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 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.

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.

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.

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.

Your credit limit starts at $200, and you will have the opportunity after the account is opened to build your credit limit up to $5,000 by adding funds to your security deposit. Your refundable² security deposit then acts as your credit limit, putting you in control.

For instance, Synchrony Bank uses the VantageScore 4.0 scoring model when evaluating credit card applications.

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

What are the easiest credit cards to get? ›

Typically, you'll receive Synchrony Bank's decision on your application within 30 days. Many applicants are approved much sooner than that. If you haven't heard back within a reasonable time frame, you can always call customer service to ask about the delay.

In fact, Synchrony uses TransUnion nearly exclusively. Though all three credit bureaus use your financial activities as the basis for their reports about you, there is the possibility that each bureau will have slightly different details and scores.

Synchrony Bank is a solid online bank with competitive interest rates on savings, money market, and CD accounts. It is a good option for consumers who are happy with their current checking account but want to earn a higher rate of interest on their savings.

Synchrony Bank is one of the largest issuers of store cards in the United States. More specifically, Synchrony Bank offers more than 100 credit cards that are affiliated with big-name brands like Amazon, eBay, PayPal, and Sam's Club.

The hard inquiry allows First Premier Bank to determine your credit risk and ultimately decide whether you'll be approved for an account. First Premier Bank credit cards require at least bad credit to be approved.

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.

PREMIER Bankcard credit cards are made for people with less-than-perfect credit. Credit limit increase eligible after 12 months of consistent responsible account management. We'll provide you a manageable credit limit and manageable payments meant to help you stick to your budget.