Synchrony Bank Credit Cards

 

 

What is Synchrony Bank? 

Synchrony Bank is an online banking institution with its own long list of products, but it’s more widely known as the most prolific private credit card issuer in the United States. Through its credit card division, Synchrony works with dozens, if not hundreds, of private companies to help them issue their own branded cards.  Regardless of which card you get, you can manage your account with your Synchrony Bank login on the issuer’s website.

Types of Synchrony Bank Credit Cards 

By far, Synchrony is most well-known for its retail rewards cards. These often feature special promotional financing and rewards on a wide variety of products. However, this issuer also works with a few small airlines on offers for frequent flyers. You can also find a few gas rewards cards in the mix.  

Among the list of Synchrony credit cards, you’ll find both closed-loop and open-loop cards. Open-loop refers to cards associated with a payment processing network, such as Mastercard or Visa. Access to this network allows cardholders to use these cards just about anywhere. Meanwhile, closed-loop cards have no processing network, and therefore can only be used at the issuing store.  

What Stores Use Synchrony Bank for Their Credit Cards? 

If you’re considering a credit card from your favorite retailer, chances are it’s likely a Synchrony Bank credit card. Alternately, it could be from Commenity Bank, which is this issuer’s main competition for private label cards. The following list outlines just some of Synchrony’s many credit card partners: 

• Old Navy  
• Marvel 
• TJX (TJ Maxx, Marshalls, and HomeGoods) 
• Belk 
• Gap 

Other examples of Synchrony store cards include:

• Amazon Prime Store Card
• Amazon Prime Credit Builder Secured Card
• American Eagle Outfitters (AEO)
• CareCredit
• Pep Boys CarCareOnONE Card
• City Furniture Card
• Conoco Store Card
• Flooring America Card
• Guitar Center Store Card
• JCPenney Card
• La-Z-Boy Card
• LensCrafters Card
• Lumber Liquidators Card
• Mattress Firm Store Card

Some other big names that aren’t exactly retailers include eBay, PayPal, Norwegian Airlines, and Chevron. While this list isn’t exhaustive, it provides a pretty good glimpse into the wide array of rewards you can earn with Synchrony. 

Pros and Cons of a Synchrony Credit Card 

As with any issuer, there are plenty of advantages and disadvantages to applying for a card with Synchrony. Overall, these cards offer a pretty decent spread of rewards, though some are better than others. Below we’ll explore aspects of these cards that present either pros or cons for your wallet.  

What Credit Score Does Synchrony Bank Require? 

Retail cards, including those from Synchrony can require varying levels of credit scores. Most are available for good to fair credit scores. However some, like the Belk Rewards Mastercard® require good to excellent credit. This is because Belk offers both open-loop and closed-loop cards, and reserves the Mastercard for customers with the highest credit scores.  

Stores that do this usually make it easy to upgrade after several months of using the card as well. That makes these cards fairly easy to obtain when compared to other types of rewards cards. While you can’t apply for Synchrony Bank preapproval directly, stores where you shop frequently may send out a preapproval notice if you qualify for a card. 

Earning Store Rewards 

One of the biggest selling points for Synchrony bank store credit cards is their ability to earn major discounts and rewards for frequent shoppers. Since some of these cards are on closed-loops, this is where most of the benefits come from. Open-loop cards may offer more opportunities to earn, but they likely won’t be as substantial. 

Depending on your current spending habits, that can be a pro or a con on its own. If you already shop frequently at your favorite store, you can potentially save some cash with the addition of the card. On the other hand, cards like these can also encourage overspending, which is the fastest way to land yourself in debt. For that reason, it’s important to consider a Synchrony Bank rewards card (or any store credit card) carefully before you apply. 

High APRs and Fees 

The main reason retail rewards cards have a higher potential to lead to debt is their interest rates. Store cards (including those from Synchrony) are notorious for high APRs, often upwards of 17% even on the low end. In fact, depending on your credit score you can see rates near 30% – pretty much the highest APR you can expect from any credit line. On the plus side, Synchrony offers don’t tend to have penalty APRs.  

Find Your Best Card 

Looking for promotional financing and rewards from your favorite retailer? Browse our reviews of Synchrony Bank credit cards to find just the right fit. We’ve reviewed hundreds of cards for every occasion and financial goal to help you piece together the perfect wallet. Want to learn a little more about credit cards before you apply? Check out our dozens of articles and editorials to become a savvy cardholder. Get started now!