Banana Republic Credit Card: Is it Worth Buying?

Banana Republic Credit Card is issued by Synchrony Bank, which was previously known as GE Bank. It is one of the most productive credit cards for frequent shoppers. The trick of using Banana Republic VISA Card is pretty simple. The more dollars you spend, the more reward you get which gets converted into currency once it reaches the set limit of spending. Shoppers who are a regular in stores like GAP, Old Navy¬†and Athleta simply swear by it. But like every Credit Card, Banana Republic Credit Card also has a few hits and misses. Let’s know about them.

Banana Republic Credit Card Review

The Bounties: First of all, users of Banana Republic Credit Card earn five points for every dollar spent at GAP, Old Navy, Banana Republic and Athleta stores. It only gets better as one reward point is added for every dollar spent at any store that accepts VISA card. More bounties follow in the form, 15% savings that can be enjoyed on first purchase at BananaRepublic.com within 90 days. If you opt for signing up for paperless statements, another 500 points can be accumulated as Banana Republic Rewards. For as many as 5000 points you get Reach Luxe status.

Banana Republic Credit Card

For its loyal users Banana Republic Credit send them birthday gift for free every year. If you are an online shopper, you get to enjoy free delivery on any orders above $50. This card also has reliable security option which is strengthened with chip technology along with signature detection. Plus there are many attractive deals to save some extra money, something only the Banana Republic Credit Card users can enjoy. The icing on the cake, there is no annual fee whatsoever.

Banana Republic Credit Card disadvantages?

While the Banana Republic Rewards are pretty lucrative, the benefits are limited to its nominated stores of GAP, Old Navy, etc. Earning a Reach Luxe status for Banana Republic credit cards come with a price and one has to spend minimum eight hundred dollars annually. Some may also find the annual percentage rate of 23.99% which is incredibly huge. All this for a credit card that does not have a great sign-up bonus may not go well with many. Banana Republic credit card has the usual 5% bonus for sign-up, and the 15% bonus is, of course, a far cry.

One must also be aware of the fact that there is a late payment penalty of $35, and this is the biggest confusion of getting Banana Republic VISA Card. So here it is – Banana Republic VISA card can be within reach of those who show high numbers on their Banana cards. Also, the new Banana Republic credit card holders have nothing to cheer about unless they spend few hundred dollars. Of late it has come under a lot of scrutinies as negative feedbacks about poor customer services are coming from all corners. It also got into a legal wrangle with Consumer Financial Protection Bureau and the Department of Justice as its business model and operation were found to be questionable.

This is your turn now! Do you feel it is useful? Are you moving forward to get Banana Republic Credit Card? Feel free to comment below.

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