Everything you need to know about the Gap Visa Credit Card

Developed in partnership with clothing retailers, this credit card developed by Visa makes its users save money on their clothing purchases. In addition, the product has no annual fees and offers a 20% discount to its customers on their first purchase using the Gap Visa Credit Card. Thus, this is a great option for people looking to save money on clothing purchases.

This card ties in with clothing retailers by offering five points for every $1.00 spent on clothing purchases. It rewards its customers in this way on purchases both online and in physical stores. This offer, even if it is exclusive for redeeming benefits at Gap or Gap sister stores, has one differentiating feature from the other options available on the market: its competitors give cash-based rewards.

On the other hand, the APR of this card is relatively high, and foreign transactions, whether in another currency or in another country, are taxed. Thus, this is the best option for customers who aim to buy brand-name clothes while being rewarded for it. So if you shop frequently at stores like Athleta, Old Navy, Gap and so on, this is an alternative to consider.

Benefits of the Gap Visa Credit Card

The main benefit offered by this credit card is that it offers points in exchange for dollars spent at designer stores. In this way, Gap Visa Credit Card holders can be rewarded five points for every dollar spent at major stores or at brands associated with the company. In addition, on other purchases made through this credit card, its holders are rewarded with one point per dollar spent. Finally, when the Gap Visa Credit Card user reaches the amount of 500 points, he acquires the amount of $5.00, which can be used as a discount.

The set of discounts offered by this credit card are, however, more attractive than the points promotion alone. New Gap Visa Credit Card applicants can enjoy a 20% discount on their first purchase and free shipping on all orders placed online. These benefits, however, will be active for a period of 30 days after applying for the card. 

In addition, by using this credit card, users can also count on a 10% discount on their purchases made at Gap stores, or at retailers of Gap products.

Gap Visa Credit Card holders are also offered additional discounts on birthday gifts and bonus days on purchases made with the acquired points. For this to occur, however, one must have made purchases at Gap retailers or at the official clothing retailer’s store within a 12-month period. Thus, this set of benefits may be more worthwhile than the reward in points, which is the main reward offered by the card. In contrast to this, cardholders can only take advantage of offers at Gap member stores.

Gap Silver

To achieve Gap Silver status, users of this credit card must spend a total of $1,000 on clothing purchases directly from Gap stores, or $5,000 at retailers of its products. Upon reaching the Silver account level, users qualify to receive additional benefits from this credit card, such as free shipping on online purchases, benefits at Banana Republic, and 20% off coupons each quarter. In addition, in the customer relationship area, users will have priority in customer service, in a line exclusive to holders of a Gap Silver account

Disadvantages

The main disadvantage of this credit card offered by Visa is its high APR rate, which is 25.99% on Gap purchases. Currently, as of August 2022, the average APR for credit cards in the United States is 21.40%. That is almost 5% more than other credit cards available on US soil. The product, however, does not offer any promotional APR period. So this is the biggest negative point of the Gap Visa Credit Card.

Furthermore, foreign transactions also represent a major disadvantage of this credit card. For transactions outside the United States, a 3% fee is applied for each purchase. This also applies to online purchases and transactions made on websites in other nations: even if this is done from your home. If you make a $100 purchase in another nation, you will have to pay $3.00 more. If you spend the amount of $1,000 at a store outside the United States, the fee is $30. This is a feature that its competitors, for example, do not have.

On this credit card, the application process is also a problem. This is because when the Gap Visa Credit Card is applied for, customers also end up signing up for another credit card automatically, making two applications in one. So besides the Gap Card, which is exclusively for purchases at Gap stores, you also get the Gap Visa Credit Card, which can be used at any establishment that accepts the Visa flag. They share the same fees, but it is impossible to apply for only one of them: you are obliged to subscribe to both.

Rewards

The rewards of this credit card can be used at retailers of its products or at official Gap stores. For every $100 spent at official stores, the customer is rewarded with a $5 discount on his next purchase. The maximum possible discount, however, is $50. It is also possible to accumulate the amount for a later withdrawal. However, the withdrawal amount must be less than the amount spent in the stores.

Security

With basic security features and a customer service channel, this is not its main point. Despite being incorporated into the Gap, this card is issued by Synchrony Bank, which is known for poor customer service.

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