Old Navy Credit Card Review 2023

Old Navy offers a no-annual-fee credit card (in partnership with Barclays Bank) that lets you earn bonus reward points on your Old Navy purchases as well as your purchases at the other Gap Inc. brands (GAP, Banana Republic, and Athleta) and possibly other purchases, too. But is it worth adding to your wallet?

Cardholders Earn More Rewards

Old Navy has the Navyist Rewards program that lets you earn rewards as an Old Navy customer, regardless of whether you have the Old Navy credit card. However, if you DO have the Old Navy credit card, you will earn 5 points per dollar spent at Old Navy and the other Gap Inc. brands, while non-cardholders only earn 1 point per dollar in the program. (If you qualify for the Mastercard version of the credit card, you could also earn points on other purchases, too. More on that in a moment.)

Because each point is worth one cent when redeemed on future purchases, Old Navy credit card holders are getting a 5% reward on their purchases versus the 1% that non-cardholders are getting. So if you shop at Old Navy and the other Gap Inc. stores with any frequency, getting the card could make sense in order to earn rewards much faster.

Redeem Rewards at a Penny-Per-Point

You will earn $1 in rewards for every 100 points earned in the Navyist Rewards program. You can use these rewards in $1 increments with no minimum necessary to redeem, and you can use them in store or online to cover the full or partial cost of a purchase at Old Navy (or GAP or Banana Republic or Athleta).

Note that points are only good on purchases at these stores — you can NOT use points to get cash back or any other type of reward.

Points expire after 12 months unless you make a further purchase at Old Navy or one of the other Gap Inc. brands during the year after earning them.

Instant Approval and New Cardholder Bonus Offer

In most cases (but not all), when you apply for the Old Navy credit card, you will be approved instantly and be able to use the card on that same day. When you are approved, you will get 30% off of your first purchase with the card.

If you apply in an Old Navy store, you’ll get that discount immediately on the purchases you make that day. If you apply and are approved online, you’ll have 14 days to use the 30% discount on a single purchase, so it makes sense to only apply when you are ready to do some buying.

Old Navy Mastercard vs. Old Navy Store Credit Card

There are actually two different versions of the Old Navy credit card, and which you end up with will depend on your credit history:

  • When you submit your card application, you’ll first be considered for the Old Navy Mastercard, which can be used not only at Old Navy and the other Gap Inc. brands, but also anywhere else that Mastercard is accepted. If you are approved for the Old Navy Mastercard, you’ll also earn rewards points outside of Old Navy and Gap Inc. stores, though it will only be 1 point per dollar on those non-Old Navy/Gap purchases. (But possibly 2 points per dollar if you qualify for the World Mastercard version of the card. Confusing, I know. )
  • If you do NOT qualify for the Old Navy Mastercard, you will still be considered for the Old Navy store credit card, which is essentially the same, except it is only accepted at Old Navy and the other Gap Inc. stores and nowhere else.

And of course it is possible you’ll be turned down for both cards if your credit history is bad. We’ll talk more about that in a moment.

Other Rewards & Perks

The Navyist Rewards program also offers other perks, with some being exclusive to Old Navy credit card holders. These include:

  • Free shipping on online orders of $50 or more
  • Annual Brand Bonus: Earn an extra 500-2000 points per year if you shop at more than one Gap Inc. brand during that year
  • Quarterly Bonus: Earn an extra 125-500 bonus points each quarter, depending on your rewards program membership level. (Cardholders get 250 points unless they’ve reached the “Icon” level with $1000 worth of purchases in a year.)
  • Birthday Bonus: An extra discount during your birthday month.
  • “Icon” Perks: If you’ve spent at least $1000 within the Gap Inc. family of brands, you get boosted to “Icon” status and get an extra “Double Your Reward Day” as well as a 15%-off “Create Your Own Sale Day”

Interest Rate

The interest rate on the Old Navy credit card is a whopping 30.24%! While it’s nice to earn rewards with the card, you absolutely want to pay off your credit card in full every time your payment is due, because paying over 30% in interest will definitely cancel out any rewards you’re earning.

Avoid paying that high interest by paying off your complete card balance every month!

Credit Score Needed & Approval Chances

Like most retail store credit cards, your chances of being approved for the Old Navy credit card are better than they would be for major bank credit cards. While there are no guarantees, if your credit score is 650 or above, your odds of approval are very high, and you’ll probably be approved for the Mastercard version of the card.

If you are between a 625 and 649 credit score, you are likely to be approved for the Old Navy store card but not the Mastercard. If your credit score is below 625, your chances of approval will decline the further you are below that 625 score. Again, note that there is no guarantee on approval; these are simply guidelines.

Bottom Line

If you are a frequent shopper at Old Navy and/or the other Gap Inc. stores, it makes sense to get the Old Navy credit card, provided you don’t ever carry a balance and will thus avoid getting hit with that nasty interest rate. Getting a 5% reward on your purchases at Old Navy and the other Gap stores is nice, and this program is friendlier than some retail store programs that give you very little time to use your rewards after they are earned.

That said, we wouldn’t advise using the Old Navy Mastercard on other purchases outside of Old Navy and the Gap stores, because you’ll earn very little on those other purchases. Plus, the reward you receive can only be used toward Old Navy/Gap purchases, where there are many good Mastercard/Visa/American Express credit cards out there that would be better for purchases outside of Old Navy. See our Best Credit Cards page for other options on those non-Old Navy purchases.

How To Apply

You can apply for an Old Navy credit card in an Old Navy store or online. Click here for the online application.

Author: Adam Jusko

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