• Adam Garrett

Gap Credit card to consider if spending >$40k between now & Jan 31 on non-bonus categories

Gap has come out with a decent sign-up bonus if you plan on doing a lot of spending (i.e. >$40k) on non-bonus categories between now and January 31 and happen to regularly purchase lots of retail clothes. The SUB includes 5% back on general spending with points acquired redeemable at one of Gap's family of brands (Gap, Banana Republic, Old Navy, Intermix, Athleta, and Janie and Jack). The more you would spend greater than $40k, the better the SUB is since it's uncapped.

I've seen better similar uncapped SUBS for travel redemptions before, for instance:

1. Chase Freedom Unlimited uncapped version of 3x for the 1st full year & then transferring the points to partners like Hyatt by having an annual fee incurring Chase Ultimate Rewards card w/ the TPG valuation for Chase UR at 2 cents per point for an effective return of 6%

2. There was recently an uncapped 3x on Wyndham, and that could be arguably if you use Wyndham for higher ($.017/pt) than the $.011/pt TPG valuations like a recent booking I did using Wyndham at 3 cents per point in redeemed value.

I've also seen and taken advantage of better $50k spend threshold SUBS, i.e. some historic high ones with Capital One Spark Miles card, Capital One Spark Cash card, and am about to acquire the lucrative SUB on the Capital One Spark Cash Plus after a pending charge posts worth $6k ($8k including standard returns) after spending $50k if you value Capital One Miles at 2 cents per point and transfer all cashback earned to miles.

Still, most solid SUBs can only be used for travel or are not as lucrative as this one. For the right person, this card is a solid opportunity.

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