FR833282333_GAP VISA CARD 
T&C DC PDF
12/13

GE CAPITAL RETAIL BANK
SECTION I: RATES AND FEES TABLE
GAP INC. VISA CARD ACCOUNT AGREEMENT
PRICING INFORMATION

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

APR for Balance 
Transfers

The APR for purchases is the prime rate plus 20.74%.

This APR will vary with the market based on the Prime Rate.

The APR for balance transfers is the prime rate plus 20.74%.

This APR will vary with the market based on the Prime Rate.

APR for Cash Advances

The APR for cash advances is the prime rate plus 22.74%.

Paying Interest

This APR will vary with the market based on the Prime Rate.

Your due date is at least 23 days after the close of each billing cycle. We will not charge 
you any interest on purchases if you pay your entire balance by the due date each month. 
We will begin charging interest on cash advances and balance transfers on the transaction 
date.

Minimum Interest Charge

If you are charged interest, the charge will be no less than $1.50.

Fees

Transaction Fees
• Balance Transfer

• Cash Advance
• Foreign Transaction

Penalty Fees

• Late Payment

Either $5 or 3% of the amount of each transfer, whichever is greater.

Either $10 or 4% of the amount of each cash advance, whichever is greater.

3% of each transaction.

Up to $35

How We Will Calculate Your Balance: We use a method called “daily balance”. See your credit card account agreement on the 
next page for more details.

SECTION II: RATES, FEES AND PAYMENT INFORMATION 
GAP INC. VISA CARD ACCOUNT AGREEMENT

How Interest is Calculated

Your Interest Rate

We use a daily rate to calculate the interest on the balance on your account each day. The daily rate is the applicable 
APR times 1/365. Interest will be imposed in amounts or at rates not in excess of those permitted by applicable law.
The APR for purchases is the prime rate plus 20.74%. As of August 1, 2013 the daily rate for purchases was 
.06573% (APR 23.99%).
The  APR  for  balance  transfers  is  the  prime  rate  plus  20.74%.  As  of  August  1,  2013  the  daily  rate  for  balance 
transfers was .06573% (APR 23.99%).
The APR for cash advances is the prime rate plus 22.74%. As of August 1, 2013 the daily rate for cash advances 
was .07121% (APR 25.99%).
Daily Rates May Vary. The APRs and the daily rates on your account vary with the market based on the prime 
rate. The prime rate for a billing cycle is the highest bank prime loan rate published in The Wall Street Journal in 
its Money Rates section on the last business day of the calendar month preceding the first day of the billing cycle.
If the prime rate increases, the daily rates and APRs will increase. As a result, interest, your total minimum payment 
and  the  number  of  payments  it  would  take  you  to  pay  off  your  account  balance  may  increase.  We  apply  any 
change in rates because of a prime rate change to your entire account balance. A change in the prime rate will 
take effect on the first day of the first billing cycle after the change. We may select a new interest rate index if the 
prime rate is not available.

When We Charge Interest 

How We Calculate 
Interest

How Fees Work 

Balance Transfer Fee 

Cash Advance Fee

Foreign Transaction Fee

Purchases.  We  charge  interest  on  your  purchases  from  the  date  you  make  the  purchase  until  you  pay  the 
purchase in full. See exceptions below.
• We will not charge you interest during a billing cycle on any purchases if:
  1. You had no balance at the start of the billing cycle; OR
  2.  You had a balance at the start of the billing cycle and you paid that balance in full by the due date in that billing 

cycle.

•  We will credit, as of the start of the billing cycle, any payment you make by the due date that we allocate to 

purchases if:

  1. You had no balance at the start of the previous billing cycle; OR
  2.  You had a balance at the start of the previous billing cycle and you paid that balance in full by the due date in 

the previous billing cycle.

Balance  Transfer  and  Cash  Advances.  We  charge  interest  on  your  balance  transfers  and  cash  advances, 
and their related fees, from the date you make the transaction until you pay them in full. You cannot avoid paying 
interest on balance transfers or cash advances or their related fees.

We figure the interest charge on your account separately for each balance type. We do this by applying the daily 
rate to the daily balance for each day in the billing cycle. A separate daily balance is calculated for the following 
balance  types,  as  applicable:  purchases,  balance  transfers,  cash  advances  and  balances  subject  to  different 
interest rates, plans or special promotions. See below for how this works.

1.  How to get the daily balance. We take the starting balance each day, add any new charges and fees, and 

subtract any payments or credits. This gives us the daily balance.
We apply fees to balance types as follows:
(a) late payment fees are treated as new purchases; 
(b) debt cancellation fees are added proportionately to each balance;
(c) cash advance fees are added to the cash advance balance; 
(d) balance transfer fees are added to the balance transfer balance; and
(e) foreign transaction fees are added to the purchase balance.

2. How to get the daily interest amount. We multiply each daily balance by the daily rate that applies.
3.  How to get the starting balance for the next day. We add the daily interest amount in step 2 to the daily 

balance from step 1.

4.  How to get the interest charge for the billing cycle. We add all the daily interest amounts that were charged 

during the billing cycle.

We charge a minimum of $1.50 of interest in any billing cycle in which you owe interest. This charge is added 
proportionately to each balance type. 

We will charge this fee for each balance transfer you make.

We will charge this fee for each cash advance you make. For ATM cash advances this fee is in addition to any fee 
the ATM owner may charge you for use of the ATM. 

We will charge this fee for purchases or cash advances you make in currencies other than U.S. dollars and/or in a 
country other than the U.S., whether or not the transaction was in a foreign currency. 
If you make a transaction with your account in a currency other than U.S. dollars, Visa U.S.A. Inc. (“Visa”) will 
convert  the  transaction  amount  into  U.S.  dollars  using  its  currency  conversion  procedure.  Under  the  currency 
conversion  procedure  that  Visa  currently  uses,  the  non-U.S.  dollar  transaction  amount  is  converted  into  a  
U.S. dollar amount by multiplying the transaction amount in the non-U.S. dollar currency by a currency conversion 
rate. Currently, Visa operating regulations provide that the currency conversion rate is either (1) a rate selected 
by  Visa  from  the  range  of  rates  available  in  wholesale  currency  markets  for  the  applicable  central  processing 
date, which rate may vary from the rate Visa itself receives, or (2) the government-mandated rate in effect for the 
applicable central processing date. The currency conversion rate that is in effect on the central processing date 
may differ from the rate in effect on the transaction date or the posting date, and may be higher than the rate you 
could have gotten if you had converted U.S. dollars into the foreign currency.

Late Payment Fee

We will charge this fee if we do not receive the total minimum payment due on your account by 5 p.m. (ET) on the 
due date. This fee is equal to:

1.  $25, if you have paid your total minimum payment due by the due date in each of the prior six billing cycles.
OR
2.  $35, if you have failed to pay your total minimum payment due by the due date in any one or more of the 

prior six billing cycles.

The late payment fee will not be more than the total minimum payment that was due.

Minimum Payment Calculation 
Your total minimum payment is calculated as follows.
The greater of:

1. $25 (which includes any past due amounts)
OR
2. The sum of:

a. Any past due amounts; PLUS
b. 1% of your new balance shown on your billing statement; PLUS
c. Any late payment fees charged in the current billing cycle; PLUS
d. All interest charged in the current billing cycle; PLUS
e. Any payment due in connection with a special promotional purchase with a unique payment calculation. 

We round up to the next highest whole dollar in figuring your total minimum payment. Your total minimum payment will never be more than your new balance.

SECTION III: STANDARD PROVISIONS 
GAP INC. VISA CARD ACCOUNT AGREEMENT

ABOUT THE CREDIT CARD ACCOUNT AGREEMENT

This Agreement. This is an Agreement between you and GE Capital Retail Bank, 170 Election Road, Suite 125, Draper, UT 84020, for your credit card 
account shown above. By opening or using your account, you agree to the terms of the entire Agreement. The entire Agreement includes the four sections 
of this document and the application you submitted to us in connection with the account. These documents replace any other agreement relating to your 
account that you or we made earlier or at the same time.
Parties To This Agreement. This Agreement applies to each accountholder approved on the account and each of you is responsible for paying the full  
amount due, no matter which one uses the account. We may treat each of you as one accountholder and may refer to each of you as “you” or “your”.  
GE Capital Retail Bank may be referred to as “we”, “us” or “our”.
Changes To This Agreement. We may change, add or delete terms of this Agreement, including interest rates, fees and charges.
Special Promotions. The terms of this Agreement apply to any special promotion. However, any special promotional terms that are different than the 
terms in this Agreement will be explained on promotional advertising or other disclosures provided to you.

HOW TO USE YOUR ACCOUNT/CARD

Use Of Your Account. You may use your account only for lawful personal, family or household purposes. You may use your account for purchases 
from Gap, Old Navy, Banana Republic, Piperlime or Athleta retail, online or Outlet/Factory stores located in the U.S., Puerto Rico and Canada, and from 
any merchant that accepts Visa credit cards. You may get cash advances as further explained below. From time to time, we may offer you the chance to 
transfer balances from your other credit card accounts to this account. Details of the terms applicable to balance transfer will be provided with the offer. 
You may not use your account to pay amounts you owe us on this account or any other accounts you have with us.
Cash Advances. We may offer you the opportunity to get a cash advance with convenience checks that we send you. We may not honor a convenience 
check for any reason stated on the check. You can also get cash or make a withdrawal from any institution or ATM that accepts the card or the account. 
In addition, we will treat any purchase of certain cash like items as cash advances. Cash like items include for example, money orders, cashier’s checks, 
traveler’s  checks,  electronic  or  wire  transfers,  foreign  currency  or  other  in  bank  transactions,  tax  payments,  lottery  tickets  or  other  legalized  gambling 
transactions, court costs, bail bonds and fines.
You Promise To Pay. You promise to pay us for all amounts owed to us under this Agreement. 
Your Responsibility. Each accountholder will receive a card. You may not allow anyone else to use your account. If you do, or if you ask us to send a 
card to someone else, you will be responsible for paying for all charges resulting from their transactions.
Transaction Limits. To prevent fraud, we may limit the number or dollar amount of any type of transactions you can make in any particular amount of 
time. We also may decline any particular charge on your account for any reason.
Credit Limit. You will be assigned a credit limit and cash advance limit on your account that we may increase or decrease from time to time. If we approve 
a transaction that makes you go over your credit limit or your cash advance limit, we do not give up any rights under this Agreement and we do not treat 
it as an increase in either limit. 

HOW AND WHEN TO MAKE PAYMENTS

When Payments Are Due. You must pay at least the total minimum payment due on your account by 5 p.m. (ET) on the due date of each billing cycle. 
Payments received after 5 p.m. (ET) will be credited as of the next day. You may at any time pay, in whole or in part, the total unpaid balance without any 
additional charge for prepayment. If you have a balance subject to interest, earlier payment may reduce the amount of interest you will pay. We may delay 
making credit available on your account in the amount of your payment even though we will credit your payment when we receive it.
Payment Options. You can pay by mail or online. We may allow you to make payments over the phone but we will charge you a fee to make expedited 
phone payments. Your payment must be made in U.S. dollars by physical or electronic check, money order or a similar instrument from a bank located in 
the United States.
How To Make A Payment. You must follow the instructions for making payments provided on your billing statement. If you do not, credit of your payment 
may be delayed up to five days. Your billing statement also explains how information on your check is used.
Payment Allocation. We will apply the required total minimum payment to balances on your account using any method we choose. Any payment you 
make in excess of the required total minimum payment will be applied to higher APR balances before lower APR balances. Applicable law may require or 
permit us to apply excess payments in a different manner in certain situations, such as when your account has a certain type of special promotion.

INFORMATION ABOUT YOU 

Using And Sharing Your Information. When you applied for an account, you gave us and The Gap, Inc. (Gap Inc.) information about yourself that we 
could share with each other. Gap Inc. will use the information in connection with the credit program and for things like creating and updating its records 
and offering you special benefits. More information about how we use and share information is set forth in the privacy policy for your account. 
Address/Phone Change. You agree to tell us right away if you change your address or phone number(s). We will contact you at the address or phone 
number in our records until we update our records with your new address or phone number. 
Consent To Communications. You consent to us contacting you using all channels of communication and for all purposes. We will use the contact 
information you provide to us. You also consent to us and any other owner or servicer of your account contacting you using any communication channel. 
This may include text messages, automatic telephone dialing systems and/or an artificial or prerecorded voice. This consent applies even if you are charged 
for the call under your phone plan. You are responsible for any charges that may be billed to you by your communications carriers when we contact you.
Telephone Monitoring. For quality control, you allow us to listen to and/or record telephone calls between you and us.

IMPORTANT INFORMATION ABOUT YOUR ACCOUNT 

Closing Your Account. You may close your account at any time by sending a letter to the address shown on your billing statement or calling customer 
service. We may close your account at any time, for any reason. If your account is closed, you must stop using it. You must still pay the full amount you 
owe and this Agreement will remain in effect until you do.
Collection Costs. If we ask an attorney who is not our salaried employee to collect your account, we may charge you our collection costs. These 
include court costs and reasonable attorneys’ fees.
Credit  Bureau  Reporting.  We  may  report  information  about  your  account  to  credit  bureaus.  Late  payments,  missed  payments,  or  other  defaults 
on your account may be shown in your credit report. Tell us if you think we reported wrong information about you to a credit bureau. Write to us at  
P.O. Box 965005, Orlando, FL 32896-5005. Tell us what information is wrong and why you think it is wrong. If you have a copy of the credit report that 
includes the wrong information, send us a copy. 
Default. You are in default if you make a late payment, do not follow any other term of this Agreement or become bankrupt or insolvent. If you default 
or upon your death, we may (a) request payment of the full amount due right away, (b) take legal action to collect the amounts owed, and/or (c) take 
any other action allowed. 
Disputed Amounts. The billing rights summary in section IV of this Agreement describes what to do if you think there is a mistake on your 
bill. If you send us correspondence about a disputed amount or payment, you must send it to the address for billing inquiries. We do not 
give up any rights under this Agreement if we accept a payment marked “payment in full” or given with any other conditions or limitations.
Unauthorized Use. If your card is lost, stolen or used without your consent, call us immediately at 1-866-450-4467 for Gap Visa Card Accounts, 
1-866-450-2330 for Banana Republic Visa Card Accounts and 1-866-450-5294 for Old Navy Visa Card Accounts. You will not be liable for unauthorized 
use on your account, but you will be responsible for all use by anyone you give your card to or allow to use your account.
Transactions Processed On The Visa Network. Transactions made using your credit card in a Gap Inc. store or at a Gap Inc. website are processed 
by GE Capital Retail Bank and are not processed on the Visa network. As a result, these transactions are not eligible for certain benefits that apply 
to  transactions  processed  over  the  Visa  network.  For  example,  transactions  in  a  Gap  Inc.  store  or  at  a  Gap  Inc.  website  do  not  count  as  eligible 
transactions for promotions that are sponsored by Visa, such as “Visa Extras”. Your account is protected against unauthorized use as provided in this 
Agreement. In addition, Visa’s Zero Liability policy applies to all transactions not made in a Gap Inc. store or on a Gap Inc. website.

IMPORTANT INFORMATION ABOUT THIS AGREEMENT 

Assignment. We may sell, assign or transfer any or all of our rights or duties under this Agreement or your account, including our rights to payments. We 
do not have to give you prior notice of such action. You may not sell, assign or transfer any of your rights or duties under this Agreement or your account.
Enforceability. If any part of this Agreement is found to be void or unenforceable, all other parts of this Agreement will still apply.
Governing Law. Except as provided in the Resolving a Dispute with Arbitration section, this Agreement and your account are governed by federal law 
and, to the extent state law applies, the laws of Utah without regard to its conflicts of law principles. This Agreement has been accepted by us in Utah.
Waiver. We may give up some of our rights under this Agreement. If we give up any of our rights in one situation, we do not give up the same right in another 
situation.

RESOLVING A DISPUTE WITH ARBITRATION 

PLEASE READ THIS SECTION CAREFULLY. IF YOU DO NOT REJECT IT, THIS SECTION WILL APPLY TO YOUR ACCOUNT, AND MOST 
DISPUTES  BETWEEN  YOU  AND  US  WILL  BE  SUBJECT  TO  INDIVIDUAL  ARBITRATION.  THIS  MEANS  THAT:  (1)  NEITHER  A  COURT 
NOR  A  JURY  WILL  RESOLVE  ANY  SUCH  DISPUTE;  (2)  YOU  WILL  NOT  BE  ABLE  TO  PARTICIPATE  IN  A  CLASS  ACTION  OR  SIMILAR 
PROCEEDING; (3) LESS INFORMATION WILL BE AVAILABLE; AND (4) APPEAL RIGHTS WILL BE LIMITED.

• What claims are subject to arbitration

1.  If either you or we make a demand for arbitration, you and we must arbitrate any dispute or claim between you or any other user of your 

account, and us, our affiliates, agents and/or Gap Inc. if it relates to your account, except as noted below. 

2.  We will not require you to arbitrate: (1) any individual case in small claims court or your state’s equivalent court, so long as it remains an 
individual case in that court; or (2) a case we file to collect money you owe us. However, if you respond to the collection lawsuit by claiming 
any wrongdoing, we may require you to arbitrate.

3.  Notwithstanding  any  other  language  in  this  section,  only  a  court,  not  an  arbitrator,  will  decide  disputes  about  the  validity,  enforceability, 
coverage or scope of this section or any part thereof (including, without limitation, the next paragraph of this section and/or this sentence). 
However, any dispute or argument that concerns the validity or enforceability of the Agreement as a whole is for the arbitrator, not a court, to 
decide.

• No Class Actions

YOU AGREE NOT TO PARTICIPATE IN A CLASS, REPRESENTATIVE OR PRIVATE ATTORNEY GENERAL ACTION AGAINST US IN 
COURT OR ARBITRATION. ALSO, YOU MAY NOT BRING CLAIMS AGAINST US ON BEHALF OF ANY ACCOUNTHOLDER WHO IS 
NOT AN ACCOUNTHOLDER ON YOUR ACCOUNT, AND YOU AGREE THAT ONLY ACCOUNTHOLDERS ON YOUR ACCOUNT MAY 
BE JOINED IN A SINGLE ARBITRATION WITH ANY CLAIM YOU HAVE. 
If a court determines that this paragraph is not fully enforceable, only this sentence will remain in force and the remainder will be null and void, 
and the court’s determination shall be subject to appeal. This paragraph does not apply to any lawsuit or administrative proceeding filed against 
us by a state or federal government agency even when such agency is seeking relief on behalf of a class of borrowers, including you. This means 
that we will not have the right to compel arbitration of any claim brought by such an agency.

• How to start an arbitration, and the arbitration process

1.  The party who wants to arbitrate must notify the other party in writing. This notice can be given after the beginning of a lawsuit or in papers filed 
in  the  lawsuit.  Otherwise,  your  notice  must  be  sent  to  GE  Capital  Retail  Bank,  Legal  Operation,  P.O.  Box  29110,  Shawnee  Mission,  KS  66201,  
ATTN: ARBITRATION DEMAND. The party seeking arbitration must select an arbitration administrator, which can be either the American Arbitration 
Association  (AAA),  1633  Broadway,  10th  Floor,  New  York,  NY  10019,  www.adr.org,  (800)  778-7879,  or  JAMS,  620  Eighth  Avenue,  34th  Floor,   
New York, NY 10018, www.jamsadr.com, (800) 352-5267. If neither administrator is able or willing to handle the dispute, then the court will appoint 
an arbitrator. 

2.  If a party files a lawsuit in court asserting claim(s) that are subject to arbitration and the other party files a motion with the court to compel 

arbitration, which is granted, it will be the responsibility of the party asserting the claim(s) to commence the arbitration proceeding. 

3.  The arbitration administrator will appoint the arbitrator and will tell the parties what to do next. The arbitrator must be a lawyer with at least ten 
years of legal experience. Once appointed, the arbitrator must apply the same law and legal principles, consistent with the FAA, that would 
apply in court, but may use different procedural rules. If the administrator’s rules conflict with this Agreement, this Agreement will control. 
4.  The arbitration will take place by phone or at a reasonably convenient location. If you ask us to, we will pay all the fees the administrator or 
arbitrator charges, as long as we believe you are acting in good faith. We will always pay arbitration costs, as well as your legal fees and costs, 
to the extent you prevail on claims you assert against us in an arbitration proceeding which you have commenced.

 
 
 
 
 
 
 
 
 
 
• Governing Law for Arbitration

 This Arbitration section of your Agreement is governed by the Federal Arbitration Act (FAA). Utah law shall apply to the extent state law is relevant 
under the FAA. The arbitrator’s decision will be final and binding, except for any appeal right under the FAA. Any court with jurisdiction may enter 
judgment upon the arbitrator’s award.

• How to reject this section

 You may reject this Arbitration section of your Agreement. If you do that, only a court may be used to resolve any dispute or claim. To 
reject this section, you must send us a notice within 60 days after you open your account or we first provided you with your right to 
reject this section. The notice must include your name, address and account number, and must be mailed to GE Capital Retail Bank, 
P.O. Box 965012, Orlando, FL 32896-5012. This is the only way you can reject this section.

SECTION IV: OTHER IMPORTANT INFORMATION 
GAP INC. VISA CARD ACCOUNT AGREEMENT
This section of the agreement includes state notices, billing rights summary and rewards terms (if applicable) and is not required to be provided as part of the 
credit card agreement posted online or provided to the CFPB.

FR833282333_GAP VISA CARD 
T&C DC PDF
12/13