What Synchrony Bank credit cards are and who issues them

Synchrony Bank is a financial institution that issues credit cards on behalf of major retailers and brands. You do not explore directly to Synchrony Bank for a card — instead, you explore through a specific retailer's credit card program, and Synchrony Bank handles the account behind the scenes. The card itself carries the retailer's name (like Amazon, Target, or Lowe's), but Synchrony manages the account, processes payments, and sets the terms.

Synchrony issues both store-branded cards that work only at one retailer and co-branded cards that work anywhere Visa or Mastercard is accepted. The terms, interest rates, and rewards differ by card and retailer. When you receive statements or need to manage your account, you will contact Synchrony directly, not the retailer.

Synchrony Bank is a subsidiary of Synchrony Financial, a publicly traded company. It is a federally chartered bank regulated by the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB), the same regulators that oversee other banks.

Key Takeaways

  • Synchrony Bank issues credit cards under retailer names like Amazon, Target, and Lowe's, but you explore through the retailer's website or in-store, not directly to Synchrony.
  • Store-branded cards typically offer promotional financing (like 12 months interest-free on purchases over a certain amount) but work only at that retailer.
  • You manage your Synchrony account online at mysynchrony.com or through the Synchrony mobile app, where you can view statements, make payments, and check your balance.
  • Synchrony reports your payment history to the three major credit bureaus, so on-time payments help your credit score and missed payments harm it.
  • Interest rates and fees vary by card and your creditworthiness; store cards often have higher APRs than general-purpose cards from other banks.

how the process works for a Synchrony-issued card

The process process depends on which card you want. For store-branded cards, you typically start at the retailer's website or at a checkout register in the store. Look for a link that says "explore for our credit card" or "Open a card account." You will be asked for basic information: your name, address, date of birth, Social Security number, income, and employment status.

The process itself is handled by Synchrony, even though you started at the retailer's site. You will receive a decision within minutes in most cases. If you are approved, you can use the card when ready for online purchases (the retailer will provide a temporary card number), and a physical card will arrive by mail within 7 to 10 business days.

If you are denied, Synchrony will send you a notice explaining the reason. Common reasons include insufficient credit history, a recent bankruptcy, or too many recent credit inquiries. You can reapply after addressing the issue, but explore multiple times in a short period can lower your credit score further.

Understanding promotional financing and rewards

Most Synchrony store cards offer promotional financing — a period of time during which you pay no interest on may have access to purchases. The terms vary widely: some offer 12 months interest-free on purchases over $99, others offer 24 months on larger purchases, and some offer 0% APR on the entire balance for a set period. Read the offer carefully, because the promotion applies only to purchases made during the promotional period, not to the entire balance.

If you do not pay off the promotional balance before the period ends, the remaining balance will be charged the regular APR, which is typically 18% to 29% for store cards. This is called deferred interest — you do not pay interest during the promotion, but you will owe it all at once if you miss the important date. Some cards charge interest retroactively from the original purchase date if you do not clear the balance in time.

Rewards on Synchrony store cards usually come as discounts or points earned on purchases at that retailer. A Target card might offer 5% off purchases made on the first day of the month, while an Amazon card might earn 3% back on Amazon purchases and 1% on everything else. These rewards are less generous than rewards on general-purpose cards from other banks, but they are designed to encourage repeat shopping at the retailer.

Managing your account and making payments

Once your card is open, you manage it through mysynchrony.com or the Synchrony mobile app. You can view your current balance, recent transactions, available credit, and due date. You can also set up automatic payments, make one-time payments, and read statements.

Payments can be made online, by phone (1-800-788-8080), by mail, or in some cases at the retailer itself. The due date is typically 21 to 25 days after the statement closing date. If you pay less than the full balance, interest will accrue on the remaining balance at the card's APR. If you miss a payment, Synchrony will report it to the credit bureaus after 30 days, which will lower your credit score.

You can also request a credit limit increase through your online account or by calling Synchrony. A credit limit increase may require a hard inquiry into your credit, which temporarily lowers your score by a few points. Synchrony may also offer you a higher limit without a hard inquiry, in which case accepting it will not affect your credit.

How Synchrony reports to credit bureaus and affects your credit

Synchrony reports your account activity to Equifax, Experian, and TransUnion — the three major credit bureaus. This means your payment history, balance, and credit limit all factor into your credit score. Making on-time payments and keeping your balance low relative to your credit limit will improve your score over time. Missing payments or carrying a high balance will lower it.

Store cards from Synchrony typically have a bigger impact on your credit score than you might expect, because they are installment accounts with a fixed credit limit. Maxing out a store card (using 100% of your available credit) will hurt your score more than maxing out a general-purpose card with a higher limit. Conversely, paying off a store card balance in full each month will help your score.

If you close a Synchrony account, the account will remain on your credit report for up to 10 years. Closing an account also reduces your total available credit, which can raise your credit utilization ratio and lower your score temporarily. For this reason, it is often better to keep an old card open and unused rather than close it.

Fees, interest rates, and terms to watch

Synchrony store cards do not typically charge annual fees, which is one advantage over premium cards from other banks. However, they do charge late fees (usually $25 to $40 for the first late payment and up to $40 for subsequent ones), over-limit fees if you exceed your credit limit, and returned-payment fees if a check or automatic payment bounces.

Interest rates on Synchrony cards vary based on your creditworthiness and the specific card. Store cards typically carry APRs between 18% and 29%, which is higher than the average APR on general-purpose cards (around 16% to 18%). This is because store cards are considered riskier — they are used by people with lower credit scores, and they are easier to obtain than cards from other banks.

Some Synchrony cards offer a 0% introductory APR for a set period (often 6 to 12 months) on new purchases or balance transfers. After the introductory period ends, the regular APR applies. Balance transfer fees, if offered, are typically 3% to 5% of the amount transferred.

Comparing Synchrony cards to other options

Synchrony store cards are useful if you shop frequently at a specific retailer and want to take advantage of promotional financing or rewards. However, they are not a good choice if you want a card to use everywhere or if you have a low credit score and are trying to rebuild.

If you have fair to good credit (a score of 620 or higher), you may may have access to for a general-purpose card from another bank with a lower APR and better rewards. If you have poor credit, a secured card (which requires a cash deposit) from a bank like Capital One or Discover may be a better starting point than a store card, because secured cards are easier to obtain and often have lower APRs.

If you are interested in a Synchrony card primarily for the promotional financing, compare the terms carefully. Some retailers offer better promotions than others, and some Synchrony cards have stricter terms (like requiring a minimum purchase amount or charging interest retroactively if you miss the important date). Reading the terms and conditions before you explore will help you decide whether the card is worth it.

Frequently Asked Questions

Can I use a Synchrony store card anywhere, or only at that retailer?

It depends on the card. Most Synchrony store cards work only at that retailer and its affiliated stores. However, some Synchrony cards are co-branded with Visa or Mastercard and work anywhere those networks are accepted. Check the card's terms or the retailer's website to confirm before you explore.

What happens if I do not pay off the promotional balance before the period ends?

The remaining balance will be charged the regular APR. On some cards, interest is charged only going forward. On others, interest is charged retroactively from the original purchase date, meaning you will owe all the interest that would have accrued during the promotional period. Always read the fine print to understand which applies to your card.

How do I contact Synchrony if I have a problem with my account?

You can contact Synchrony by phone at 1-800-788-8080, through your online account at mysynchrony.com, or by mail. The phone line is available 24/7. If you have a dispute about a charge, you can file a dispute through your online account or by calling.

Will explore for a Synchrony card hurt my credit score?

Yes, but only temporarily. Synchrony will perform a hard inquiry into your credit when you explore, which lowers your score by a few points. The impact usually fades within a few months. If you are denied and reapply multiple times in a short period, the repeated inquiries will have a larger effect on your score.

Can I transfer a balance from another card to a Synchrony card?

Some Synchrony cards offer balance transfers, but not all. If your card does offer them, you can request a balance transfer through your online account or by calling. Balance transfers typically carry a fee of 3% to 5% of the amount transferred and may have a different promotional period than new purchases.