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Synchrony Preferred Mastercard Preapproval

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Brucemac
Established Member

Synchrony Preferred Mastercard Preapproval

Received a preapproval offer in the mail for their Preferred Mastercard. Not sure what that means.  I don't see any perks and it has a $29.24% interest rate! I currently have their Sam's Club MC at $10,000 SL and Lowe's at $8500. Is there any benefit to adding this?  I searched the forum and didn't find anything in this category. Please let me know if anyone has this card and it's worth the HP!

Message 1 of 5
4 REPLIES 4
cashorcharge
Community Leader
Super Contributor

Re: Synchrony Preferred Mastercard Preapproval

Unless you need a MC, there are many other options out there that aren't tied to 29% and that don't have to deal with the on again/off again of SYNC and their treatment of accounts.  

Message 2 of 5
Laredo
Contributor

Re: Synchrony Preferred Mastercard Preapproval

I see interest rates keep rising but 29% is high.  Unless you are in dire need of a MC I would skip.

(Ch13 Discharged 07/22) Current Cards: American Express Gold: NPSL | American Express Blue Cash Everyday: $15,000 | American Express Delta SkyMiles Platinum: $1,700 | Navy Federal Credit Union Cash Rewards: $10,000 | Dover Federal Credit Union Cash Back: $10,000 | Penfed Cash Rewards: $7,500 | Truist Enjoy Cash: $5,500 | Truist Enjoy Travel: $5,500 | Truist Future: $3,500 | Bread American Express Cash Back $8,500 | Discover it $12,000 | USAA Rewards Amex $12,000 | Kohl’s $800 | Care Credit $7,000 | Lowes $3,000 | Amazon Store Card $1,500 | Jared $5,000
Total Revolving Credit: $108,500
Closed Rebuild Cards: Ollo Platinum: $3,900 | Ollo Rewards: $3,000 | Mercury $3,000 | Surge Card $1,000
Message 3 of 5
coldfusion
Community Leader
Mega Contributor

Re: Synchrony Preferred Mastercard Preapproval

The preapproval itself would be pretty solid but the juice isn't worth the squeeze for this card, it's just a basic no-frills Mastercard.  If the preapproval had been for a Premier card our feedback would probably been a lot more positive.

 

   

(2/2025)
FICO 8 (EX) 850 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 4 of 5
Brucemac
Established Member

Re: Synchrony Preferred Mastercard Preapproval

Thank you all for confirming this card is not worth it. I'll stick with their Sam's Club MC and Lowe's card. Those offer value. 

Message 5 of 5
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