Toyota Credit Card Deal - at Last on the Market

October, 2008 has been set as the deadline for a new automotive affinity credit card to enter the already crowded market of co-branded credit products. Toyota Motor Corp. has at last announced its plan to issue a credit card and thus join a dozen of automakers that are already involved in a heated competition for the best market place.

The promotion campaign will start in October and is expected to bring a larger volume of customers than that of many other automakers. Perhaps, this is due to the relatively easier affordability of the car brand as compared to let's say Lexus, Audi, BMW or Mercedes-Benz.

Just like airlines, gas and hotel rewards card offers, Toyota-branded card will award its customers for the card use with points, to be more exact - 5 points for 1 dollar spent on Toyota dealership and 1.5 points per dollar to finance all other transactions.

Well this is quite a standard rewards card program, you would say, such as one available with all other automotive companies. However, if you have heard of the ability to buy a completely new car with credit card rewards, this ordinariness may seem to be more alluring.

How does Toyota make for such a great opportunity? Use their credit card to finance daily spending and accumulate points towards 10% of a new Toyota car price! It is easy and enjoyable.

Research reveals that customers with automotive affinity credit cards twice more often return to their dealerships for car service than other car owners. And every equipment check-up promises to reward you with points.

So, who benefits most from auto-affinity credit card business? - Companies or cardholder? Difficult to say, actually. No doubt, automakers generate fabulous revenues on the cards' fees, interest rates and other charges.

But think of what they give in return! A BMW-branded plastic "My Mini" goes so far in encouraging its customers as to let them design their own Mini to be imprinted on the card. Customers are not limited in their imagination and can offer some options that are not available in real life.

General Motors credit cards are the few ones that offer customers either cash rebates or 3 per cent credit to accumulate for a new GM car at your choice.

Chrysler Rewards Visa stands out for the unique opportunity to redeem the points towards used autos of the brand, along with repairs and oil charges.

All these benefits and rewards are a great moving power for in the automakers' credit card business and their customers' loyalty.

For now Toyota Company is engaged in the study of Lexus cardholders' spending behavior and habits to better understand their needs and meet their expectations.

US customers are holding breath to see the Toyota brand plastic on the market as they expect to be offered the same high quality service as they see with other automakers, reasonable pricing and unforgettable rewards experience.