Review of Synchrony Bank Store Credit Cards
For people who already have store cards and those who are considering applying for one, chances are that it is a Synchrony Bank store card. The bank has been offering a wide range of financial services for decades and it is also known to partner with top retail brands in the United States.
Synchrony bank is also known to offer a large number of credit cards. For many store cards, no credit check is performed when applying. With Synchrony Bank store credit cards, a credit check is done, but since they have less stringent requirements, you can still get approved even if you do not have an attractive credit.
One of the most important things you should consider when applying for a Synchrony Bank store card are the terms and conditions. If you can meet their requirements, a Synchrony credit card can be a good option to help meet your financial needs.
Store cards offered by Synchrony Bank
Synchrony provides a wide range of store cards for their customers. The bank has almost 100 credit cards to be used in retail stores across the country.
Majority of these cards are backed by MasterCard or visa, which means that they can be used at any location. But there are also other cards that are only used at specific stores.
You can apply for a Synchrony Bank store credit card online and the process is also simple and straightforward. It is also easy to manage your payment online. However, there are other Synchrony cards that cannot be applied online.
If you want the cards, you have to visit the bank’s premises to apply. These cards are only used at selected automobile companies. You can use the cards to purchase motorcycles, snowmobiles, PWCs and ATVs.
The benefits of Synchrony Bank store cards
When applying for a Synchrony Bank store card, you can either choose a store-specific credit card or a rewards card. Both cards come with a number of benefits. Cardholders can get a discount, rebates or cash back rewards on purchases made.
Store cards make your life easier since you don’t have to carry cash around. Another benefit of store cards is that they can also help establish or rebuild your credit.
Qualifying for a credit card if you have bad credit may not be easy. But with store cards, there are less stringent requirements compared to the normal credit cards. It is therefore possible to get a store card even if you have bad credit.
The best Synchrony Bank store cards
With so many store cards offered by Synchrony Bank, the cards do not have the same benefits. Some of the cards come with more benefits than others.
It is important to apply for a card that can be used where you frequently shop to get more rewards. Actually, there is no point in applying for a credit card that you can’t use. In fact, the more you use your store card, the sooner it will take for your credit score to improve.
Amazon Store Card
Amazon has both physical and online stores. It is among the top retailers both in and out of the United States. With the Amazon store card, you can benefit from a wide range of attractive benefits.
If you apply for the store card online, it can take as little as 15 minutes to get approved. You will get a $20 Amazon gift card upon approval. If you are an Amazon Prime member, you will get 5% cash back on all the purchases you make at amazon.com.
The store card can offers you a chance to save several dollars if you are a frequent Amazon shopper. Rather than the cash back rewards, you can also choose promotional financing.
This option enables cardholders to receive interest-free financing. Depending on the price of the product, this period can range from 6 to 24 months. The card has a purchase APR of 26.24%.
It is, however, important to pay off your balances before the payment due date to avoid paying high interests. If the interest-free period ends before you pay the balance, all the accrued interest will be charged.
Art Van Signature card
For those who frequently shop at Art Van Furniture, the Art Van Signature card can be a good option. The card comes with a wide range of benefits and features that are worth checking out for.
The special financing offers are subject to your credit history. The better your credit score the better offers you will receive. Art Van credit card charges interest of 29.99% on regular purchases, which is important that you pay off your balances in full and on time to avoid the high interest charges.
Once approved, you will receive 20% off Art Van accessories, advance notice for any new products and you will also be invited for any special sales events. To be approved for the card, you need to have a credit score of 620+.
Hhgregg Credit Card
Hhgregg is a popular specialty retailer of computers, home appliances and televisions. The Synchrony credit card was initially meant for purchases only at hhgregg stores but they filed for bankruptcy and closed all their stores.
However, you can still use the store card at retailers in the Synchrony home design program. These retailers include Marlon Furniture, Ethan Allen and Mattress Warehouse. Hhgregg credit card does not offer an initial discount, but it also comes with a number of rewards.
Cardholders get 5% cash back on all purchases. You can also receive special financing for purchases amounting to $797 or above. To qualify for the hhgregg card, you need to have a fair credit score. The card does not charge an annual fee, which means that you can save up to $15.55 every year.
Is a Synchrony Bank credit card worth it?
Even before you apply for a Synchrony Bank store credit card, there are quite a number of things that you have to consider. First, a hard pull will be done on your credit report before you get approved. As much as you can still be approved for a Synchrony store card if you have bad credit, applying for several credit cards at once can have a negative impact on your credit report.
Synchrony Bank credit cards can be convenient for people who want to benefit from rewards offered as specific stores. But even after paying off your balances, it is prudent to keep your credit card accounts open. This is especially when you are in the process of rebuilding your credit. The older your accounts, the better it will be for your credit score.
How to pay your Synchrony credit card bills
The easiest way of paying for credit card bills is through online payment. Besides the online payment, you can also pay the bills through checks or mail. Making payment via phone is also accepted, although a fee is usually charged for the phone call. If you have any inquiries on Synchrony Bank Payment, you can contact Synchrony Bank customer service at 888 427-8826.
The bottom line
One of the many benefits of Synchrony Bank store credit cards is that they can help rebuild your credit. But this can only be achieved when you use the card responsibly. If you feel that you can end up spending more than what you can afford to pay, it is important to avoid the cards altogether.
For people with poor credit, your initial credit line may be small. But with responsible use of the card, your credit line will increase. You will also qualify for more rewards and benefits and most importantly, your credit score will improve.