Review: GAP Credit Card

gap-credit-cardsThe GAP credit card, issued in partnership with Synchrony Bank (formerly GE Capital Retail Bank), is good at GAP stores as well as the rest of the GAP family: Old Navy, Banana Republic, and Athleta. See below for an overview / review of what the GAP credit card has to offer:

First off, GAP actually has 2 credit cards:

  • The GAP store credit card can only be used at GAP and stores in the GAP family. It offers a generous reward formula — you get a $5 reward card for every $100 you spend at GAP stores. (Technically you get 5 points per dollar and get the $5 reward when you hit 500 points.)
  • The GAP Visa can be used anywhere Visa is accepted. You get 5 points per dollar spent at GAP stores and 1 point per dollar on all other purchases with the card. You get a $5 reward card each time you reach 500 points.

With either card, you get 15% off your first purchase with the card. You can even get the 15% off on the day you are approved for the card, even though you don’t have the physical card yet.

If you are a big spender at GAP stores, earning at least 5,000 points per year, you will get a card “upgrade” to GAP Silver, which adds perks such as a quarterly 20% boost of your point totals, free shipping on online orders, “Choose Your Own Sale Day”, and more.

One thing to note: It is not your choice whether you get the GAP store card or the GAP Visa. Based on your credit history, you will be considered for the GAP Visa first, and if you don’t qualify you will then be considered for the GAP store credit card.

Both GAP credit cards have the same very high interest rate — 25.24% — so don’t get one unless you plan to completely pay off your balance each month. Otherwise you’ll pay more in interest charges than you’ll ever get in rewards.

You can apply for the GAP credit card online via this application.