Gap Credit Card Review: Know The Fees Before Applying! | CreditShout

Gap Credit Card Review: Know The Fees Before Applying!

By Kevin / March 13, 2015
Gap Store Visa Credit Card

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The Gap offer a store credit card known as the GapCard and rewards credit card known as the Gap Visa. These cards both offer great rewards for shopping at The Gap, Old Navy, Banana Republic and Athleta. However, we recommend digging into the fine print (or reading our review) before you apply.

GapCard Overview

GapCard, Gap Visa and Silver Rewards Program Review

CreditShout Rating:

Annual Fee: $0

Credit Needed: Average

Rewards Program and Signup Bonuses*:

  • ​Save 15% on your first purchase
  • 5 points for every $1 spent on Gap brands (in-store and online)
  • 1 point for all other spending (Gap Visa only)
  • $5 Rewards for every 500 points you earn
  • 10% off every Tuesday
  • Gap Silver status by earning 5,000 points in a calendar year -> then earn 20% quarterly bonuses

Here is what current cardholders, and those who are thinking about applying, need to know about the Gap credit cards.

GapCard Versions

It’s important to understand that there are three different versions of the Gap credit card.

Store Card

First, the GapCard is a store-only offered to those who don’t qualify for the Visa version and can only be used for in-store and online purchases at Gap, Athleta, Banana Republic and Old Navy stores. It’s easy to tell which version you have, just look for the Visa logo.

To qualify for a store card, you will need average credit.​

Gap Visa Rewards Card

For those with good credit, Gap will issue you the Gap Visa credit credit card. This card can be used anywhere that Visa is accepted. And, from time to time, Gap will issue you bonus offers to use your Gap Visa to make purchases outside of Gap brand stores.

Gap Silver & Gap Silver Visa

Those cardholders that acquire 5,000 point (i.e., spend $1,000 at Gap stores) in a calendar year will enjoy Silver status. You can acquire a Gap Silver card whether you have the regular GapCard or the Gap Visa.

The additional benefits of Gap Silver include*:

  • 20% quarterly bonus Rewards points (to get Rewards certificates faster)
  • Free online shipping with no minimum purchase (use promo code MYCARD)
  • Free basic alternations on Banana Republic purchases
  • Choose your own sale day
  • 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

Note on Card Issuer

The Gap store and Visa credit card is issued by Synchrony Financial, which also handles a host of other store credit cards from retail partners. You may have previously known Synchrony as GE Money Bank or GE Capital Retail Bank. This was a name change, as General Electric looks to divest itself of its financial services arm (including credit card underwriting). You can read more about this change here.

Editor's Note

As a general rule of thumb, we usually recommend avoiding store branded credit cards altogether. If you want to earn rewards, most people will be better off applying for a general cash back card to use everyday. You can check out our Guide to the Top Cash Back cards by clicking here.

Rewards Program Overview

Both the store card and Visa versions of the GapCard offer 5 points per dollar on purchases at The Gap and affiliated stores (which include Banana Republic, Old Navy, Athleta, and the outlet stores) - both in store and online.  With the Visa version of the card, you can also earn 1 point per dollar spent everywhere else. 

Every time you earn 500 points, you will earn a $5 rewards certificate. You will receive your Rewards Certificate with your billing statement.

This works out to a $5 reward for Gap related spending - or a 5% bonus. This makes the GapCard rewards program a pretty good proposition for those who shop frequently at one of their stores.

You can earn even more rewards by acquiring Silver status. This will require you to spend $1,000 in a 12-month period at Gap stores. But it will land you 20% bonus rewards points, free basic alternations at Banana Republic, no minimum for free online shipping, and other perks listed above.

In addition to earning those points, GapCard holders will regularly find themselves earning some additional perks at The Gap and ​other related stores*:

  • ​Save 15% on Your 1st Purchase
  • 10% Off Every Tuesday
  • Special Sales and Bonus Point Opportunities (this includes bonus points for using the Visa card version in non-Gap establishments)
  • Free Online Shipping (minumum purchase of $50)
  • No Receipt Required for Returns
  • Special Birthday Savings
  • And Even More Bonuses for Silver Status Card Holders

GapCard: Good Rewards, Horrible APR

Whether you get a GapCard or the Visa card, you’ll want to pay it off every month. This is NOT a card to finance your purchases.​

The GapCard carries a hefty 24.99 % 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.

GapCard Fees and APR are high

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

Gap Visa: Fees are Not Much Better

The Gap Visa Card is a Visa card issued by Synchrony Financial, 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. However like other store cards, this Visa version of this card suffers from a ridiculously high interest rate.

For store-affiliated credit cards, the additional benefits offered by the GapCard and Gap Visa aren’t bad. However they still aren’t enough to outweigh the high APR’s associated with these offers, if you are a consumer that runs a credit card balance.

Know the Fees!

You’ll pay 3% for cash advances or balance transfers — but with an 26.99 % 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.

Comparison of GapCard, Gap Visa and Gap Silver rewards program

If you make a late payment after you’ve already been subject to the penalty rate, you’ll be charged $35 as seen in the fine print highlighted above. [Editor's Note: The late payment fee has since been increased to $38.]

The Bottom Line

We think GapCard offers great rewards program when shopping at The Gap and its affiliates stores. If you and your family are frequent shoppers at their stores or online, you may benefit a lot form using this card.

However, the weak rewards available for non-Gap purchases (with the Visa version), and high fees and APR associated with this card, make it difficult for us to recommend the card, unless you will be paying your balance off in full each month.​

Last Updated: June 24, 2015

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

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