Gap Credit Card Review

Here is our Gap Credit Card Review. If you often shop at Gap and its family of stores, you can definitely benefit from having a Gap credit card. The card provides 10 percent off every Tuesday at Gap websites and Gap Factory stores, special savings on your birthday, discounts and priority access to special occasions. There are two kinds of Gap credit card – the Gap Inc. Visa Card and the Gap Inc. Credit Card or the store credit card. Since this car has a high APR (annual percentage rate), you have to consider the costs and rewards offered by each type of card.

Both Gap Inc. Visa Card and Gap Inc. Credit Card allow you to access the rewards program. You can also use both cards in-store and online to purchase products from the Gap family of stores including Athleta, Old Navy, Gap and Banana Republic. The Gap Inc. Visa Card can be used anywhere that accepts Visa. You can also use this card to get a cash advance.

Annual Percentage Rate of Gap Credit Card

Both Gap Inc. Visa Card and Gap Inc. Credit Card don’t have a yearly fee. They come with 25.24 percent variable purchase APR, but the rate varies according to the Prime Rate and the market. Late payments can have a penalty fee of up to $37. For the Gap Inc. Visa Card, you have to pay a variable APR of 27.24 percent. There are also extra transaction fees involved like a cash advance charge of either 4 percent or $10 of the amount of every cash advance and a foreign transaction charge of 3 percent of every transaction.

Using your card wisely can help you avoid paying a large amount of debt. Pay the balance in full every month by the due date to avoid paying any interest. If you cannot pay the balance every month, you should pay it as quickly as possible to lessen the final amount of your purchase.

Do You Need to Maintain a Specific Credit Score?

The financial institution that provides the Gap credit card, Synchrony Bank, doesn’t require a minimum credit score in order to qualify for either Gap Inc. Visa Card or Gap Inc. Credit Card. Your odds of approval are higher if you have a fair to good credit score. In case you are not sure about your credit score, you can ask for a copy of your credit score from the agencies that keep track of it.

Gap Credit Card Rewards

You are automatically enrolled in Gap’s rewards program when you get a Gap credit card. This allows you to get points on every qualified purchase. You can use your Gap credit card solely at Gap brand stores to get 5 points for every dollar you end. If you own a Gap Inc. Visa Card, you can earn 1 point for every dollar you spend on your Visa card away from any Gap store. You can also enjoy a $5 reward for every 500 points you get. Gap will give you an additional 200 bonus points if you have reached Gap Silver status and have 1000 points. This status can be reached by earning 5,000 points within a calendar year.