topic Re: Synchrony Cards - Are they tied to merchant? in Credit Cards

Synchrony Cards - Are they tied to merchant?

CoSprings99 — Tue, 28 Jul 2015 05:33:45 GMT

I run a local retail store and we offer financing through Synchrony Bank.

One of our competitors across town also offers financing through Synchrony Bank. I was told by the person setting us up with Synchrony that their (the competitiors) customers who had a Synchrony account could use their limit at our store also. We had our first one today.

Does this work across the board with Synchrony or is it just with private financing for local stores that can do this? I know I used to be able to do this with HSBC. I could use my Northern Tool account at Costco and vice versa.

Re: Synchrony Cards - Are they tied to merchant?

Anonymous — Tue, 28 Jul 2015 07:16:30 GMT

Will your store issue its own card or is it some type of line of credit in-house? I know there are a few cross retail cards like walmart and sams but those are walmart anyway. Firestone CFNA credit is like that, you can use it at a number of other car repair places, and the ones you cant, with a phone call you can as well if they are cfna. It would be nice to not max out a specific card and use a cousin card with better limit to take up the slack if it was all the same bank.

Wishful thinking but i feel that owners of accounts with synchrony over 5 years with stellar history should get some kind of cross use, or a large CLI but if you are that good with them, you should have visa/mc's issued by then anyway.

However when everyones after the same slice of the pie, and the customer is in your store already, having another payment option is a good sell.

Re: Synchrony Cards - Are they tied to merchant?

SunriseEarth — Tue, 28 Jul 2015 09:18:50 GMT

The Synchrony Financial aspect of things seems to be a different animal than their retail card operations. Beyond that, I really can't say how their lines work.

Re: Synchrony Cards - Are they tied to merchant?

UncleB — Tue, 28 Jul 2015 12:52:38 GMT

As a data point for the OP, I have a Belk credit card and Lowe's credit card, and the account numbers are different lengths (Belk is 16 digits; Lowe's is 14 digits). I've never tried to physically swipe one card at the other store, but I've also never heard of this working for anybody.

I do know what the OP is talking about with accounts being used at other stores, though. "Back in the day" a Marks-Fitzgerald Furniture credit card would work at CompUSA (I don't recall the issuer); I had a friend who took advantage of that more than once.