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Would You Apply for a Synchrony Card Today?

Established Contributor

Re: Would You Apply for a Synchrony Card Today?

Yes, I would get a synchrony card if it was a card I really wanted. I am not fan of the closures and I feel sorry for everyone who was at the end of the adverse actions. But if I based my decision on getting a card on adverse actions that happen to other members who posted on this board, I wouldnt have any cards.

Message 11 of 58
Valued Contributor

Re: Would You Apply for a Synchrony Card Today?

one other note, i was able to use my Discount Tire card at my auto shop as well - so it is not strictly locked to just the tire store


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 12 of 58
Regular Contributor

Re: Would You Apply for a Synchrony Card Today?

I wouldn't make them the majority of my cards. I regret opening Venmo. It's been more trouble than it's worth so far. 

Message 13 of 58
Valued Contributor

Re: Would You Apply for a Synchrony Card Today?

Aren't most credit cards offering 0% for 6, 12, 18, or 21 months when applying at this point, at least on balance transfers? 


If you're going to take on a new card, make it one you're not skeptical of... and two, that you can use for more than one specific purpose if necessary. I think part of Synchs weirdness comes from the fact that they're tuning into so many different data aggregating agencies at once, along with using that goofy Vantage 4.0 scoring model (which has trending data IIRC. ). If things don't line up between all these sources, or they catch a glitch in one of them, they just hair trigger, pull the pin and shut you down, no matter what. 




AODFCU 3% Visa ($10K), Amex PRG (NPSL), Amex Blue Cash ($27K), Amex Simply Cash+ ($4K), Amex Business Cash ($22.5K), Discover ($29.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase F Visa Sig ($8.3K), Chase CSP Visa Sig($6.5K), FCB/Elan Rewards Visa Sig($15K), Buckle ($1.3K), BofA AAA Rewards ($84.5K), Paypal credit ($10K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($13K), PenFed PCR ($3500), Bank of the West CB MC ($3K), PNC Cash Rewards ($14K), NASAFCU Rewards Visa ($20K), BOC/Elan Max Cash MC ($25K), BoA Business Customized Cash Rewards MC ($8k)
Message 14 of 58
Regular Contributor

Re: Would You Apply for a Synchrony Card Today?

It's my understanding (from reading on this forum over the years) that having tire store cards is viewed as a negative in the auto insurance score.  The benefit of the card may outweigh any possible negatives in that regard...just something to consider.

Message 15 of 58
Valued Contributor

Re: Would You Apply for a Synchrony Card Today?

My answer currently would be no.  I had a Sam's Club credit card a few years ago which is issued by Synchrony Bank. Used it every time I went to Sam's and always paid the balance in full.  They closed my account after 2 or 3 months of inactivity. Back then I bought so much stuff I didn't need to go to Sam's every single month.


Found out about the card closure when the Sam's Cashier told me my card was declined. I had a cart full of items and a lot of people behind me in line. It was so embarrassing.  Although I still shop at Sam's every month, or at least every other month, I have been extremely reluctant to open a Sam's credit card again with this company despite all the great benefits they have added to it.  I just don't trust them at all! 


Message 16 of 58
Regular Contributor

Re: Would You Apply for a Synchrony Card Today?

I have two Synchrony credit cards (Verizon Visa and BH Photo financing card) and a paypal line of credit. I got these cards for the incentives offered and use the Verizon Visa as a daily driver, my BH photo financing card when I need apple gear (I sometimes use my apple card for this but I usually use the BH Photo card).


I use my paypal financing card when I buy from small stores in Europe and want to use paypal, or when I want guaranteed 0% financing. 


What I like about Synchrony:

1. Zero percent financing offers for six or twelve months on BH photo card and paypal line of credit.

2. 4% cash back (towards verizon bill) on groceries. 3% cash back towards restaurants and food delivery on Verizon Visa

3. decent credit lines.


I have had no problem with Synchrony, but I use my cards regularly, pay them off quickly (even the 0% purchases never have balances for more than a couple of months or so) and always keep the balances on the cards less than 20% of my available credit on the card. (Even with financing)


I think if you are getting a decent signup bonus and 0% financing with the card, then it is probably worth signing up for. As with anything, YMMV.

Message 17 of 58
Community Leader
Mega Contributor

Re: Would You Apply for a Synchrony Card Today?

Sure would. Opened a care credit not too long ago with the intent to use it for dental work. Glad I did. Ended up putting $900 in vet bills on it instead with 12 month 0%. 

Message 18 of 58
Valued Contributor

Re: Would You Apply for a Synchrony Card Today?

@ridgebackpilot wrote:

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.


I would. Synchrony has been good to me (Verizon VISA, Lowe's CC, PC Richard CC). Good with the CLI Requests too Smiley Happy


Potential Future Cards
Message 19 of 58
Established Member

Re: Would You Apply for a Synchrony Card Today?

<span;>I seen the posts detailing how Synchrony closed accounts randomly on people and I still went ahead and got the Venmo card. I was approved for a $3,600 limit earlier this year and was surprised but took it. Used the card a few times and haven't touched it in a few months as I am trying to keep my usage to one card at a time. 

<span;>Will I get another one of their cards? Nope. I'm too scared to.

Message 20 of 58
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