Companies which use Synchrony Bank

There is a long list of companies that use Synchrony Bank. We will narrow it down to major companies.

Sam’s club

Synchrony bank is the issuer of Sam’s club MasterCard and credit card. If you are a member of Sam’s club, you can earn up to 5%  back with Sam’s.

Lowes

Synchrony bank is the issuer of Lowe’s credit card. Your credit score must be above 640 to qualify for a Lowe’s advantage credit card. You can only use Lowe’s advantage credit card in store. There are no annual fees. It has an APR of 26.99 %. You get 5% off when you shop using their credit card.

Verizon

Synchrony bank is the producer of Verizon’s credit card. Verizon Visa card you to save on their everyday bills. The card can be used in any store Visa cards are accepted. There are no annual fees and you can get up to $100 credit upon approval,  and  4% off every purchase. 

Rakuten

Synchrony bank issues Rakuten with a visa credit card . It offers 3%  cashback on qualifying purchases and online purchases using their portal. There are no annual fees for the use of this credit card.  

Cathay Pacific 

Synchrony bank issues Cathay Pacific Airways with a Visa credit card. You can earn Asia miles, dine, and make purchases. You  get priority discounts on flight and travel awards and there are no foreign transaction fees on purchases made with your Visa credit card.  You pay an annual fee of $95 per annum.

American eagle outfitters

Visa credit card of American outfitters is issued by Synchrony bank.  You earn points for every dollar spent using the credit card. There is 0% annual fees. They charge a late payment fee of $40 after a Grace period of 23 days.

Ashley

Ashley advantage credit cards issued by Synchrony bank can be used in store to make purchases. There is a  38% charge on late payment. For every $2500 spent, you get $50 off using their credit card.

Guitar Center

Synchrony bank issues a credit card called the gear card  to members and a rewards program. With a 0% annual fee and flexible payment options, cardholders get 5% cashback on leading musical instruments. You earn points for every $1 spent and $10 certificate for every $1000 spent. You will be charged $39 on late fees.

Banana republic

The  credit score for Banana Republic’s credit card is 700. Synchrony bank issues customers of Banana republic with a Visa credit card, Gap inc. signature credit card and a rewards credit card which give new members 20% discount off their first purchase provided they make use of it in 14 days. You can use your store credit card at Gap inc. stores like Gap, Old Navy and Athleta. It is acceptable at Visa cards payment points.

Synchrony bank competitors include Wells Fargo, Citi Bank, Capital one, American Express, and Bread Financial holdings.

Competitive advantage

The competitive advantage Synchrony bank has over other Banks is their high interest  on their savings, money market and Certificate of Deposit and high yields on their risk free investments. Being an online bank gives their clients  access to their account  at anytime

Summary

Synchrony is an online bank and a financial service provider. They are a 24/7 bank that offers  flexible payment options through the choice of retailer. Besides their product offerings, their Visa and MasterCard from companies can be used anywhere Visa and MasterCard is accepted.

Does synchrony Bank do credit checks?.

Yes, they do credit checks and you must score a minimum of 640. 

Is synchrony Bank card issued at the bank or in store?

The cards are usually issued in store after approval

What are the major complaints from consumers about the Synchrony Bank credit card?

Overcharged interest in their credit cards.