Credit Card News
Gap and Barclays Unveil New Co-Branded Credit Card Slate
Fans of the well-known retail brands of Gap Inc. will now have new credit card options to choose from. This week, the company unveiled updated co-branded rewards cards from Gap, Old Navy, Banana Republic, and Athleta. What’s more, for a limited time, new cardholders can earn a bonus that will earn them additional reward points on purchases.
Gap Inc.’s line-up of cards features four of the company’s brands and their loyalty programs: Navyist Rewards, Gap Good Rewards, Banana Republic Rewards, and Athleta Rewards. However, while these different “flavors” of cards are available, each will feature the same perks and rewards. The arrival of these new cards comes as Gap moves its credit card portfolio from Synchrony to Barclays as part of a partnership announced last year. Current cardholders will be transitioned to the new products this month.
In terms of rewards, the Gap brand Mastercards will earn 5 points per dollar spent at Old Navy, Gap, Banana Republic, or Athleta. All other purchases will earn 1x points by default. That said, as a bonus, those who open one of these new cards by September 30th, 2022 will earn 5x points on all purchases through January 31st, 2023. Earned points can then be redeemed for purchases from any of the four brands in 100 point ($1) increments.
Another perk is that cardholders will automatically earn Enthusiast status of Gap Good Rewards. This will entitle customers to free 3-5 day shipping on orders of $50 or more, birthday surprises, exclusive promotions, and more. Those who spend $1,000 a year or more at Gap Inc. brands will then earn Icon status with upgraded shipping, Double Rewards Redemption Day, etc.
Commenting on the new cards and the new partnerships, Gap Inc.’s SVP and Head of Rewards, Loyalty, and Payment Chris Samway said in a statement, “We are very excited for our new partnership with Barclays and Mastercard, and to continue enhancing our program benefits and shopping experiences for our more than 10 million Cardmembers. We look forward to leveraging the unique capabilities this partnership brings to create meaningful value for our Cardmembers.”
Additionally, Barclays US Consumer Bank’s Head of Retail Expansion Bill Crabtree said, “We are thrilled to partner with Gap Inc. and Mastercard to offer a suite of credit cards that elevates rewards and experiences for millions of loyal customers who love to shop at Old Navy, Gap, Banana Republic and Athleta. What’s more, through an annual contribution to Gap Inc.’s Do Good program, we are helping to strengthen communities through initiatives that empower and support women, youth, and the underserved to bolster our shared commitment to drive positive social change.”
Overall, although these Gap Inc. co-branded cards are in line with other retail offerings, what makes them slightly more interesting is the launch promotion. With the ability to earn 5x points on all purchases for upwards of six months (depending on when customers apply and are approved for a card), this could well prove to be a lucrative bonus for some shoppers. That said, considering that these points can only be redeemed at Gap Inc. brands and that this earning rate is only for a short time, the usefulness of the card may be limited. Still, fans of these brands may consider these updated options.
