The little known fact that there are 120 Synchrony Credit Cards, will surely startle many because these private level credit cards issued by Synchrony Bank may not be as fiercely advertised and marketed as mainstream credit card companies like American Express or Citi do.
So we thought to highlight the 5 best synchrony credit cards for you that offer some interesting cash-back opportunities on purchase on online stores, airlines and travel-related expenses.
Please note that we are affiliates for Synchrony or anyone to write this post.
What is Synchrony?
Synchrony Bank is a colossal financial services company dealing with various types of loans. It is the largest provider of private-label credit cards in the United States, yet you rarely come across it. Synchrony Bank credit cards don’t enjoy the same brand value as American Express or JCM, but it offers some of the best discounts and reward programs.
- Some advantages associated with Synchrony Credit Cards are :
- Synchrony store credit cards are often easier to obtain than some other cards.
- It does not allow users to open store cards without a hard pull on their credit reports.
- One of the best rewards cards for eCommerce and travel purpose cards
Let’s take a look at the many cards offered by Synchrony and discuss some of the best and most popular cards they provide.
Is Synchrony Credit Card Good For Building Credit Score?
A credit score represents your creditworthiness. The higher your credit score, the more comfortable banks are when lending you money. It ranges between 300 and 850. Anything about 750 is exemplary.
With a high credit score, you’re eligible for cheaper loans. In essence, you’re saving hundreds of thousands in mortgage and car payments.
By having low debt and making payments on time, among other things, you can steadily improve your credit score. Some credit cards are better than others as far as tools to improve credit score is concered.
Your credit score goes down by a small amount every time you get a new card or take on new debt. Your score falls because you’re now a riskier person. Synchrony Credit Card ensures that the initial impact on your credit score is minimal whenever you get a credit card from them.
If you can get your hands on a Synchrony Bank Credit Card, take the opportunity. Spend carefully, pay your bill on time, and watch your score rise over the next few months.
Top 5 Synchrony Bank Credit Cards
As we previously stated, Synchrony Bank has over 120 partner cards, but not all of them are suitable for you.
We went through the most popular cards offered by Synchrony and shortlisted them based on what interests the general population. Some people would benefit more from a Walgreens Card. Others might like online shopping cash-back or bonus travel points. Here is our 5 top Synchrony Credit Cards
#1 Amazon Synchrony Prime Store Card
If you’re already an Amazon Prime member and a frequent Amazon shopper, you could consider getting Amazon Synchrony Prime Store Card.
This card offers a flat 5% cash-back on any amount you spend on Amazon. That’s like buying 5% extra stuff every year.
The card doesn’t have an annual fee, so you have nothing to lose if you get one. But, only consider getting one if you already frequently shop on Amazon and have a prime membership. The card can be risky, given its 28% interest rate. Exercise caution before overspending.
Regardless, Amazon Synchrony is one of the best options right now and the 5% cash-back is a game changer for some people.
Q. Does Amazon own Synchrony Bank?
A. No. Amazon does not own Synchrony Bank. They have a partnership that allows Synchrony to offer Amazon Prime Store Cards.
#2 Cathay Pacific Visa Card for Travel
This card is a traveller’s best friend.
If you fly often and find yourself in new places frequently, you have to get a Cathay Pacific Visa! It doesn’t matter whether it is for business or fun.
This card offers:
- 2x Miles per Dollar on flight tickets,
- 1.5x Miles per Dollar on dining and international purchase, and
- 1x Miles per Dollar on domestic purchase.
- No extra charges on international transactions.
You’ll constantly rack up those frequent flier miles, but you’ll have to pay an annual fee of $95.
Other cards offer similar benefits too. American Express and Chase have been famous for their exclusive lounges, hotels, and dining benefits. If that interests you more, get one of those too.
It is prudent to use Multiple Cards and divide your expenses between them. It makes you look less credit-hungry and builds your credit score faster.
#3 OneTravel Credit Card
Another good option for frequent travellers is the OneTravel Credit Card. You’re eligible to earn 7 points for every dollar spent and redeem those points on flights, hotels and cars.
The biggest perk of this card is that there’s no annual fee, and you get a $50 credit when you spend your first $5000.
The point breakdown goes like this:
- 6 points for every dollar spent on their website,
- 4 points for every dollar spent on dining,
- 2 points for every dollar spent elsewhere.
If you frequent staying in hotels and long drives, this is one of the better domestic options!
#4 Sam’s Club Mastercard
If you are not driving a Tesla and want to lower your gas bill, you could get Sam’s Club MasterCard and get 5% cash-back on purchases at gas stations, in addition to a 3% cash-back on restaurants. This option is especially lucrative, given the recent gas price hike. Also, it is pertinent to mention that there is no annual fee.
There is a $5000 cash-back limit per year, but you’re most likely not going to hit that.
Use Sam’s Club MasterCard in all stores where MasterCard is accepted. Do not confuse it with Sam’s Club store card version that is restricted to only Sam’s Clubs and Walmarts.
Q. What happened to Walmart-Synchrony Credit Card?
A. It got discontinued. Walmart ended its relations with Synchrony in 2019, after which Synchrony got Amazon onboard. The existing users of the card got transferred to CapitalOne.
#5 Verizon Visa Card
If you are already using Verizon products or services loyally, this is a no brainer – no annual fees option for you. You can earn Verizon Dollars as a reward for using your credit cards.
There are also some classic perks like bill discounts on auto-pay that quickly adds up. Every time you spend money, it’s like you’re saving for your next Verizon device. If you want to keep up with the tech and upgrade your phones regularly, this is a good option for you.
- 4% Cash-back on gas and grocery
- 3% on dining and take out
- 2% on Verizon purchase
- 1% on all other purchases
Use the rewards for paying wireless or home internet bills or purchasing devices You can also earn rewards monthly, weekly and even daily . Read the Verizon Visa Card FAQ
Synchrony Credit Card doesn’t offer something unique, but they have a few great partnerships. For example, the Amazon Prime Store Card is a match made in heaven for someone who shops online constantly.
Their cards are too niché and highly targeted to specific groups of people. For example, they have cards for Banana Republic Stores .If you’re one of those, it’s a decent card to have. If not, there are better options available in the market.
What is your preferred synchrony credit card ?