Stein Mart extends consumer credit card deal with Synchrony Financial (2024)

FAQs

What is the minimum credit score for Synchrony Financial? ›

What's the Synchrony Bank credit card credit score requirement? 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.

Synchrony Financial has the Financial Strength Rank of 4.

GuruFocus Financial Strength Rank measures how strong a company's financial situation is.

*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.

About Synchrony Financial

Synchrony Bank, part of Synchrony Financial (NYSE:SYF), is a federal savings bank headquartered in Draper, Utah, and a member of the FDIC.

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.

Yes, it's possible to get a credit limit increase without asking, typically after 6-12 consecutive months of on-time bill payments with a new credit card account.

In 2023, the bank was ordered to pay a settlement of $2.6 million; the lawsuit claimed that Synchrony called people about bank accounts they did not own. In 2021, Synchrony paid $3.5 million in a settlement when California residents said the bank was making an unreasonable number of phone calls to people who owed debt.

A new lawsuit against Synchrony Financial in Los Angeles County accuses the financial services company of installing tracking software to invade customers' privacy and track their browsing habits. This complaint was first surfaced by Law.com Radar.

More about Synchrony: Synchrony Bank is owned by Synchrony Financial, a Stamford, Connecticut-based consumer financial services company.

Synchrony has an employee rating of 4.2 out of 5 stars, based on 2,180 company reviews on Glassdoor which indicates that most employees have an excellent working experience there.

What company is under Synchrony Bank? ›

Is Synchrony Bank secure? Synchrony Bank's deposit accounts are insured by the Federal Deposit Insurance Corp. (FDIC) up to the legal limit of $250,000 per depositor, per account ownership category. This insurance protects your money in the unlikely event of a bank failure.

Not full service: Synchrony Bank doesn't offer a checking account. Not as generous: Other banks may offer more generous ATM reimbursem*nts than Synchrony, which reimburses customers $5 per month for out-of-network ATM charges. Online only: Synchrony is an online-only bank, so there are no in-person branch locations.

The Amazon Secured Card and Amazon Prime Secured Card, issued by Synchrony Bank, are unique credit cards each with two sets of features – the Secured Card features and the Store Card features. The two credit features have some different rates, fees and rewards.

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. .

Chip Lupo, Credit Card Writer

Yes, it is hard to get the Synchrony Premier World Mastercard® because it requires good credit for approval. Unless your credit score is 700 and you have a lot of income, it will be difficult for you to get approved for the Synchrony Premier Card.

Synchrony has an employee rating of 4.2 out of 5 stars, based on 2,180 company reviews on Glassdoor which indicates that most employees have an excellent working experience there.