Synchrony Premier Mastercard | Synchrony Bank (2024)

FAQs

Is it hard to get a Synchrony Premier Mastercard? ›

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.

750+ credit score needed

You need excellent credit to get the Synchrony Premier. You can check your credit score for free on WalletHub to get a feel for your chances.

It depends on the credit card you are interested in. Most credit cards offered by Synchrony Bank are designed for people with fair (640 – 699), good (700 – 749) or excellent (750 – 850) credit.

Find out your score and how to improve it when you enroll in Synchrony's free credit score program with VantageScore®VantageScore® is a top credit scoring model used by many lenders when they consider whether or not to approve applications and deide what rates and terms to offer. .

You need a 500 FICO score or higher to be eligible for the Premier Bankcard Mastercard. If your score is lower, you might have a higher chance of acceptance with a secured card. You need a 500 FICO score or higher to be eligible for the Premier Bankcard Mastercard.

If you have more than one Synchrony credit card account, you will have the opportunity to include any or all of those accounts in this one-time registration.

The pros of banking with Synchrony include a top-tier high-yield savings account with a competitive interest rate and easy opening requirements, and a variety of CD terms and types. The cons of banking with Synchrony include no physical locations, no checking accounts, and limited services and products beyond banking.

The Synchrony Premier World Mastercard®, which offers 2% cash back on every purchase to individuals with excellent credit (FICO scores of 720 or higher). The Synchrony Plus World Mastercard, which is designed for those with at least good credit (scores of 690 or higher) and earns 1% cash back on every purchase.

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.

Yes, Synchrony Bank does a hard inquiry on your credit report whenever you apply for one of its credit cards. A hard inquiry usually results in a slight decrease in an applicant's credit score, but the effect only lasts for a short period of time.

Is there a class action lawsuit against Synchrony Bank? ›

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.

Synchrony Bank uses all three major credit bureaus (TransUnion, Equifax and Experian) in order to assess your creditworthiness. Either one or more credit bureaus may be used when evaluating a Synchrony credit card application. Credit reports, however, don't differ that much from bureau to bureau.

Flexible Ways to Apply

Click Prequalify to find out if you qualify for credit. There is no impact to your credit bureau score. Get a decision in seconds. If you prequalify, then apply.

We rate Synchrony Bank's high-yield savings accounts 4.5 stars. The bank is a great option for someone seeking a high-yield savings account who doesn't mind banking exclusively online. This savings account also offers an interest rate that's much higher than the national average rate of 0.50% for savings accounts.

Synchrony Bank has its own debt collection department known as Synchrony Financial's in-house collections and billing department. They do not hire outside collection agencies to follow up on their debt.

Chip Lupo, Credit Card Writer

Yes, First Premier Bank does a hard inquiry on your credit report whenever you apply for one of its credit cards. A hard inquiry usually results in a slight decrease in an applicant's credit score, but the effect only lasts for a short period of time.

It is not very hard to get a First PREMIER Bank credit card because First PREMIER Bank offers cards for people with bad credit or better. After completing the online application, you might get approved in as little as 60 seconds if your application will not require further review.

Best feature: Flat-rate 2% cash back

The Synchrony Premier World Mastercard is a cash back credit card that earns 2% back on every purchase. There are no bonus categories, spending tiers or limits on cash back. The card does not charge an annual fee. There is a 3% foreign transaction fee.

Unlike the Synchrony Premier, the Citi Double Cash requires redeeming rewards instead of offering automatic redemption. The Citi Double Cash offers one of the most impressive low APRs on the market for balance transfers. It offers a 0% intro for 18 months on Balance Transfers.