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Would You Apply for a Synchrony Card Today?

Established Contributor

Would You Apply for a Synchrony Card Today?

For background, I've never had any kind of card issued by Synchrony Bank. In general I don't like store cards and have none in my portfolio. But I need a couple of sets of new tires, and America's Tire (Discount Tire) is offering 0% interest on tire purchases if you open a Synchrony Car Care card. I got pre-qualified on their site and am considering applying. 


But I've read about all the recent Synchrony card abrupt closures. I don't want that to happen to me! Would you recommend applying for a Synchrony card today? My use of the card would be pretty limited.


Regular Contributor

Re: Would You Apply for a Synchrony Card Today?

I'm one of the ones that had SynchB close all my accounts without warning and that was with never ever being late on any payment ever.  I will never do business with them again.

BK7 discharged - 06JUL2021

Before discharge:

Since discharge:

FICO8 Scores on 08/19/2021:
Message 2 of 58
Valued Contributor

Re: Would You Apply for a Synchrony Card Today?

We app'd for a Lowe's card 2 weeks ago, so for me, yes. That said, I wouldn't app for another one on my profile, and we probably won't get another one on DW's profile. It seems the massive shutdowns have been people with a lot of cards and exposure, so I'm not getting any more than the 2 cards I have. We have some home repairs and remodeling coming up, so getting the Lowe's card made sense. 

I won't put ourselves in the position that a Sync shutdown would hurt us though, and I certainly can't blame anyone that has got shutdown for never doing business with them again. 

Our credit card journey started 3/2018

Hover over cards to see limits and usage.
Total CL - $352,250
Cash Back and SUBs earned as of 10/1/21- $6823.23

CU Memberships

Goal Cards:

Message 3 of 58
Valued Contributor

Re: Would You Apply for a Synchrony Card Today?

I have two Synchrony accounts. One with Amazon and one with Verizon. After seeing the Synchrony closures on here I did not apply for the Sam’s Club card that I wanted. So I guess I wouldn’t apply today.

CARDS: Discover It | QuickSilver One | Kohl’s | BBT Spectrum Cash Rewards | BBT Bright | PenFed Gold Visa | NFCU CashRewards | NFCU More Rewards | NFCU Platinum Visa | AMEX BCE | Verizon Visa | Wells Fargo Active Cash | Amazon Prime | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 4 of 58
Frequent Contributor

Re: Would You Apply for a Synchrony Card Today?

I wouldn't open any store cards I wouldn't have any use for.  That being said, I've had my share of Synchrony cards - especially during me rebuild, they were one of the few lenders that let me in - but I've whittled them down to just the few I have left.  I've not had any problems with them, nor do I have a crazy amount of exposure - 3 accounts at $40k total - so opening a card with isn't going to hurt you.


That being said, you might also be able to find a 0% interest offer with a card you already have - Discover is usually good for this if you haven't gotten one in awhile - or opening a new major credit card that may be on your wish list.  I find opening a new credit card rather than store card is a much better bet.

AMEX Gold | Purdue FCU $20,000 | FNBO Evergreen $15,000 | TFCU Plat Visa $15,000 | PenFed Platinum Rewards $15,000 | Synchrony Premier MC $10,000 | SG Visa $10,000 | NFCU MoreRewards $7,000 | NFCU cashRewards $17,000 | Discover IT $5,000 | Capital One BuyPower $950 | AMEX Amazon Prime Business $3,000

B&H Payboo Card $15,000 | Amazon Prime Card $10,000 | PC Richard Card $15,000 | Target RedCard $2,000 | Walmart Store Card $1,400 | Shell Gas Card $1,200 | Overstock Store Card $7,000 | Kohl's Store Card $3,000

Spring Cleaning:
C̶a̶p̶i̶t̶a̶l̶ ̶O̶n̶e̶ ̶Q̶u̶i̶c̶k̶S̶i̶l̶v̶e̶r̶ ̶$̶1̶,̶0̶0̶0̶ | C̶r̶e̶d̶i̶t̶ ̶O̶n̶e̶ ̶V̶i̶s̶a̶ ̶$̶1̶,̶2̶0̶0̶ | M̶e̶r̶r̶i̶c̶k̶ ̶B̶a̶n̶k̶ ̶$̶2̶,̶7̶0̶0̶ | M̶a̶r̶v̶e̶l̶ ̶M̶a̶s̶t̶e̶r̶c̶a̶r̶d̶ ̶$̶1̶,̶̶2̶0̶0̶ | C̶o̶m̶e̶n̶i̶t̶y̶ ̶M̶a̶s̶t̶e̶r̶C̶a̶r̶d̶ ̶$̶1̶,̶1̶8̶0̶
Message 5 of 58
Valued Contributor

Re: Would You Apply for a Synchrony Card Today?

There's not much in their portfolio that I find attractive enough to risk getting burned the way I've seen happen to many people here.  I almost apped for a PayPal MC but decided not to when they added foreign transaction fees.



The only card of theirs now that I might go for is the Verizon card, but solely so I could pay my phone bill with a card while enjoying the autopay discount, since that's the only credit card that qualifies.  I have other stuff I'd rather get first, though.

Message 6 of 58
Valued Contributor

Re: Would You Apply for a Synchrony Card Today?

Get that Discount Tire card - it is worth it if you have multiple vehicles, as paying off tire purchases at 0% interest over 6 months is a great deal


just keep it to that one (or two) Synchrony cards and you should be just fine

CLI every 6 months, but maybe stop after you hit $10k



i did have 5 cards closed by them, so i wont do business them again - but that doesn't mean you shouldn't if you don't already have any cards



Dec 16/2019. EX. 721. EQ. 723. TU 746
Dec 29/2020 EX. 729 EQ. 723 TU 746
Sept 9/2021 EX. 734 EQ. 737 TU 746
Inq. EX 5 EQ 2 TU 5 - - CC 4x24, 3x12, 0x6
Amex BCP $32k - Apple GS $19k - BMW/Elan $9k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Boundless $10k - Chase United Club Infinite $26k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $23k - HSBC Gold - $13k - Penfed Gold - $12.5k - USBank Cash+ -$24k - HSBC LOC - $13.5k - PenFed LOC - $20k
Message 7 of 58
Senior Contributor

Re: Would You Apply for a Synchrony Card Today?

I'm similar to you, @ridgebackpilot.  Never had a Synchrony card.  Dislike store cards and got rid of most of that type (included co-branded cards) except for my Costco card.  While I think there is "more to the story" in some of the mass closings, I also distrust Synchrony's lending model based on how I've seen them treat other customers.  (Approving large limits relative to profile and then mass shutdowns of the accounts seems irresponsible and poorly executed, IMO.)  


Still, if I would benefit from a short-term offer such as two sets of tires at 0% APR, I probably wouldn't rule them out.  But I would pay it off as agreed and promptly close that account at consumer request. 


I believe the main cards they offer that have made me think twice have been the Lowe's card and the Verizon Visa, since I use Verizon.  Lender diversity is always important to prevent any single one from having too large of an impact to our profile.  Due to their history with other customers, if I ever got a long-term Synchrony card I would probably limit it to just one or two selected cards.  

Length of Credit > 35 years; Total Credit Limits > $500K
AoOA > 28 years (Jun 1993); AoYA (Aug 2020); Gardening since 08/15/20.
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 8 of 58

Re: Would You Apply for a Synchrony Card Today?

If you need it for the tires, just apply for Paypal credit (Seperate from the 2% MC card) and that won't be as limited as the Car Care card. It's still Syncrony thats subject to issues but you'll have more options for how to use it via paypal.

8/2019: EQ 617, TU 578, EX 628
9/2021: EQ 684, TU 662, EX 671
Message 9 of 58
Established Contributor

Re: Would You Apply for a Synchrony Card Today?

I would not open a store card, quickly they add up and become hard to manage; in addition, they provide no use other than at that specific store that offers it.

Check if your local credit union has a loan offer for you, either 0% APR or a low one. I think that is a better approach and might work better for your credit (paying an installment loan) than paying a credit card. 


Current Cards:
Message 10 of 58
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