Author:
NERDBOT
Should you get the Toyota Rewards? We'll give you our take on the perks and drawbacks of this card and tell you how it stacks up against the Capital One® Venture℠ Rewards Credit Card. For a dynamic comparison of all our cards, check out our credit card tool.
NerdWallet Review: The Toyota Rewards
No annual fee: The Toyota Rewards has no annual fee. This means it's ideal for those who don't put much on their cards, and want to keep the card open for a long time. If you keep your credit cards open, you'll boost your average account age and thus your credit score.
Introductory APR period: This card comes with an intro APR period. This has the benefit of allowing you to make a large purchase and avoid interest payments for a while as you're paying down the debt.
Credit Card Showdown: Toyota Rewards vs. Capital One® Venture℠ Rewards Credit Card
Same late payment fee: The Toyota Rewards and the Capital One® Venture℠ Rewards Credit Card have the same late fee. Of course, you should avoid incurring late payment fees anyway. In addition to the late fee, but you may incur a hefty penalty APR that lasts for at least six months.
Lower rewards rate: The Toyota Rewards's base rewards rate is lower than its competitor's. If you can't find a card that neatly fits your spending profile (let's say, one that gives rewards on the shopping you do way too much of), a high base rate is key. That said, base rewards aren't everything: many cards give high bonus rates but have mediocre base rates.
Smaller signup bonus: The Toyota Rewards has a smaller signup bonus than its competitor, so you're sacrificing some money right off the bat. Of course, that isn't the only thing that matters about a card, but still, good to know.
Longer introductory APR period: In addition to giving rewards, the Toyota Rewards offers a 0% introductory APR period. While you're paying down your debt interest-free, you can also save money by earning rewards.
Read the full review of the Capital One® Venture℠ Rewards Credit Card on our blog
