LOS ANGELES -- In an era of shrinking credit, Toyota Financial Services is jumping into the consumer credit market with a Toyota-branded credit card.

The card will let consumers accrue points through purchases. Those points can be redeemed for future discounts on vehicle parts and maintenance, or toward the down payment on a new Toyota vehicle.

Toyota has issued about 50,000 Lexus-branded credit cards since the 2005 launch, resulting in $11 million in points accrued, and $4.5 million redeemed. About 21,000 customers have redeemed points, 95 percent of which went toward vehicle maintenance and 5 percent toward the purchase of a new Lexus.

Lexus customers earn five points for every dollar spent at the dealership, and 1.5 points per dollar spent anywhere else. For redemption purposes, a point is worth one cent at Lexus dealerships. The Toyota plan is still in development.

Toyota expects about 140,000 Toyota-badged cards will be issued the first year, starting in October. But because Toyota's owner base is 10 times larger than that of Lexus, many more credit cards likely will be issued, said Mike Wells, Toyota Financial Services vice president of marketing, product development, brand and of the Toyota Financial Savings Bank.

"We came at this from a retention perspective," Wells said. "How can we (reward) a customer for what they are already doing?"

Wells said Lexus vehicle owners with Lexus credit cards are more likely to buy a new Lexus than those without credit cards. He expects similar trends for the Toyota card.

Toyota Financial Savings Bank will carry the credit card balances, and Toyota will maintain customer data and portfolios. While customer information is confidential, Toyota can gather data to see purchasing trends.

Customers can apply for the card online or get instant credit at a dealership.

Toyota Financial Services has increased its business sharply in the past several years. In 2000, it had 1 million retail customers and 200,000 leases financed. Now the captive finance company is carrying 3 million retail customers and 800,000 leases.