $8300 with 5% Cashback on gas which suits me very well as I do few long distance road trips per year. 

[Anonymous]

Tough to do on such a reliable vehicle choice.  Like others have said - There's such an uptick paying full dealer prices for all brands.

Now if Chrysler offered a 10% card for their service work...that's something that could really rack up the bonus points...

[FinStar]

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@AyaMai wrote:

Applied 3 months ago for AAA Travel Advantage Visa issued by Comenity Capital Bank, by the way it is my first through them, I do not have payment issue with them as I do not wait for statement to come out to pay my debt as I do other with card issuers. Was awarded with $8300 credit line, my credit report was pulled from Equifax, my FICO score is 769. luckily not from Experian or TransUnion. My auto loan 3.99%, put 1/3 down payment of 2022 Toyota Camry LE Hyprid MSRP Price financed through Toyota Financial Services, I am ahead of my monthly payments by 7 months to cut the interest of the first 2 years. My wife owns a paid off 2018 Toyota Hybrid Limited, both of us service our cars at two different Toyota dealerships where we bought our cars from.

Is it worth to apply for the card AF is $0 , SUB is $50, the rewards are nothing to talk about, already my wife regular car maintenance expenses are starting to creep up as any other car which ages which will occur with my car in future. I do have other cashback credit cards which cover my every house monthly category expense plus purchases from Target, Costco, Sam's Club, Amazon and Walmart's. In my opinion there is no harm in getting it, my inquires are very low at Equifax, my utilization hovers between 0% - 4%. Do I apply for the card through Toyota Financial Services which takes me to Comenity Capital Bank website which markets its customers to apply for it or apply directly to them.  Your comments are appreciated. 

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Sounds like you pretty much convinced yourself to apply 🤔

Honestly, it makes no difference how you apply since neither method offers an advantage over the other as far as the odds go. Ultimately, your decision since you're already aware of some of the recent instances associated with Comenity. Just keep in mind that CLIs are looking to be HP (as of recently) and Comenity (or the credit partner) can end its relationship at any given time -- just like prior Comenity PLCCs that have gone the way of the DoDo bird.

[CreditUnionFan]

I've carried the Toyota Visa for many years; my account started its life as a "Toyota Financial Services" card, but the servicing was US Bank / Elan. A few years into having the card, it transferred to Comenity. So, no matter where you start, the credit card will be Comenity/Bread.

As for the rewards, they're kinda lackluster, especially considering the charges at the dealer. There for a while I used the dealer for oil changes, but over time I ended up elsewhere. I leave my account open due to age of accounts.  For $50, I'd have to think about whether I wanted to give up a 5/24 slot, and probably would pass at this point, since there are lots of 2% cards out there.