Synchrony Bank Rating: A Comprehensive Review of Credit Cards and Banking Services

Synchrony Bank is a well-established financial institution that offers a wide range of credit cards and banking services. They have over 70 million active accounts, which is a testament to their popularity and trustworthiness.

Synchrony Bank has a strong online presence, with a user-friendly website and mobile app that allows customers to manage their accounts and make transactions easily. Their website is also available in multiple languages, making it accessible to a diverse customer base.

Synchrony Bank offers a variety of credit cards that cater to different needs and preferences. Their credit cards have competitive interest rates, low fees, and rewards programs that can help customers save money and earn rewards.

Synchrony Bank offers a wide range of credit cards, including Synchrony-branded credit cards and co-branded credit cards with popular retailers.

The Synchrony Premier World Mastercard offers 2% cash back on every purchase, making it one of the best flat-rate rewards cards on the market. However, you'll need excellent credit to qualify.

Synchrony-branded credit cards can be used anywhere Mastercard is accepted, including the Synchrony Premier World Mastercard, Synchrony Plus World Mastercard, and Synchrony Preferred World Mastercard.

The Synchrony Premier World Mastercard is the standout card among Synchrony's offerings, with a 2% cash back rate on all purchases. However, there are no upfront incentives like a sign-up bonus or 0% intro APR offer.

Synchrony also offers co-branded credit cards with popular retailers, such as Amazon, American Eagle, and Walmart. These cards can be used at specific retailers and offer special financing terms like deferred interest.

Here are some of the top Synchrony co-branded credit cards:

Synchrony credit cards can be a good choice if you frequently shop at specific retailers or want to build credit. However, be aware of the potential drawbacks, such as high APRs and limited rewards redemption.

Synchrony has a wide range of credit cards to choose from, with over 120 options available. This means you can find a card that suits your shopping habits and financial needs.

Some Synchrony credit cards are store credit cards, which can be easier to get than general-purpose cards and can help you build credit. However, they often come with high APRs and limited rewards redemption.

Before applying for a Synchrony credit card, consider the potential drawbacks, such as high APRs and limited rewards redemption. A store credit card that's only usable at a few merchants might be too restrictive for some consumers.

Here are some top picks from Synchrony's lineup of credit cards:

A credit card can be a great tool for managing your finances, but it's essential to consider whether it's right for you. Synchrony credit cards, for example, can be useful for frequent shoppers at specific stores, helping you build credit with easier-to-get store credit cards.

However, be aware that these cards often come with high APRs and limited rewards redemption. In fact, some store credit cards can be too restrictive, limiting you to using them at only a handful of merchants.

If you're looking for a more versatile option, consider a general rewards credit card. Synchrony offers some solid choices, depending on your spending habits. For instance, the Sam's Club Mastercard offers 5% cash back on gas, 3% on dining out and travel, and 1% on everything else.

You can also consider co-branded cards with popular retail partners, like the Amazon Store Card, which offers 5% cash back on all Amazon orders for Prime members. Or, if you're a frequent Walmart shopper, the Walmart Credit Card gives you 3% cash back on all Walmart.com purchases.

Before applying for a credit card, weigh the benefits against potential drawbacks. Consider whether the rewards and benefits align with your spending habits and financial goals. If you're unsure, you can always start by exploring different options and reading reviews to make an informed decision.

Here are some top picks from Synchrony Bank Credit Cards to consider:

Synchrony Bank is a financial institution that offers a range of credit card options through its partnerships with hundreds of retailers and healthcare providers.

Their high-yield savings and money market accounts have no monthly fees or service charges, except for a $25 fee for sending a wire transfer. This fee is waived for Diamond Status members.

One of the benefits of banking with Synchrony is the flexibility of opening an account with as little as $0. This makes it easy to get started with their high-yield savings, money market, or CD accounts.

Their high-yield savings account earns a 4.10% annual percentage yield (APY), while their money market account earns 2.25% APY. CD rates vary by term and go up to 4.25% APY.

Here's a quick rundown of Synchrony's fee structure:

To manage your Synchrony credit card, you can access your account online through the Synchrony website or the mobile banking app. The app allows you to view your account balance, payment history, and transaction records.

You'll need to provide basic personal information to open a Synchrony account, including your name, address, Social Security number, date of birth, and government photo ID. This information is required for security and identity verification purposes.

Synchrony offers free access to ATMs worldwide, as long as they have a Plus or Accel logo. You won't be charged any ATM fees, and Synchrony will reimburse you for fees charged by third-party ATMs, up to $5 per month for regular customers or unlimited with Diamond Status.

To deposit money into your Synchrony account, you have several options, including electronic transfers from a Synchrony account or external account, mobile check deposit, direct deposits, wire transfer, and mailing in a personal or cashier's check.

If you're considering Synchrony Bank for your financial needs, it's essential to know who it's best for. Synchrony Bank is perfect for consumers who don't want to change their primary checking account.

Synchrony Bank offers high-yield deposit accounts, which can be a great option for those looking to earn more interest on their savings. This is especially beneficial for individuals who don't need access to physical branches.

Synchrony Bank is also ideal for those interested in the benefits of having a retailer credit card. This can be a great option for frequent shoppers who want to earn rewards and discounts.

If you're looking to finance healthcare expenses over time, Synchrony Bank may be a good choice. This can be a more manageable option for individuals with large medical bills.

Ultimately, Synchrony Bank is a great option for consumers who value convenience and flexibility.

Synchrony Bank offers a range of banking products that cater to different needs. Synchrony's high-yield savings account earns a competitive 4.75% APY with no minimum deposit requirements and no monthly fees.

You can withdraw cash and make purchases with an optional ATM card, which is a major perk. This is a departure from most high-yield savings accounts, which require you to transfer funds to another account before withdrawing cash.

Synchrony's CD rates are competitive, with terms ranging from 3 months to 60 months. The 6-month CD, for instance, earns 4.80% APY, while the 9-month CD earns 5.15% APY.

Here are some of Synchrony's CD rates as of publishing:

Synchrony Bank offers a range of products to help you save, invest, and manage your finances. Their high-yield savings account earns a competitive 4.75% APY with no minimum deposit requirements and no monthly fees.

You can access your money with an optional ATM card, which is a major perk compared to other high-yield savings accounts. With most high-yield savings accounts, you need to transfer the funds to another account before withdrawing cash, but Synchrony's ATM card lets you withdraw cash and make purchases when needed.

Synchrony's Money Market Account earns a lower APY of 2.25%, but it comes with check-writing capabilities and an ATM card for transactions and cash withdrawals. There are no minimum deposit or monthly fees, making it a more flexible option.

Synchrony's CD rates are competitive, with terms ranging from 3 months to 60 months. The APYs vary depending on the term, with some CDs offering higher-than-average yields. For example, the 6-month CD earns 4.80% APY, while the 9-month CD earns 5.15% APY.

Here's a breakdown of Synchrony's CD rates:

Synchrony also offers IRA money market accounts with a 2.25% APY and no minimum balance requirements. You can add additional money at any time, up to IRS limits.

Free Business Checking with 1.5% APY offers a competitive interest rate of up to 1.5% APY on your balance up to $250,000 for customers that meet monthly eligibility requirements.

You can open a Free Business Checking account with a $0 minimum opening deposit, which is a great perk for new businesses.

There's no monthly service fee, which means you can save even more money on banking costs.

To qualify for the 1.5% APY, you'll need to meet the monthly eligibility requirements, but this is a great incentive for businesses that can meet the criteria.

Here's a quick rundown of the key benefits:

With Synchrony Bank, you can access your account online or through mobile at any time of day or night. This convenience saves you from mailing in checks or adding extra steps to deposit funds.

The online experience is also where you can explore your savings choices and get a foundational understanding of your options through Synchrony's educational content. The frequently asked questions (FAQ) section is pretty extensive and will address many of your questions.

You can also compare interest rates and products across the site, but be aware that Synchrony's comparison may not be the full picture as not all banks are included.

You can access your online banking account at any time, just log in to get started.

Synchrony operates mostly online, with limited in-person support.

If you need to visit a branch in person, Synchrony has one location in Bridgewater, New Jersey.

You can reach Synchrony representatives by phone Monday through Friday from 8 a.m. to 10 p.m. and Saturday from 8 a.m. to 5 p.m. Eastern Time.

Automated telephone service is available 24 hours a day, seven days a week.

You can do a lot online with Synchrony, and it's actually pretty convenient. You can access, monitor, and execute transactions online at any time of the day.

The mobile site is also available, which offers the convenience of mobile check deposits, saving you from mailing in checks or adding extra steps to deposit and transfer funds.

Synchrony's educational content is a great resource to explore your savings choices and get a foundational understanding. The frequently asked questions (FAQ) section is pretty extensive and will address many of the questions you may have.

You can also compare interest rates and products across the site, but be aware that Synchrony's comparison may not be the full picture.

Here are some key online features:

You can complete the process of opening an account from start to finish online, all you need is the necessary information to get going.

You can start the account opening process from the comfort of your home by registering for a customer login ID.

To get started, you'll need your Social Security number as well as a driver's license, state identification number or military ID.

You'll need to provide your physical address, occupation and employer, and the source of funds you're planning on using to open the account.

If you're planning on transferring funds from a current bank account at a different bank, you'll need the routing and account number.

The quickest process is generally online, but you also have the option to call and apply over the phone or request a paper application be sent to you.

If you'd like to print an application yourself, you can find the PDF form and print and mail it in yourself.