Synchrony Premier Mastercard | Synchrony Bank (2024)

FAQs

What bank is Synchrony Bank? ›

*Note: On June 2, 2014, GE Capital Retail Bank changed its name to Synchrony Bank and is part of the GE Capital Retail Finance business.

750+ credit score needed

You need excellent credit to get the Synchrony Premier.

Yes, it is hard to get the Synchrony Premier World Mastercard® because it requires excellent credit for approval. Unless your credit score is 750 and you have a lot of income, it will be difficult for you to get approved for the Synchrony Premier Card.

Yes. Synchrony Bank is a member of the FDIC, so your deposit accounts with us are insured up to $250,000 per ownership category. If you want, learn more about FDIC insurance limits.

31, 2023, Synchrony Bank had $106.6 billion in assets. More about Synchrony: Synchrony Bank is owned by Synchrony Financial, a Stamford, Connecticut-based consumer financial services company.

Synchrony Bank Basics. Founded in 1932 as GE Capital Retail Finance, Synchrony Bank is a division of Synchrony Financial, the largest provider of private-label credit cards in the U.S. Here's a look at its personal banking products.

Synchrony Bank recently allowed class-action lawsuits by consumers to progress after accepting to take responsibility for long-standing complaints raised against them. Synchrony Bank's class-action lawsuit allows consumers to be paid what they are owed for the suffering and damages they incurred as their customers.

with the Synchrony Premier Mastercard®

The Synchrony Premier Mastercard earns you 2% cash back on every single purchase.

While credit scores are very important, Synchrony Bank credit card approval depends on several other factors as well. For example, applicants need to have enough income to make payments on the card. Synchrony Bank will also look at existing debts when considering your application.

What is the minimum credit score for Synchrony Bank? ›

Generally, a credit score of at least 600 is required to be considered for a Synchrony credit card or store card. However, certain cards may require a higher credit score, typically around 660 or higher.

Synchrony Bank also occasionally offers automatic credit limit increases to select accountholders. While there is no way to guarantee you'll be offered one, keeping your income information updated and your account in good standing will definitely help. Here's how to get a Synchrony Bank credit limit...

What Are the Disadvantages of Synchrony Bank? Synchrony Bank has no physical locations for in-person banking. The online bank has no checking account. Synchrony customers can manage their accounts and get support 24/7 through its mobile app and automated phone service, but it offers limited live customer support.

Both banks have a $0 minimum deposit and no monthly service fee, which maximizes earnings. But if you're looking for the best rate, Synchrony is the winner. Capital One allows customers to open multiple savings buckets to save for separate goals.

Enjoy the extraordinary reward of earning 2% cash back on every purchase*. Your cash back is unlimited and gets credited to your statement every month, automatically. Enjoy Mastercard World Benefits like ID theft protection, Mastercard Travel and Lifestyle Services, Priceless® Experiences, and more.

*Note: On June 2, 2014, GE Capital Retail Bank changed its name to Synchrony Bank and is part of the Synchrony Financial business (formerly GE Capital Retail Finance). The name change is in process.

Brian Doubles is President and Chief Executive Officer and a member of the Board of Directors of Synchrony, one of the nation's premier consumer financial services companies. Brian was named CEO in 2021, after serving as President for two years and as Executive Vice President and Chief Financial Officer for 10 years.

Synchrony is the largest provider of private-label credit cards in the U.S. Brands partnered with Synchrony include Amazon, Lowe's, Guitar Center, Cathay Pacific, Rakuten, Verizon, Sleep Number, Walgreens, and Sam's Club.