Review: Old Navy Credit Card

old-navy-credit-cardOld Navy, along with its sister stores GAP and Banana Republic, offers 2 credit cards that allow you to earn points toward future Old Navy discounts. Our overview / review of these cards is below:

Old Navy credit cards are issued in partnership with Synchrony Bank (formerly known as GE Capital Retail Bank). When you apply, you are going to be first considered for the Old Navy Visa card, which can be used at Old Navy and anywhere else Visa is accepted. However, if your credit history is not good enough to qualify for the Visa, you will then be considered for the Old Navy store credit card, which is only good at Old Navy, Gap, Banana Republic, and Athleta stores. The store card has a higher interest rate and offers slightly less in rewards.

Now, about the rewards. You get:

  • 5 points per dollar on purchases at Old Navy, GAP, Banana Republic, and Athleta.
  • 1 point per dollar on purchases anywhere else. (Visa only)

For every 500 points you earn, you get a $5 rewards card to use toward future purchases. That doesn’t sound like much, but you do earn it quick and $5 goes farther at Old Navy than at most retail stores. Plus, you can combine reward cards. (You may also be issued reward cards for higher amounts if you spend enough to reach a higher level such as $10, $15, etc.)

One final reward: you’ll get 20% off your purchases on the day you are approved for the Old Navy credit card.

Now, about this card’s interest rate. It’s high. Really high — 25.99%! (The same interest rate applies to the Old Navy Visa and store card.) If you EVER carry a balance on your credit cards, don’t get this one. The high interest rate will essentially cancel out any rewards you receive, and you’ll be in debt quick.

With all of that said, if you want to apply for the Old Navy credit card, there is an online application here.