Gap Visa Card Review. The Gap Visa Card offers users special rewards at Gap and its sister stores. This card is co-branded so it’s not restricted to Gap Stores alone, it can be at all other stores that accept Visa. With this card, regular shoppers can save 10-20% on the first purchase.
Gap Visa Card is issued by Synchrony Bank. Earning rewards on the Card is easy but there are other things you need to consider such as the pricing and other conditions attached.
Earning Rewards on the Gap Visa Card
With the Gap Visa credit card, you earn 5 points for every dollar you spend at Gap and its sister stores (Old Navy, Banana Republic, Piperlime) and 1 point per dollar on all other purchases. Once you accumulate 500 points, you earn a $5 reward. Even though this is a Visa Card, you can only redeem your rewards at Gap or affiliate stores, but you can combine multiple rewards or combine with most other sales and coupons for a higher discount.
Cardholders get special offers to earn extra points, a 10% discount on Tuesdays, special savings on birthdays, access to special events with exclusive discounts.
Upgrade To Silver Status
Once you earn 5,000 bonus points in a calendar year, your account can be upgraded to Silver status. You’d have to spend $1,000 on (non-bonus) Gap purchases to reach Silver status. Benefits of Silver status include free online shipping on all purchases, 20% quarterly reward bonus, 15% discount on a day that you choose, triple points on select days, and free basic alterations on Banana Republic purchases. You’ll have to continue earning 5,000 points each calendar year on your card to maintain Silver status.
For some people, that’s a lot of credit card shopping, unless the Gap Visa happens to be your main credit card.
Gap Visa Vs. GapCard
The Gap Visa is very much like the limited-purpose GapCard, except that you can make purchases in more places, but the rewards can only be used in Gap and its sister stores. Other than the rewards program, there isn’t much that makes the GapCard credit card attractive.
Unfortunately, you don’t get to choose whether to apply for the Gap Visa or the GapCard. Instead, the bank first tries to qualify you for the Gap Visa and then for the GapCard. You’ll need a good credit history to be approved for the Gap Visa even though the offer isn’t that great.
Should You Get The Gap Visa Card?
Using the Gap Visa Card as your main credit card may not be the best option when you take a second look at the pricing. While there’s no annual fee, the 26.49% APR is much higher than the average, so you’d want to pay your balance in full on this card. Paying in full not only allows you to avoid expensive finance charges on your balance but also keeps you from negating your rewards with interest payments.
You might want to consider other great credit cards. For instance, the Discover it would be a better deal since you can earn up to 10% cashback on Gap, Old Navy, and Banana Republic purchases when you make the purchase through ShopDiscover. A $10 cash reward is a lot more flexible than a $5 coupon towards a Gap purchase.