Maybe Synchrony Bank is unfamiliar to you, but it’s possible that you’ve previously done business with them. If you’ve ever been offered a retail credit card, chances are it was a Synchrony product.
What Companies Use Synchrony Bank? Synchrony Bank’s effect on the consumer financial services market has not gone ignored, despite the fact that it is not as well-known as other well-known banks.
Synchrony Bank is the bank behind many of the retail credit cards we use on a daily basis, including numerous well-known merchants, healthcare providers, and manufacturers.
What and who is Synchrony Bank?
The FDIC insures Synchrony Bank, which is headquartered in Salt Lake City, Utah. Many well-known firms throughout the country, including Amazon, Walmart, and eBay use Synchrony’s consumer banking services, which have been in business for more than 85 years.
In addition to retail credit cards, CareCredit, and promotional financing for significant consumer purchases, Synchrony has over 80 million active accounts. An FDIC-insured savings account with a greater annual percentage interest than a regular savings account is also available through Synchrony in addition to its lending offerings.
It’s possible that you already carry a Synchrony Bank card. Why? With over 120 credit cards and store-branded cards, Synchrony is the largest private label credit card issuer in the United States. In most cases, the credit card you’re using is a Synchrony Bank product if you frequent a certain retail chain store.
Businesses from a wide range of sectors and marketplaces use Synchrony’s services, including:
- Auto parts and services
- Electronics and appliances
- Health care and optical
- Heating and air conditioning
- Home furnishings
- Home improvement
- Lawn and garden
- Sporting goods
Store Credit Cards and Traditional Credit Cards are Both Available from Synchrony
Customers all throughout the country may use Synchrony credit cards and retail credit cards since the company has worked with more than 100 different businesses. These “private label credit cards,” sometimes known as “store credit cards,” can only be used at certain businesses.
With a retail card, you will be able to make purchases at that specific retailer. A retail card often has a rewards program, or other bonuses that are associated with using it. Additionally, many retail credit cards will allow you to apply online to see if you prequalify, without impacting your credit report.
Despite the fact that Synchrony Bank is providing the consumer with a Synchrony credit card, the store’s name appears on the back of the credit card. The Synchrony branding is secondary to the retailer’s branding on the card.
“Dual Card” is Synchrony’s trademarked “Dual Card,” a credit card that serves as both a store card and a general-purpose credit card. Customers may use their Dual Cards at any merchant that accepts Visa or Mastercard, unlike store cards, which can only be used at the retailers to whom they are linked.
A Synchrony card usually features more relaxed approval criteria than Dual Cards, although the annual percentage rates (APRs) and the credit limit on shop cards tend to be higher. A number of shop cards come with promotional finance offers; however, they will differ from one retailer to the next.
Some stores will provide you with bonuses when making specific purchases, such as gas station purchases, dining purchases, or when buying auto parts.
As opposed to shop cards, Synchrony Dual Cards have higher credit score requirements, but they also frequently provide better terms and incentives than store cards.
With most cards, you may earn between 1 and 5 points per dollar spent, which is comparable to other reward credit cards. For new cardholders, many Synchrony Dual Cards also include an incentive for signing up. Some retail credit cards will have other conditions, such as having a minimum interest charge, or having an annual fee.
As with any credit card, retail credit cards will require you to make at least the minimum monthly payments required in order to not have a negative impact on your credit report and to avoid paying interest that is higher than it would otherwise be.
Synchrony Bank’s Greatest Credit Cards
The following are the best Synchrony credit cards:
Amazon Prime Store Card
In addition to 5% back on Amazon.com purchases, the Amazon Prime Store Card comes with a number of unique financing options and no annual fee.
You have the option of making equal monthly payments of 0% APR over the course of 6, 12, or 24 months to pay for your purchase. It’s also possible to pay no interest on a purchase if it is paid in full within six, twelve, or twenty-four months.
The length of the promotional period and the number of equal payments you can make will depend on the price of your purchase.
It is important to remember that Amazon’s special financing offer delays accrual of interest until after the promotional time has ended, so you will be liable for interest accrued from the date of purchase.
Due to the high annual percentage rate (APR), it’s critical to pay off your credit card bills in full each month.
To get the most out of this card, you need to be a regular online shopper who prefers Amazon and pays your debt in full each month. Aside from the special financing options, you will not receive the 5 percent back at Amazon.com if you do not subscribe to Prime.
Sam’s Club Mastercard
As a precondition to being eligible for the Sam’s Club Mastercard, you must be a Sam’s Club select club member or select plus member, which costs $45 per year. As a new cardholder, you’ll earn a $45 bill credit on your first online purchase of $45 after opening an account.
You may receive 5 percent cash back on the first $6,000 in petrol purchases, then 1 percent after that, with Sam’s Club Mastercard. A further 3% of their meals and travel expenses will be reimbursed in the form of cash.
You’ll earn 1 percent on every subsequent purchase you make after that. Every year, you may earn a maximum of $5,000 in cash back on all transactions. This card also has no annual charge and no international transaction fees.
While Sam’s Club Mastercard offers a competitive 5% cash back on qualified petrol purchases, spending in this area is limited to $6,000 per year with the Sam’s Club Mastercard. As a result, the benefits of other cards may outweigh the costs, depending on your yearly petrol usage.
Lowe’s Advantage Card
Use of the Lowe’s credit card may be advantageous if you often shop at Lowe’s. If you pay using your Lowe’s account, you can save 5% off your qualified purchase or order and get special financing for six months on orders of $299 or more.
Up to 84 months of set monthly payments with lower APR financing are available for projects that cost more than $2,000, as long as the balance is paid in full.
While some credit cards may provide 5% cash back at places like Lowe’s, the benefits are often based on a rotating set of categories. In contrast, with the Lowe’s Advantage Card, you get a 5% discount every day.
Rakuten Cash Back Visa Credit Card (Formerly Ebates)
In terms of earning rewards, the Rakuten Cash Back Visa Credit Card has a lot to offer. Customers using Rakuten may receive cash back, promotions, and shopping incentives on a wide range of online goods and services even if they don’t have a credit card.
When it comes to cash back, you can get 6%, 10%, or even 40% depending on the retailer and the product category you’re purchasing from.
Purchases at Rakuten qualify for a 3 percent rebate, while all other purchases receive a 1 percent rebate with the Rakuten Cash Back Visa Credit Card. All of your purchases are eligible for cash back, and there’s zero yearly fees to get you started.
To maximize your chances of earning reward points, you should buy at Rakuten rather than any other retailer. Earning rewards is easy when you add the credit card’s 3% cash back.
Synchrony also offers multi-store category cards
Synchrony offers a variety of retail-specific credit cards, but it also offers category-specific credit cards that allow you to use your card in more places.
More than 210,000 stores around the country accept CareCredit, a Synchrony credit card. You can use it to pay for non-covered expenses in the areas of health, beauty, and well-being. It’s possible to use the CareCredit healthcare credit card to pay for everything from dental work to cosmetic procedures to LASIK surgery to eyeglasses for your pet.
The card provides special financing options for purchases of $200 or more, although the usual APR is a lot higher than that.
Every car-related expenditure may be covered by the Synchrony Car Care credit card. Routine maintenance like gas from most gas stations and vehicle washes as well as major expenses like tires, brakes, gearboxes and more are all possible with this card. ‘
The Car Care credit card does not have an annual fee, and interest-free special financing is available for purchases of $199 or more. In addition, because the purchase APR is significant, you should avoid using your card to make a transaction with a debt.
This can help you to save big, particularly if you make a lot of purchases at gas stations regularly.
Dick’s Sporting Goods owns Golf Galaxy and Field & Stream, therefore using a ScoreRewards store card or Dual Card at any of these three locations will earn you points. ScoreRewards Mastercard cardholders get one point for every three dollars spent everywhere Mastercard is accepted, and cardmembers can earn 2X points on eligible in-store transactions.
On top of that, purchases of $399 or more can be financed for a year using both the store card and Dual Card.
Home furnishings, dcor, appliances, flooring, and mattresses are just some of the items that cardholders may purchase with the Synchrony HOME Credit Card.
2 percent cash back on purchases under $299 and six months promotional financing for purchases over $299 are available with this card. The Synchrony HOME Credit Card offers no annual fee, but the APR on purchases is high.
Portfolio of Cards Offered by Synchrony Bank
Synchrony Bank credit cards
- MasterCard from American Eagle Outfitters
- Athleta Mastercard and Visa at Home
- Banana Republic is a well-known clothing retailer. Vouchers from Wal-Mart Mastercard
- BP a credit card issued by Visa
- Cathode ray Texaco Techron Advantage Chevron and Texaco Techron Advantage
- Visa Signature Extras for eBay with a Visa Card Mastercard
- Mastercard for use on eBay
- GAP Nissan Visa Card Infiniti Credit Card Old Navy Visa Card Credit card issued by OneTravel Visa
- Extras offered through PayPal Mastercard
- PayPal Rewards Mastercard
- Rakuten’s Cash Back credit card issued by Visa (formerly Ebates)
- The Sam’s Club Mastercard is a credit card issued by Sam’s Club Mastercard for Sam’s Club Business
- ScoreRewards Golf Galaxy, Dick’s Sporting Goods, and Field & Stream all accept Mastercard as payment.
- TJX Rewards Platinum Mastercard Stein Mart Mastercard (T.J. Maxx, Sierra, Marshalls, HomeGoods, Homesense)
- Mastercard from Walmart
Synchrony Bank store cards
- ABC Warehouse
- American Eagle Outfitters
- American Signature Furniture
- Art Van Furniture
- Ashley Furniture HomeStore
- At Home
- Banana Republic
- Big Sandy Superstore
- Blain’s Farm & Fleet
- BrandsMart USA
- Briggs & Stratton
- Carpet One
- Chevron and Texaco Techron Advantage Credit Card
- CITGO Rewards Card
- City Furniture
- Discount Tire
- DX Engineering
- Drive Savvy Rewards Credit Card
- Electronic Express
- Ethan Allen
- Flooring America
- Freedom To Ride
- Grossman’s Bargain Outlet
- Guitar Center
- Hudson’s Furniture
- Hyde Park Jewelers
- Jewelry Exchange
- Kraft Music
- Levin Furniture
- Lumber Liquidators
- Mavis Discount Tire
- Mattress Firm
- McCoy’s Building Supply
- Men’s Wearhouse
- Metro Mattress
- Morris Home
- Musician’s Friend
- Napa AutoCare Center
- Old Navy
- P.C. Richard & Son
- Pearle Vision
- Pep Boys
- QVC QCard
- Regency Furniture
- Rooms To Go
- Sam Ash Music Direct
- Sam’s Club
- ScoreRewards Credit Card (Golf Galaxy, Dick’s Sporting Goods, Field & Stream)
- Sewing & More
- Sheely’s Furniture
- Sleep Experts
- Sleep Number
- Stein Mart
- Summit Racing Equipment
- Sunglass Hut
- Synchrony Car Care
- Synchrony Home
- System Pavers
- Tire Discounters
- Tire Pros
- TJX Rewards Credit Card (TJ Maxx, Sierra, Marshalls, HomeGoods, Homesense)
- US Appliance
- Value City Furniture
- Vintage King
- Walmart Credit Card
- Westrich Furniture
- Woodwind & Brasswind
Obtaining a Synchrony Bank Credit Card
If you apply for a Synchrony Bank credit card, your credit score will play a role in whether or not you are approved. Synchrony’s shop cards often have a lower credit score requirement than its Dual Cards, however this is not always the case.
That being said, it’s ideal to keep your credit score as high as possible so that you can get the greatest deals at the stores you shop at.
Building Credit with Synchrony Bank cards
As with any other credit card issuers, Synchrony Bank and their retail partners want you to both utilize the credit card, and to make your minimum monthly payments on time.
Doing these key things will have various effects. Your credit limits will likely see an increase over time, and your credit report will start to improve. A Synchrony Bank credit card account in positive standing can be a great way to establish credit, or even to rebuild credit over time.
Utilizing one of Synchrony’s credit cards or one of the many Synchrony store cards available in a responsbile way can be a smart personal finance decision. A strong credit report can even help you to increase your credit limit with another financial institution, or to open a new credit line with a different credit card issuer.
When compared to other credit cards or a Synchrony credit card, Synchrony store credit cards aren’t likely to provide you the finest conditions and perks, but they can still be useful.
If you’re wanting to establish your credit history or to rebuild credit up from weaker credit scores, a store card can be a smart choice because they often have lower credit score criteria. Passing a credit check for one of these retail credit cards is often easier than passing a credit check for a more traditional credit card.
However, because of the high interest rates, it’s critical that you make on-time, complete payments on all of your credit card bills.
Many Synchrony credit cards provide promotional financing offers, which allows you to pay off the charge over time without accruing interest. The deferred interest will kick in if you don’t pay off the debt in the promotional time; this might cost you a lot. Be careful.
Consider the Blue Cash Everyday® Card from American Express and Citi Double Cash if you’re looking for a credit card that provides flexible rewards and a promotional APR.
Amex Blue Cash Everyday offers 3% cash back at US supermarkets up to $6,000 a year, 2% cash back at US petrol stations and select US department shops, and 1% cash back on all other purchases with the Amex Blue Cash Everyday credit card from the American Express company. A credit to your credit card account is how you receive your cash back.
The introductory APR for new purchases is 0% for the first 15 months, after which it ranges from 13.99 percent to 23.99 percent (variable).