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Synchrony Premier™ World Mastercard

Taurus22
Valued Contributor

Re: Synchrony Premier™ World Mastercard

I received the invitation as well, but they wasted one on me. Synchrony.....bleh.  They are far too fickle for me, closing accounts suddenly, etc.  I doubt very seriously that I will ever apply for any Synchrony card. They are in my top three issuers to avoid, along with Comenity and Capitol One. (Capitol One only due to the triple pull....I would violate my own rule if they offered a card I absolutely couldn't live without. But to date, they haven't done so.)

My Wallet
Sock Drawered

On Deck:
Message 21 of 29
JNA1
Valued Contributor

Re: Synchrony Premier™ World Mastercard


@Anonymous wrote:

@FinStar wrote:

@Anonymous wrote:

@FinStar wrote:

Anything is possible, just like someone who had their Venmo account closed after a week.  Again, we don't know what SYNCB is looking for internally, so it can still be a non-event for a lot of people here and outside of MF.  My SYNCB accounts are still active and I plenty of other individuals' as well.  So, this isn't [SYNCB] doomsday for everyone.


Yeah, my Amazon Store Card is still intact after my 3 card non-Sync spree last month, just seems like many of the shutdowns have seemed to draw attention with new Sync accounts or CLIs on existing ones. 


I honestly think you'll be safe.  Now, if you had the others like B&H Payboo (which I actually still think it sounds funny as I type it), PPMC, etc., then *maybe*.  But, I can understand better safe than sorry in case the hammer comes down unpredictably.  That said, you have a back up for AMZ (on the biz side), if anything.


Oh yeah, I am not worried about it. My spreeing only dropped my TU VS3 scores by a single point each - 817 to 816. I also went from 787 to 783 on VS4. Two of three FICO 8s are still over 800, haven't pulled EQ (sucks that Langley switched to EQ9 because now the only way I can get that one is Experian trials) but I'm sure it's still high. Honestly I am surprised that the only negative impact was from my AoYRA going back under a year which cost me those points and the rest was a nothingburger. 

I have the Affinity card for Amazon as well if Sync got twitchy. Things kind of blew up in my face with my business plans, my anxiety really ramped up again, so that AMEX won't get much usage really. 

And yes, that Payboo card was the most ridiculous name ever haha. I agree that dropping my Sync exposure to just the single card likely pulled me off their radar. 


The only reason I'm only considering this card for DW is for the $100 SUB and the fact that it is a card that should grow to at least $10K fairly easily. She doesn't have a Sync card, so I look at it as a way to build her overall CL. We're only going to apply for this one (if we even do at all) after we pull the trigger on the Citi Custom Cash card. 

Our credit card journey started 3/2018

Hover over cards to see limits and usage. Total CL - $435,350. Cash Back and SUBs earned as of 4/29/22- $11,321.66
CU Memberships

Goal Cards:

Message 22 of 29
LADave
Regular Contributor

Re: Synchrony Premier™ World Mastercard


@coldfusion wrote:

Caters to those in their target demographic who would be interested in a 2% card but who can't get or don't want a Paypal account.


There seems to be one big difference (and one small difference) between the Synchrony Premier™ World Mastercard and the PayPal Mastercard, both of which make the Synchrony card look a lot better.

 

As far as I can tell, the PayPal card isn't sold as a World Mastercard with higher benefits and a bigger initial guaranteed CL, although some PayPal cardholders have been upgraded to World (and it's possible others got World on their initial approval).


The Synchrony card also works with Apple Pay, and the PayPal card doesn't, which is kind of a deal breaker for me.

 

Having said all that, the Synchrony card isn't attractive enough for me to seek out if I could apply that way. (I did get an offer in the mail during the fall that I declined, mostly because the timing wasn't right). But as a card with basic cash rewards, high CLs, and some premium benefits with no annual fee, it's fairly attractive.

Message 23 of 29
flash3
Member

Re: Synchrony Premier™ World Mastercard

Does the Synchrony Premier have Cell phone protection?  It lists this benefit on their website.

But when I checked it on the Mastercard website, it said I did not have any benefits.

So it seems that either World Mastercard removed this from Synchrony without telling me, or that Synchrony is lying

about offering cell phone insurance.

If anyone else has the Synch Premier card can call or verify if they have cell phone insurance?

I got mixed answers when I called Synch customer service, with 1 guy telling me to check with Mastercard, and the 2nd guy

telling me they offer "debt relief" in case of an "protected event" - which he claimed was not insurance but just phone protection.

 

So is this phone protection only if you buy a smart phone (like product warrantee) or is it offered when you pay the monthly cell phone plan payments?

Message 24 of 29
LADave
Regular Contributor

Re: Synchrony Premier™ World Mastercard

Mastercard began offering cell phone protection for their World cards in 2019, and I've found no news that they've taken that benefit away.

 

This pamphlet has the latest info I found about it (starting on page 3):

Masterguide to benefits for World credit cardholders (mastercard.us)

 

Mastercard doesn't seem to list it on their sales pages, which might be more of an indication that they don't think it's as big a differentiator between their cards and Visa's as the Doordash, Hello Fresh and Lyft credits.

 

Franklly, if I were in their marketing department and cell phone insurance isn't as interesting to most customers, I'd probably advise them to do the same thing. But Synchrony's marketing department has other ideas, and maybe it will pull in some customers who don't realize that other World Mastercards also offer cell phone protection.

Message 25 of 29
flash3
Member

Re: Synchrony Premier™ World Mastercard


@LADave wrote:

Mastercard began offering cell phone protection for their World cards in 2019, and I've found no news that they've taken that benefit away.

 

This pamphlet has the latest info I found about it (starting on page 3):

Masterguide to benefits for World credit cardholders (mastercard.us)

 

Mastercard doesn't seem to list it on their sales pages, which might be more of an indication that they don't think it's as big a differentiator between their cards and Visa's as the Doordash, Hello Fresh and Lyft credits.

 

Franklly, if I were in their marketing department and cell phone insurance isn't as interesting to most customers, I'd probably advise them to do the same thing. But Synchrony's marketing department has other ideas, and maybe it will pull in some customers who don't realize that other World Mastercards also offer cell phone protection.


@LADave 

Sorry, but I think mastercard decided to remove the cell phone insurance from most of their cards after January 1st.  Maybe it got too expensive to offer since it costs $500 to replace a stolen/damaged phone and too many people were taking advantage of it.  Tons of reports of it being removed from MC Elan cards, Flex cards, citizens bank, etc.  It only works for the world elite cards now, such as Sofi. 

 

You have to go to the mastercard website to verify that your card number has the new benefits. 

 

There are only a few no annul fee cards that offer it now.

 

The Sallie Mae Evolve 2% card offers cell phone insurance as I far as I know.

The SOFI world elite 2% mastercard offers cell phone insurance.

All TD Bank credit cards have cell phone insurance as far as I know (2% cashback version or 3% dining version).

Well Fargo 2% card also offers it.

Message 26 of 29
LADave
Regular Contributor

Re: Synchrony Premier™ World Mastercard

@flash3 Sadly, you appear to be right. Proud Money did a video on this yesterday.

 

Amazingly Chase didn't seem to get the memo, either. As I'm writing this, they're still advertising it as a benefit on their Freedom Flex card.

 

Message 27 of 29
Remedios
Moderator

Re: Synchrony Premier™ World Mastercard

Just a quick reminder, please do not post links to monetized YouTube channels.

Naming them is fine, just no links. 

Message 28 of 29
LADave
Regular Contributor

Re: Synchrony Premier™ World Mastercard

So it looks like the Chase Freedom Flex does still have cell phone insurance from MasterCard, even though MasterCard was giving incorrect info to Chase customers about this (Proud Money just did a mea culpa video on this).

 

It looks like banks need to opt-in for cell phone protection from MasterCard, so not every World MasterCard has it. The only way I'm aware of to verify whether a card has it (beside's the bank's word) is through MasterCard's benefits page with an individual's card. Since I don't have a Synchrony Premier, I'm hoping that someone who does have one could try it and see if it's still available. (And hopefully, also tell us how you like the card.)

Message 29 of 29
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