*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
This article was last updated Feb 25, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
If you’re looking to score regular discounts during frequent visits at your local Gap store, then the GAP Inc. Visa® Card can help you do that. Plus, points can be racked up not only at Gap, but also Old Navy, Banana Republic and Athleta, among other Gap brand outlets, which are all part of the Gap family brand of stores.
We’ll take a close look at the pros and cons of the GAP Inc. Visa® Card, whether it’s a good card to have and how it compares to the Chase Freedom®.
- GAP Inc. Visa® Card pros
- GAP Inc. Visa® Card cons
- Is the GAP Inc. Visa® Card a good credit card?
- Compare the GAP Inc. Visa® Card to the Chase Freedom®
GAP Inc. Visa® Card pros
Sign-up bonus. Save 20% on your first Gap or Gap Factory product purchase when approved. Plus, new cardholders get 3,000 bonus points for their first purchase outside Gap brand stores made within the first 30 days of account opening.
Rewards. Earn 5 points for every $1 spent at Gap family brands, 1 point for every $1 spent everywhere else Visa is accepted. In addition, enjoy a $5 reward for every 500 points you earn. Plus get an extra 10% off on Gap and Gap Factory stores and earn bonus points on special shopping days. Cardholders also receive a birthday gift as long as the card was used in the past year.
Shopping benefits. Special event access with exclusive discounts. Also, you don’t need to present receipts for returns for items purchased with the card.
No annual fee. The GAP Inc. Visa® Card does not charge an annual fee.
Get upgraded to Silver status. If you earn 5,000 Reward Points (excluding any bonus points earned) within a calendar year by spending at least $1,000 a year at Gap stores, and make all your payments on time, you will be upgraded to the Gap Silver Account. Silver account holder benefits include a quarterly bonus of 20% Rewards Points. You must re-qualify for the Silver account every year, however. Silver account holders also receive free basic alterations as well as free online shipping, among other perks.
GAP Inc. Visa® Card cons
High APR. The GAP Inc. Visa® Card charges a very high APR of 27.49% variable. This isn’t a card you’ll want to carry a balance on as interest charges will quickly inflate what you owe.
Foreign exchange fee. The GAP Inc. Visa® Card charges 3% of each transaction for purchases made outside the U.S.
Rewards can only be redeemed toward store purchases. You cannot apply your cash rewards as a statement credit or for purchasing gift cards.
Is the GAP Inc. Visa® Card a good credit card?
The GAP Inc. Visa® Card has an extremely high APR, which is fairly common among retail cards. However, if you are disciplined enough to pay off the balance in full every month and shop at the Gap family brand of stores often, you can take advantage of the regular, ongoing shopping discounts that come with card membership.
One of the unique aspects of this card is that you earn the higher rewards rate when you use the GAP Inc. Visa® Card online or in-store not only at Gap, but also at GapBody, babyGap, Gap Maternity, Gap Outlet, Gap Factory Stores, Banana Republic, Banana Republic Factory Store, Old Navy, Old Navy Outlet or Athleta in the U.S. and Canada. However, there is a $500 limit on spending at these stores outside of Gap that will earn rewards. And, you can only redeem your rewards at Gap Inc. stores.
Since the card is a Visa card, it can also be used everywhere else, but you are limited to the lower rewards rate for purchases made outside Gap family of stores.
Since there are other credit cards, either travel or cashback cards, that offer higher rewards for purchases outside Gap, we recommend that if you choose to apply for this card to only use it for purchases at Gap or its related stores.
Also, it’s important to know that if you have a low credit score, you may not qualify for the GAP Inc. Visa® Card, and instead will be issued the GAP Inc. Credit Card, which can only be used within the Gap family of stores since it isn’t co-branded with Visa.
Compare the GAP Inc. Visa® Card to the Chase Freedom®
If you’re looking to save some cash on a big clothing haul, as well as everyday purchases, you may fare better with the Chase Freedom® card. Not only do new cardholders earn a nice sign-up bonus, but it also offers a more generous rewards program and a 0% APR intro offer on both purchases and balance transfers. Here’s how the two cards compare:
|GAP Inc. Visa® Card||Chase Freedom®|
|Sign-up bonus||Save 20% on your first Gap or Gap Factory product purchase when approved.||Earn a $200 Bonus after spending $500 on purchases in your first 3 months from account opening.|
|Rewards||Earn Plus get an extra 10% off on Gap and Gap Factory stores and earn bonus points on special shopping days.||Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases.|
|0% purchase offer||N/A||0% Intro APR on Purchases for 15 months|
|Regular purchase APR||14.99% to 23.74% variable|
The Chase Freedom® allows you to earn a higher cashback rate on rotating categories, up to $1,500 in combined purchases every quarter you activate, which can include gas stations, streaming service subscriptions, grocery stores, department stores and home improvement stores. Plus, you can apply your cash back toward your statement balance, as well as redeem for gift cards or travel.
And if you need to finance a large purchase, the Chase Freedom® has you covered for more than a year of no interest before the regular APR kicks in.
The information related to the Chase Freedom® has been independently collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.