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.

Kenley Young
Assigning Editor | Credit cards, credit scores

Kenley Young directs daily credit cards coverage for NerdWallet. Previously, he was a homepage editor and digital content producer for Fox Sports, and before that a front page editor for Yahoo. He has decades of experience in digital and print media, including stints as a copy desk chief, a wire editor and a metro editor for the McClatchy newspaper chain.

Paul Soucy
Lead Assigning Editor | Credit cards, credit scoring, personal finance

Paul Soucy has led the Credit Cards content team at NerdWallet since 2015 and the Travel Rewards team since 2023. He was an editor with USA Today, The Des Moines Register and the Meredith/Better Homes and Gardens family of magazines for more than 20 years. He also built a successful freelance writing and editing practice with a focus on business and personal finance. He was editor of the USA Today Weekly International Edition for six years and received the highest award from ACES: The Society for Editing. He has a bachelor's degree in journalism and a Master of Business Administration. He lives in Des Moines, Iowa, with his wife, Sarah; his two sons; and a dog named Sam.

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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:

2. . But they're inflexible

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 with no minimum redemption requirements and no expiration date on rewards. Or check out NerdWallet's list of best credit card deals .

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:

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 34.99% 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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Kenley is an assigning editor at NerdWallet covering credit cards. He has worked for Yahoo and FoxSports.com as an editor and producer. See full bio.

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