Is Synchrony a Good Credit Card for You?

Synchrony credit cards offer a range of benefits, including rewards programs and purchase protection.

With over 70 million active credit card accounts, Synchrony is one of the largest credit card issuers in the US. Their credit cards are accepted at over 350,000 locations.

Synchrony credit cards have no foreign transaction fees, making them a good option for international travel. They also offer a 25-day grace period for payments.

If you're looking for a credit card with a rewards program, Synchrony offers several options, including the Synchrony Bank Credit Card and the Synchrony Car Care Credit Card.

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Synchrony credit cards offer impressive in-store and online discounts, making them a great choice for those who shop frequently at partner stores.

Synchrony's promotional interest periods on select purchases can save you money on interest charges, which is a huge benefit for anyone who carries a balance.

No annual fee on several of their cards is a major perk, as you won't have to worry about paying extra just for the privilege of using the card.

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Synchrony store cards, especially closed-loop store cards, have improved application odds compared to other traditional credit cards.

Retail credit cards like Synchrony's tend to have lower credit score requirements, making them a good option for those with average or near-prime credit scores.

These cards often come with lower credit limits than higher-profile cards, which can actually increase your chances of getting approved.

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Synchrony Bank is a consumer financial services company that offers a wide range of credit products, including credit cards, loans, and other financing solutions.

The bank is well known for partnering with various retail stores, manufacturers, and service providers to offer co-branded and private-label store and retail credit cards from Amazon, American Eagle, and more.

Synchrony works with dozens, if not hundreds, of private companies through its credit card division to help them issue their own branded cards.

Store credit cards, including those from Synchrony Bank, can offer meaningful rewards and benefits, but they also come with plenty of risks.

Store cards typically carry higher APRs than other cards, which means if you carry a balance on any of these cards, you could get hit with heavy interest charges that outweigh the benefit of your rewards.

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Synchrony credit cards offer a range of features and benefits that make them a great option for many consumers.

Rewards programs are a key feature of many Synchrony credit cards, allowing cardholders to earn points, cash back, or miles for every eligible purchase. These rewards can be redeemed for various items, including merchandise, gift cards, travel, or statement credits.

Synchrony credit cards also frequently offer special financing options, such as zero-interest promotions for a certain period of time. This can be particularly useful for large purchases, as it allows customers to pay off their balance without incurring interest during the promotional period.

Cardholders can manage their accounts online, view statements, pay bills, and monitor their transactions through Synchrony Bank's online portal. The bank also offers a handy mobile app, with some rewards programs featuring their own apps.

Synchrony Bank implements security measures to protect cardholders against unauthorized transactions and fraud, including real-time fraud alerts, zero-liability policies, and the ability to freeze or block the card in case of suspicious activity.

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Synchrony Bank credit cards have some notable drawbacks.

Limited usability is one of the main cons, as many cards are only valid at specific retailers or within a certain network. This can be a problem if you prefer a more versatile card that can be used anywhere.

High interest rates are another issue. Regular interest rates on Synchrony credit cards can be relatively high, which means you may incur significant interest charges if you carry a balance beyond the promotional period.

Store and retail credit cards often have higher APRs, with rates frequently north of 30% for those with average credit. This can cause significant hardship if you continuously carry a balance.

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Synchrony credit cards offer a range of common features that make them a popular choice for many consumers. These features typically include rewards programs that allow cardholders to earn points, cash back, or miles for every eligible purchase.

Many Synchrony credit cards offer special financing options, such as zero-interest promotions for a certain period of time. This can be particularly useful for large purchases, allowing customers to pay off their balance without incurring interest during the promotional period.

Online account management is also a key feature of Synchrony credit cards. Cardholders can manage their accounts, view statements, pay bills, and monitor their transactions through the bank's online portal. This portal also enables users to set up account alerts and notifications.

Synchrony Bank provides a mobile app that allows users to access their accounts on the go. Some rewards programs even have their own apps, making it easy to track and redeem rewards.

Fraud protection is also a critical feature of Synchrony credit cards. The bank implements security measures to protect cardholders against unauthorized transactions and fraud, including real-time fraud alerts and zero-liability policies.

Here are some of the common features you can expect from a Synchrony credit card:

Synchrony Financial offers various channels for customer support, including online options.

You can start with a live chatbot, which can help resolve some issues on its own. If not, issues can be routed to a human representative.

Secure emails are addressed within 24 hours, providing a reliable way to communicate with the company.

Phone support is available from 8:00 a.m. to 12 midnight Eastern Time, making it convenient for customers to reach out.

If the lines are full, you have the option for a callback service, which can be a lifesaver during busy periods.

Synchrony has strong measures in place to protect sensitive data, using encryption and secure servers. This is a significant advantage for users who value their financial security.

Their commitment to safeguarding users' privacy and security is evident in their detailed privacy policy and disclaimers, which highlight their attention to detail and pledge to keep personal information safe.

As a U.S.-based company, Synchrony is subject to federal laws and regulations pertaining to financial institutions, which provides an additional layer of protection for users.

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Synchrony is a U.S.-based company that is subject to federal laws and regulations pertaining to financial institutions.

Their strong measures to protect sensitive data include using encryption and secure servers, which is a big deal for a company in the financial services industry.

Synchrony's privacy policy and disclaimers highlight their attention to detail and pledge to keep personal information safe.

They provide detailed information on how they share or refrain from sharing client data with third parties, which is a great transparency move.

As a company that handles sensitive information, Synchrony has a significant responsibility to protect its users' privacy and security.

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Synchrony Financial, a company known for its attractive products, has a concerning pattern of fraudulent activity. Some customers report being overcharged interest in their credit card accounts, often when they're close to paying off their balance.

This usually happens when customers have only one payment left to make, and they find additional interest charges for the entire amount or much more than what's owed. It's unsettling to think about being charged extra fees when you're almost done paying off your debt.

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Inaccurate bank and credit card statements have also been a problem for some customers. They receive statements showing they owe more money than they actually do, which can lead to accusations of missed payments.

A customer even received a call about a missed payment, only to prove that they had made the payment on time. The company acknowledged the payment, but the ending balance on the letter didn't reflect the deduction.

Accounts have been cancelled without permission or prior notice, especially when there's been a period of inactivity. These accounts weren't delinquent, and the inactivity period was relatively short.

Synchrony has a vast network of brands and partnerships that offer co-branded retail credit cards. They work with over 100 well-known retailers to create unique credit cards that cater to specific shopping needs.

You can find Synchrony-branded credit cards with retailers like Walgreens, Sam's Club, and Amazon. They even offer a secured credit card with Amazon. Other notable partners include BP, eBay, and Verizon.

Some examples of co-branded cards include the Amazon Store Card, American Eagle credit card, and Belk credit card. These cards can be used at specific retailers and often come with special financing terms like deferred interest.

Here are some examples of Synchrony co-branded cards:

These cards can be a great option for those who frequently shop at specific retailers, as they often come with rewards and special financing terms.

Synchrony has a wide range of store credit cards that can be useful if you shop frequently at specific stores.

Before applying for a Synchrony credit card, you need to weigh the benefits against the potential drawbacks, such as high APRs and limited rewards redemption.

Store credit cards from Synchrony can help you build credit because they're usually easier to get than other general-purpose cards.

However, store credit cards can be too restrictive if they can only be used at a handful of merchants.

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Synchrony offers general rewards credit cards that can be a better option if you want more versatility in your spending.

Synchrony cards often come with impressive in-store and online discounts, as well as special promotional interest periods on select purchases.

Some Synchrony cards have no annual fee, which is a significant advantage.

Retail credit cards from Synchrony, especially closed-loop store cards, tend to have lower credit score requirements, making them more accessible to those with average or near-prime credit scores.

These cards also typically have lower credit limits, which can increase your chances of approval.

We evaluated dozens of Synchrony Bank credit cards to find the best options.

Synchrony Bank offers credit cards from many different retailers, making it a bit unclear how each card could benefit the average consumer.

We focused on cards that could offer serious value for major purchases.

Cards that offer rewards or discounts on regular purchases, like groceries or gas, are a great fit for everyday life.

Our goal was to pick cards that stood out from the pack in some way, providing more value than others.

We considered cards that could be useful for both major purchases and regular expenses.

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