After reading about the Banana Republic credit card’s generous marketing promotions over at MilesAbound, I was inspired to get my own to see what would happen. I can’t complain–I’ve received maybe $50 worth of clothing with minimal effort–but it hasn’t been amazing either.
Wow! 200 bonus points for every credit card purchase. 1,000 points gets you a $10 gift card, so that’s $2 for every purchase.
I was considerably less delighted to see the following condition for this promotion:
Well, nuts. But still: 25 purchases get me $50 of free clothing. Plus Old Navy / Gap / Banana Republic are always doing promotions with coupons, cardholder discounts, and the like so you can increase your yield.
Here’s a question: how much annual benefit does a card need to make it worth getting? If this card gave away $5 worth of clothing every year, nobody would care. If it gave away $500, there would probably be a lot more interest. Is $50 worth it? $100? What’s your cut-off point for getting a card with no sign-up bonus?