Verdict: As store credit cards go, the GapCard and Gap Visa Card are quite fair, however we still recommend the Discover More Card if you want to get the most bang for your buck. Discover More offers 5% cash back on apparel purchases at ANY store including Gap as well as 5% cash back on gas, at resturants and other rotating categories. With Discover More can also earn 5% back at Gap shopping online year-round through the ShopDiscover portal.

The Gap Visa card offers 5X rewards on purchases in Gap and affiliated stores, and 1 point per dollar spent everywhere else. Whether you get a GapCard or the Visa card, you’ll want to pay it off every month — the Visa card has 2 APRs depending on your credit. Both are high. The GapCard carries a hefty 23.99 % interest rate. If you are just starting to build your credit, you will probably qualify for the GapCard (rather than the Visa). If you’re a frequent Gap shopper, we’d recommend it over a secured credit card, simply because of the rewards and lack of an annual fee or security deposit. The card also offers a few benefits, which are nice perks for Gap fans.

Overview: The Gap credit card is issued by GE Money Bank, which also handles a host of other store credit cards from retail partners like Home Shopping Network, Amazon, American Eagle, IKEA and Wal-mart. If you shop in chain or big box stores, chances are you have been offered (or even applied for) a card from GE Money Bank.

As with most store credit cards and store-affiliated Visa cards, the interest rate is high and the rewards are exclusive to Gap and its sister chains of stores, including Banana Republic and Old Navy.

How these cards work:

GapCard
The GapCard is a store credit card which you can use for purchases in Gap, Gap Outlet, Banana Republic, Banana Republic Factory Stores, Old Navy, and their affiliated websites, including piperlime.com and athleta.com.

If you keep your account in good standing and spend more than $800 in 12 months, you will be upgraded to a Silver Card, which provides additional benefits.

The card offers online account management and bill pay options, a free second card tied to your account.

Gap Visa Card
The Gap Visa Card is a Visa card issued by GE Money bank, with similar benefits and rewards to the GapCard, including an available upgrade to a Silver card. The Gap Visa card is accepted anywhere that takes Visa credit cards. You may qualify for an interest rate of either 18.24 % or 21.24 %, depending on your credit history and other factors. Both cards offer a 23-day grace period. The penalty rate for both cards is 27.24 %.

Benefits
For store-affiliated credit cards, the benefits packages for both the GapCard and Gap Visa are generous. You’ll receive:

• Free online shipping for orders over $100 (at affiliated e-tailers)
• Advance notice of sales, plus special promotions and exclusive store event invitations
• Special birthday savings
• 10% off Tuesdays at the Gap family of stores
• 24/7 online account management

If you qualify to upgrade to a Silver card, (at no additional cost) you’ll receive additional benefits such as:

• Free standard shipping on all online purchases from Gap and its sister stores
• 15% off on a day of your choice
• Free basic alterations on Banana Republic purchases
• Access to the exclusive toll-free Silver priority line for customer service
• Special sales and shopping events, with opportunities to earn extra rewards points, discounts and more.

Rewards:
The rewards structure is simple. Earn 5 points for every dollar you spend at Gap and affiliated stores and websites. On the Gap Visa Card, you’ll also earn 1 point for every dollar you spend elsewhere. When you earn 1,500 points, you’ll earn $10 off at Gap.
You’ll get 15% off your first purchase with your GapCard or Gap Visa, and you can earn 1,500 bonus points by signing up for email and voice message updates.

Fees: You’ll pay 3% for cash advances or balance transfers — but with an 18.24 % interest rate (at best), we don’t think anyone will use this card for those purposes. If you have a higher interest card, there are better options available.

Late payments on both cards are as follows:

• $15 for a balance of $15 – $29.99
• $25 for a balance of $30 – $99.99
• $29 for a balance of $100 – $249.99
• $39 for a balance of $250 or more.

If you make a late payment after you’ve already been subject to the penalty rate, you’ll be charged $39 for any balance of $100 or more. The rest of the late fees remain the same.

Pros:

• No annual fee
• Good for people building or re-building their credit
• Easy-to-understand rewards structure
• Earn $10 off for every $300 spent at Gap stores
• Silver status provides enhanced benefits
• 5X rewards points on purchases from Gap and other stores
• Easy online bill pay and account management

Cons:

• Must spend $800/year to earn Silver status
• High interest rates
• Rewards limited to Gap and affiliated stores and websites

(No Ratings Yet)

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