[Expired] Gap/Banana Visa Card: Get Free Costco Membership ($60 credit) + 5x Points

Update: 18 month language isn’t being enforced. esehmec is a current Costco member and was able to get their membership extended by 12 months. Keep in mind the link/offer has now expired so won’t work unless you already purchased it. Sorry for the confusion!

Reposting as it now specifically calls out all versions of this card. Keep in mind it still says ‘exclusive offer’ but I think this is probably publicly available if you have a qualifying card. Hat tip to reader Ben. Reps are also saying it’s open to everybody.

The Offer

Direct Link to offer

• If you’re not yet a Costco member, use your Athleta Visa Credit Card, Banana Republic Visa Credit Card, Gap Visa Credit Card, Old Navy Visa Credit Card or Gap Inc. Visa Signature Credit Card credit card to purchase a Costco Membership Activation Certificate to join Costco as a new member and receive a $60 statement credit to reimburse your first year’s the Gold Star membership fee.

This offer has a public link and is being sent out via email as well. Also mentioned in the email:

• Get 5x points per dollar at Costco when paying with your Gap/Banana Visa card from 10/1/18 – 12/31/18 (starts in October).

The Fine Print

• Please note your card statement for this purchase will show DCG One for Costco as the merchant of record.
• Valid 9/15/18-10/15/18.
• Offer is for a $60 statement credit toward new “Gold Star” or “Costco Executive” Costco membership fees only.
• Limit one credit per household.
• Applicable sales taxes and upgrade fees and/or additional membership costs are not included.
• To qualify as a new member, an existing Costco membership must be expired for 18 months or more.
• Offer not valid to renew or upgrade an existing Costco membership.
• Not valid for Business Membership.
• New Costco members must be 18 years or older.
• To qualify for this offer, you must purchase the Costco Gold Star Membership Activation Certificate using your Gap Inc. Visa Card at the link in this email (costcomembershipoffer.com/purchase/open/GapVisa).
• Please allow up to eight weeks after the offer end date for the $60 statement credit to post to your account; account must be in good standing and not become delinquent.
• This offer is valid for membership at any Costco location in the U.S. (including Puerto Rico).
• Qualifying members will be issued a Costco Membership Activation Certificate, which must be presented at Costco with valid government I.D.
• Member solely responsible for any tax liability.
• Costco Membership Activation Certificates are not replaceable if lost, stolen, or destroyed. Costco may refuse to honor any Membership Activation Certificate it believes was obtained by fraud or theft.
• Synchrony Bank is not responsible for this offer, and the offer is provided solely as a service to Gap Inc. Visa Cardholders.

**BONUS POINTS:

• For qualifying purchases made at Costco Wholesale Warehouse (MCC 5300) from 10/01/18 through 12/31/18, earn five (5) points for every net dollar spent.
• Account must remain open, in good standing, and not become delinquent.
• Points will post to account within two billing cycles of offer end date.
• See Reward Program Terms for details about earning and redeeming Rewards.

Our Verdict

The Costco membership deal has a public link so I guess that’s a public deal (?) (update: the link notes “Exclusive Offer for select Gap Inc. Visa members,” seems it’s a targeted offer). Both the membership deal and the 5x points are being sent out via email, check there is you got it. The emails are being sent out on Gap and Banana Republic Visa cards, though the public landing page for the Costco offer only shows the Gap Visa card as an option.

Chase Freedom and Discover are also offering 5% during Q4 2018 as part of their rotating categories. 

The credit presumably tracks based on the purchases showing on your Gap/BR card statement, so I’m doubtful if the terms requiring an 18-month lapse of membership will actually be enforced. Only thing is that maybe the membership certificate will state the 18-month terms in which case the Costco desk could deny you using the certificate if your membership lapsed less than 18 months ago. If you don’t need Costco membership or are an existing member, you can buy a certificate for your spouse, household member, or friend and get the $60 credit.

Hat tip to reader Luis