5 Things to Know About the Banana Republic Credit Card

The card earns rewards, but it also offers plentiful perks that Banana Republic fans might find even more valuable.
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Updated · 1 min read
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Written by Kenley Young
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Edited by Paul Soucy
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As store-branded credit cards go, the Banana Republic Rewards Mastercard® Credit Card is fairly fruitful for fans who buy from the clothing retailer in bunches.

The card, issued by Barclays, earns store rewards, sure, but it also offers plentiful perks that cardholders might find even more valuable: access to exclusive offers and free shipping on qualifying orders, to name a few. The card’s annual fee is $0.

It won’t earn you traditional cash back, and it’s not ideal for carrying a balance. But if you’re bonkers for Banana Republic, its co-branded card has some appeal, if you can avoid slip-ups.

1. The rewards are solid ...

The Banana Republic Rewards Mastercard® Credit Card rewards you for shopping at Banana Republic and at sister brands under the Gap Inc. umbrella, including Gap, Old Navy and Athleta. There is a store-only version of the card, but the Banana Republic Rewards Mastercard® Credit Card can be used anywhere Mastercard is accepted. It earns:

  • 5 points for every $1 spent on Gap Inc. brands, in-store and online.

  • 1 point for every $1 spent elsewhere.

2. ... But they're inflexible

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Points are worth 1 cent each, but they’re not redeemable for cash and can be used only as in-store currency. In other words, $10 in rewards allows you to knock $10 off a purchase. If you want more flexible rewards, you might do better with a simple flat-rate cash-back credit card such as the Capital One Quicksilver Cash Rewards Credit Card. It earns an unlimited 1.5% cash back on every purchase, except for hotels and rental cars booked through Capital One Travel — those purchases earn 5% back.

3. The sign-up bonus is valuable

The Banana Republic Rewards Mastercard® Credit Card currently offers the following to new cardholders:

  • 20% off their first Banana Republic purchase, as long as they do so within 14 days of account opening.

  • 5 points per $1 spent on every purchase (through January 2023), up from the usual 1 point per $1 on purchases made outside of Gap brands.

That could add up to a fair amount of value for Banana Republic enthusiasts.

4. Being an "Icon" helps you earn more

You can wring even more value out of the card if you qualify for "Icon" status. Eligible cardholders who earn at least 5,000 points in a calendar year will be upgraded to Icon status, which may entitle them to multiple additional benefits, including:

  • A quarterly bonus of 500 points.

  • Free two- to three-day shipping with a purchase of $50 or more.

  • Free basic alterations on qualifying Banana Republic purchases.

  • The ability to set up a “Choose Your Own Sale Day."

5. But don’t carry a balance

The Banana Republic Rewards Mastercard® Credit Card doesn’t offer an introductory interest-free period on purchases. The ongoing APR is 34.49% Variable APR. That's quite a bit higher than the average rate on credit card accounts that incur interest.

So this particular store card is neither good for financing a new wardrobe nor for carrying an ongoing balance.

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