If you’re thinking of Old Navy, perhaps credit cards aren’t the first thing that springs to mind. But like a lot of successful brands, the popular clothing retailer has its own, specially designed credit card to reward its loyal customers.
The Old Navy Credit Card has its advantages and disadvantages, so in this article you will read how it compares – and ask yourself if it is right for you. You’ll also get to learn about Wise and how it can save you some cash.
The Key Features of the Old Navy Credit Card.
Before getting into the details, here’s an overview of the Old Navy Credit Card’s features:
- Earn points, most of all at Gap Inc. stores (including online)
- Access sales early
- No annual fee
- Zero fraud liability
- There is a variable purchase APR of 25.99%. Purchase APR is 25.99% variable.
- Perks available after 5,000 points have been accumulated.
Card Types
First off, you should know that there are several different credit cards on offer from Old Navy.
- Standard option: New members can choose to get a standard card which can only be used in Gap Inc. stores.
- Visa card: New members can also get a Visa card that can be used anywhere in the Visa network – that is, almost everywhere – with no store restrictions
- Navyist: If you complete 5,000 points with either of the two cards, you’ll get upgraded to a Navyist Credit Card, which will operate in the same manner with a few additional benefits. To maintain Navyist status, cardholders have to requalify every calendar year.
These are not Old Navy cards but those of Synchrony Bank. What value are these cards? The next question is that.
Rewards: Carefully Select the Card and the Retailer
When you have any credit card, you’ll want to read very carefully what you can do to earn points and receive rewards. The best use of an Old Navy Credit Card is likely to be when you are using the Old Navy credit card to shop at Old Navy, or perhaps at any other Gap Inc. store – real or virtual.
1. Old Navy Credit Card holders earn 5 points for every purchase they make at Gap Inc. stores. It can only be utilised in such shops, online or retail.
2. The Visa card can be used outside Gap Inc. brands, but doing so will get you just 1 point per dollar spent
3. Extra with the Navylist Credit Card (which can be upgraded upon reaching 5,000 points):
- Free 3-5 day shipping on any online order with Gap Inc. brands
- 20% extra points per quarter, based on the points you get quarterly
- Free changes on purchases (Only for purchases in Banana Republic)
- Private and free priority line: 866-450-5295
But it’s also important to think about what you can do with all these points.
Only at Gap Inc. Brands can you Earn Redeeming Rewards.
What can you redeem your points for? Every 500 points you earn will give you $5 in rewards.
There’s one problem, though: you can only use them when you’re shopping at Gap Inc. brands.
What brands are a part of Gap Inc.? Here’s the list:
- Old Navy
- Gap
- Banana Republic
- Athleta
- Gap Factory
- Banana Republic Factory
Any points earned outside of those stores, real or virtual, will not be redeemed. You’ll need to enjoy shopping for clothes.
The fine print on rewards is also important to take into account. They can only be given out in $5 increments up to $50 at a time. If you make 999 points one month, you will only receive $5 in return, but you are one point away from the next reward.
The other benefit of this is that points do roll over from one billing cycle to the next, so you’ll begin with 499 points next time. If no card is used for 24 months, they will be cancelled.
In addition, you can only use 3 rewards at a time in-store and 5 at a time online/on the phone.
Other Benefits
All Old Navy credit card options offer access to popular sales, some exclusive offers, and no liability for fraud. There are also a few offers and promotions available just for Visa cardholders.
Interest Rates and Fees
The not-so-enjoyable part of selecting any credit card is to confront the worst-case scenario – what occurs if you don’t pay back the card promptly? You might find that you’re better off without points, but a missed payment can have serious repercussions on your bank account.
The Old Navy Credit Card is free of annual fees. However, you may have a fluctuating purchase APR of 25.99% at this time. A minimum interest charge of $2 is required.
How to Submit an Application
Applying for an Old Navy Credit Card is easy: you can do it via Old Navy’s website. During the signup process, you can also put your name down for emails and paperless statements in order to get a bunch more points.
Or you might be able to enjoy 20% discounts on purchases at present by opening a card account.
This is a credit card, after all, so there’s no guarantee that you’ll be approved. An SSN will be requested.
Old Navy Credit Card: Benefits and Drawbacks
There are upsides and downsides to the Old Navy Credit Card, and its benefits will ultimately depend on you and your own shopping habits. But now our analysis of where it’s at.
Conclusion
It’s a weird one: If you’re thinking about getting an Old Navy Credit Card, you might think you’d do better with the Visa credit card option, since it could be used in so many places – but it may be better to stick with the basic Gap Inc. brand.
Because if you’re reading this, you can only redeem your rewards when you shop at Old Navy, Gap, and others. Other credit cards will provide you with more possibilities of earning from those earned points – there is likely to be a card available that provides you with a reward plan that is literally more rewarding than your normal purchasing.
But if you consider the Old Navy card in another way, it may actually be a good deal. Use it more like a store discount system than a credit card, and it can result in some significant savings at a number of clothing retailers. If that is the case, that could come in handy, particularly for families with children who, well, wear a ton of clothes.
Please keep in mind, of course, the high APR. If you’re in any danger of not paying it off one month, you could well end up regretting it.
All in all, the Old Navy Credit Card could be perfect for you – if you’re an extremely frequent shopper with Gap Inc. brands and you’re confident and secure with your monthly finances.
If not, there’s a possibility that there are other credit cards available that will work better for you.
