Should You Get the Old Navy Credit Card in 2024?

The allure of discounts and rewards can be strong, especially when it comes to your favorite stores. The Old Navy credit card tempts shoppers with points redeemable for savings, but is it really all sunshine and rainbows? Let's dive into the details to see if this card is a keeper for your wallet.

The Rewards: Filling Your Shopping Bags

The Old Navy credit card offers a compelling perk: 5 points for every dollar spent at Old Navy and other Gap Inc. brands (Gap, Banana Republic, Athleta). These points add up quickly, translating into sweet discounts on clothes, accessories, and home goods. Plus, some cards come with extra benefits like free shipping, early access to sales, and a welcome discount.

The Catch: Interest Rates That Bite

Here's where things get a little less cheerful. The Old Navy credit card boasts a hefty APR (Annual Percentage Rate) of 25.99%. This means if you don't pay your balance in full each month, interest charges can quickly devour your hard-earned rewards.

So, Is the Old Navy Card Right for You?

Before you hit "apply," consider your shopping habits:

• Are you a Gap Inc. devotee? If Old Navy, Gap, and Banana Republic are your go-to stores, the rewards program can be highly beneficial.
• Do you carry a balance? If the answer is yes, stay clear! The high APR will outweigh any points you earn.
• Are there better options? Explore cards that offer wider reward options or better benefits for your spending habits.

The Final Verdict:

The Old Navy credit card can be a good fit for frequent Gap Inc. shoppers who religiously pay their balance in full. However, if you carry a balance or have diverse shopping habits, a different card might be a more strategic choice. Remember, responsible credit card use is key!

Beyond the Blog:

• Consider department store credit cards if you shop across various brands.
• Look for cards with cash-back rewards or travel points for more flexible benefits.
• Always compare APRs before applying to avoid interest rate headaches.

Do your research, choose wisely, and happy shopping!