Gap, Inc. is the company behind major clothing brands such as Gap, Banana Republic, Old Navy, and Athleta—all of which have store-branded credit cards for earning rewards and discounts on brand purchases. Consumers who already have a store card from one of the Gap, Inc. brands will be transitioned to updated Barclays cards in May 2022, according to an announcement Tuesday. Synchrony Bank, the bank currently behind Gap-branded store cards, decided not to renew its partnership with the retailer once it ends April 30, 2022. The retail giant sees the new cards as part of a bigger plan to deliver better rewards to loyal shoppers after refreshing its rewards programs in September 2020, according to its release. But there’s no word on what exactly that will mean for credit card holders just yet. Details about interest rates and fees aren’t available right now, either. These broad, near-future changes will impact consumers who have one of the following store cards, or a more flexible Visa-branded version:
Gap Credit Card Gap Silver Credit CardBanana Republic Credit Card (no longer available as of 5/31/2022)Banana Republic Luxe Credit CardOld Navy Credit Card (no longer available as of 5/31/2022)Navyist Credit CardAthleta Credit Card
Synchrony told The Balance via email that consumers who already have a Gap store-branded card can continue to use it through April 2022, and accounts will not be closed outright before then. Synchrony is not taking down applications for the old cards, either, so if you want to apply for a new card before the changes take place, that will also be an option. Current cardholders will receive more information about this change in the months ahead, according to Synchrony and Gap.
