Gap Visa has more to offer to its clients in terms of the benefits that come along with the frequent use of the card. This card is mainly applicable to people who shop at the Gap stores or the affiliate stores. The card comes along with a reward program whereby for every dollar that one spends at the Gap, he/she earns 5 points and for every 1000 points that accumulate, one earns $10. The Gap Visa does not necessarily need to be used at the Gap, but it can be used elsewhere provided the location allows credit cards. If the card is used to pay for the purchases elsewhere, one is able to earn 1 point for every dollar spent on the card.
Review on the Gap Visa
The redeeming of the points can be done either at the Gap or affiliate stores. This card has been found to be less attractive because it does not have more to offer apart from the redeemable points. The Gap has come up with two types of credit cards; Gap card and Gap Visa. The unfortunate thing is that one does not have the freedom to choose between the two. The decision is made by the bank and this will depend on the fact that one has to qualify for the Gap Visa and later on, for the Gap card. In order for the client to qualify for the Gap Visa, he/she must report a good credit history.
The credit card can be upgraded to the silver status on the condition that one has to record $800 purchases within a period of one year and they have to be from the Gap stores. The disadvantage with this card is that it charges a higher APR, which is slightly more than the average. This means that applying for this card is not a great deal because one still has to pay more in terms of the APR.
Additional details on the card
In order to be eligible for this credit card, one has to have a fair to good credit history. If this is not the case, one has to make sure that he/she improves his/her credit status before applying for the card. The card has pros though they are few in number. First, one is entitled to rewards on all the purchases using the card, but if the purchases are from Gap, one will earn extra reward points.
The cons of the Visa
Gap Visa is less attractive to the customers because it does not have a lot to offer. First, a cardholder has to pay a high APR, which is more than average. On the other hand, there is a restriction on where the points are to be redeemed. The points can only be redeemed at the Gap or affiliate stores. This is too demanding if one wants to redeem his/her points. Unlike most of the Visas, Gap Visa charges a fee for the foreign transactions, but this has been neutralized with the no annual fee.