Synchrony Bank is the issuer of both the Gap card and the Gap Visa®. Although you can use the Gap Visa anywhere Visa is accepted, the Gap card is specifically for shopping at the Gap, Old Navy, Athleta and Banana Republic. Both cards allow cardholders to earn rewards toward merchandise at any of the Gap Factory stores. In the event that you want to switch to a card with a different rewards program or one with a lower APR, you'll have the option of closing out your Gap credit card.
Determine if Canceling the Card is Best
Since closing a credit card account can negatively affect a person's credit score, it's a good idea to first take a look at whether it is better to close the account, or simply leave it open without using the card. Neither the Gap card nor the Gap Visa has an annual fee, so that isn't a factor; however, both come with a high APR of 26.24 percent. If you aren't able to pay the card in full each month, it is better to close the account and find a card with a lower APR.
You also need to take into account the amount of time you've had your Gap credit card. The longer you have a card and use it responsibly, the better for your credit rating. If you've had the card close to 10 years, you should probably keep the account open, but closing out cards you've had for only a few short years might not affect your credit score very much.
Redeem Rewards and Pay Off the Remaining Balance
Before you close your Gap credit card account, visit one of the Gap factory stores and use up your rewards. Then sign in to Gap's card member account service online and pay off any remaining balances you have on the card. If you prefer to make the payment with a check instead of using the online portal, you can wait until you get your monthly statement in the mail. The statement will come with a payment stub that lists the amount owed.
Cancel the Gap Credit Card
There are two options when closing a Gap credit card account: You can mail a written request to Gap Card Services, PO Box 965004, Orlando, FL 32896-5004. Make sure you list your name, address and credit card account number on the request. You can also call customer service using the telephone number on the back of your card, or call 1-800-887-1198. Simply inform the customer service representative that you'd like to close your account. In addition to your account number, you might have to verify your identity by providing your Social Security number.