The Gap Visa card is offered by the credit card issuer in collaboration with clothing retail. Gap Visa Card doesn’t charge any amount in terms of the annual fee and best for those who want to save on branded purchases. This credit card offers 20% to new cardholders on their first purchase. It rewards in terms of points, while other cards reward in cashback. If you spend $1 on shopping, either online or in-person, you earn five points. You can redeem these points later while making purchases from Gap or Gap sister brands.
For the purchases with this credit card, the APR is high and the transaction fee also charges on the foreign transaction. Gap Visa is best for those who love to shop from fashion brands. If you love to have branded accessories and clothes and spend a considerable amount on shopping at Athleta, Banana Republic, Old Navy, or Gap, then a Gap Visa card is best for you. Gap Visa cards don’t charge annually, so you can add them to your wallet without any problem.
Benefits of using Gap Visa Credit Card
Gap Visa Card rewards on purchases
Every credit card member can earn five points on spending every $1 shopping on Gap and its branded outlets. Gap-Branded stores include Athleta, Old Navy, and banana republic. Furthermore, the cardholder also earns one point on other purchases. On every 500 points, you would be awarded $5. A good stack of these rewards would lead to a serious discount on your fashion purchase.
Gap discounts with this credit card are more exciting than rewards in the form of points. New Gap-card members receive 20% OFF on their first purchase and free delivery in online purchases. Cardholders can use this offer within 30 days after opening a Gap account. Another equally important thing is that you can avail this discount offer Gap factory or Gap-branded purchases. Meanwhile, you can enjoy a 10% discount on each purchase from Gap sister brands and Gap itself.
Credit card members are offered special discounts on birthday gifts and bonus point shopping days. In the last 12 months, you might have purchased from Gap branded stores or Gap itself. The Gap Visa Card bonus is the biggest attraction for the customer, and they can avail these gifts on their special days. On the other hand, Gapholder can credit these bonus offers to Gap-branded stores.
Gap Silver status
Gap cardmember must have to spend $1,000 on Gap purchases or $5,000 on non-Gap stores to avail of a Gap silver account. A combination of this amount could also lead to qualification for Gap silver status of this credit card. Silver status holders are eligible to acquire additional benefits including free online shipping, alterations on the banana republic, 20% quarterly bonus reward and you could also choose your sale day. Having access to a customer service hotline will also be part of Gap Silver’s benefits.
Demerits of Gap Visa Credit Card
The Annual Percentage Rate (APR) is 25.99% on Gap purchases. As of February 2020, the average APR for other cards is 16.61%. So, the Gap APR is pretty high in comparison with the other credit cards. Gap Visa Credit Card is not providing any exception on this sky-high APR. High Annual Percentage Rate (APR) is something that is the major disadvantage of Gap Visa Card.
Foreign transaction fees
Gap visa cards charge a transaction fee on foreign transactions. Outside the United States, you will have to pay 3% on each purchase you made. Similarly, for online purchases from other countries or foreign vendors you have to pay a transaction fee, even if you are purchasing by sitting at your home. It means you will be paying $30 extra on each $1000 foreign transaction with this credit card. Various other Capital One cards don’t charge any fee on foreign transactions.
The application process is confusing
The application process for Gap Visa cards is confusing in the sense that while applying for a Gap Card, you are applying for two different cards. Gap Card: It could only be used for transactions at Gap and Gap-branded stores. Gap Visa Card: You can use it anywhere the Visa card is accepted. The transaction fee and APR are the same for both cards but having two cards is something that seems useless. You couldn’t apply for one card.
Redeeming Gap rewards
You can use the rewards while purchasing from a Gap-branded store or Gap. For every $100 spent on Gap stores, you would be able to redeem a $5 discount on your next purchase from the Gap family. You can redeem $50 at maximum, at one time with this credit card. You can earn unlimited rewards by purchasing from Gap family, but you can use $250 in rewards in a transaction. If the reward exceeds this limit, you can use it in the next billing cycle. Rewards could be redeemed in $5 to $50 amounts. While redeeming your awards, your purchase price must be greater than the amount you are going to redeem.
Maximizing Gap Rewards
You can maximize Gap awards by using a Gap card whenever you purchase from Gap or Gap-branded stores. You can earn 5 points on each $1 purchase from the Gap family. On every 500 pints, you receive a $5 reward that you can use in your next purchase. The Bureau of Labor Statistics states that in 2018 an Average consumer in America spent $1,866 on clothing and footwear. If you spend this amount on purchasing from Gap family by using your Gap Visa card, you can maximize your reward. For instance, if you use this amount on Gap purchase with this credit card you could earn 9,3330 points in total, which would be converted into $90.
Security features of Gap Credit Card
The gap card is issued by Synchrony Bank, not by Gap incorporation. Synchrony Bank is not, unfortunately, well known for good customer service. However, you can check similar to cards Like Amazon Prime Rewards Card. Gap Visa cards are having basic security features But, the customer can contact the bank via the customer helpline number with this credit card.