My wife and I put a deposit on a silver/black w/nav a couple of weeks ago and are now waiting for one to come in. We just found out about the Lexus credit card and applied for one over the weekend. The website says that you can charge your Lexus vehicle and earn up to 50000 points ($500) on that charge. Since you get 5 points per dollar charged at Lexus dealerships that means you can charge up to $10000 of your vehicle purchase on the card. The website also says to check with your dealer to find out what their limits are. Has anyone actually done this and how much were you allowed to charge? Since our dealer gives free service for the first two years I was thinking of using the points for a rear spoiler or tinting.

Thanks

 

I've heard of the Lexus CC but it is not available to non-US residents.

As for your deposit, downpayment - this is at the discretion of the dealership. My dealership only allows $1k on CCs as there is a variable processing fee on their end.

 

The points value you receive by buying after market items from the dealer won't outweight
the amount of money the dealer will over charge you for them.. Plus, I don't think they let
you charge more than $4,000- $5,000 at once.. They only allowed me to charge $4,000..

 

Not only that, but I'd hate to see what the rate is........

 

The rate is 12% i think im not sure i love having the card though.

 

12%... you realize that's AT LEAST double what you should be paying on a normal installment loan? You're insane if you put a car payment on that.... seriously, if you have to resort to putting a car payment on a 12% credit car, you shouldn't be buying a car, you should be buying a bicycle and saving your money.

 

The actual wording from the website-

[3] Cardmembers may earn a maximum of 50,000 points when using their Lexus Pursuits Visa to purchase a vehicle at any Lexus dealership. Please contact your local Lexus dealership for information regarding any additional credit card restrictions.

I guess I will call the dealership today and ask them their limits.

 

Capitol 1 rates as of this AM are 5.94 for Costco members. I'd say put as much on the card as you can pay off imediately so as not to get hammered on charges.


If you don't have the reserves to do that, then your gonna get screwed in the long run.

 

We always pay off our CC's in full monthly. We just maximize the rewards for each card we use. We were planning on paying cash anyways so the extra $500 in rewards is a bonus.

 

yep that's the way to milk those credit card companies

I pay all my monthly bills with a CC then pay it off entirely every month....and get a nice % back too!

 

I first got our card in the summer and used it for everything for the IS350 we bought a month ago. It only amounted to a few hundred dollars for us to redeem.

When we purchased the IS, they allowed us to charge $5000, and at the time, the December to Remember promotion was still in effect and we got 10 points per dollar instead of the usual 5.

 

I charge $4k to my Amex as part of my car's down payment. I paid off the balance in full before the grace period ended. The interest rate doesn't matter much for those who pay their bills in full. The benefits are in the rewards points. I have another credit card with 0% interest but I still won't use it to make car payments. Don't need to.