5 Things to Know About the Gap Credit Card
The Gap Good Rewards credit card offers rewards and benefits for frequent Gap brand shoppers, but there are a few drawbacks.
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While the Gap Good Rewards Mastercard® Credit Card can be used anywhere that accepts Mastercard, the best value comes from using it at Gap and its sister brands, whether in person or online.
Issued by Barclays, the $0-annual-fee card is geared toward those who want to save on clothing purchases. Unlike some other store card options, your rewards don’t come in the form of cash back. You simply earn points that you can later redeem when you shop within the Gap family.
Here are five things to know about the card.
1. You'll earn elevated rewards at Gap and sister brands
Yes, the Gap Good Rewards Mastercard® Credit Card rewards you for shopping specifically at Gap. But you'll also earn elevated rewards using the card at other retailers under the Gap umbrella, which includes Gap Factory, Old Navy, Banana Republic and Athleta:
Earn 5 points for every $1 spent at Gap and qualifying brands, both in store and online.
Earn 1 point for every $1 spent everywhere else Mastercard is accepted.
2. You'll get some solid perks
The card's ongoing rewards are nice, but its discounts may be even more valuable. For starters, you can save 20% on your first purchase at Gap or Gap Factory stores with the card, as long as you make the purchase within 14 days of opening your account.
Cardholders also receive free three- to five-day shipping on purchases of $50 or more.
3. Those rewards can be used only within the brand
If your goal is primarily to earn discounts on future Gap-brand purchases, this card can deliver. For every $100 you spend on the card at a qualifying store, you'll earn enough for a $5 discount the next time you shop at a store in the Gap family.
If you don't make at least one purchase every 12 months, your points will expire. That's not a difficult threshold to reach for Gap enthusiasts, but infrequent shoppers will probably find more value in a general purpose rewards card that has more flexible rewards and no rewards expiration. The Bank of America® Customized Cash Rewards credit card may be a perfect alternative to the Gap credit card as it earns 3% back in a category you choose, which includes online shopping. The card also earns 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and an unlimited 1% on all other purchases.
4. Big spenders can earn 'Icon' status
Earn 5,000 reward points within a calendar year and get upgraded to a Gap Icon account. This status comes with a host of money-saving perks including:
Free two- to three-day shipping with a purchase of $50 or more.
Free basic alterations on apparel purchased at Banana Republic in store or online.
One choose-your-own-sale day.
A quarterly bonus of 500 points.
5. Steer clear if you plan to carry a balance
The ongoing APR is 33.99%, Variable. So even if you save a pile of money using the deals and discounts offered by the Gap Good Rewards Mastercard® Credit Card, make sure you are able to pay your balance in full every month. Otherwise, the outsize interest rate is sure to negate your initial discounts.
If you have a lot of clothing shopping to do, you might be better off with a general credit card that comes with a 0% intro APR offer on purchases.
For a look at how other cards compare to this one, see NerdWallet's list of best rated credit cards.
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