Synchrony Premier Mastercard | Synchrony Bank (2024)

FAQs

Is it hard to get a Synchrony Premier Mastercard? ›

Chip Lupo, Credit Card Writer

Yes, it is hard to get the Synchrony Premier World Mastercard® because it requires excellent credit for approval. Unless your credit score is 750 and you have a lot of income, it will be difficult for you to get approved for the Synchrony Premier Card.

750+ credit score needed

You need excellent credit to get the Synchrony Premier.

Getting approved for a Synchrony Bank account is generally easy—unless you've had a troubled banking history. Getting approved for a Synchrony credit card may not be as hard as other cards.

What's the Synchrony Bank credit card credit score requirement? It depends on the credit card you are interested in. Most credit cards offered by Synchrony Bank are designed for people with fair (640 – 699), good (700 – 749) or excellent (750 – 850) credit.

Does the Synchrony Premier card have pre-approval? You cannot check for Synchrony Premier pre-approval. Synchrony Bank does not offer pre-approval through its website, so anyone interested in applying for the Synchrony Premier Card will have to do so without the benefit of checking for pre-approval beforehand.

While credit scores are very important, Synchrony Bank credit card approval depends on several other factors as well. For example, applicants need to have enough income to make payments on the card. Synchrony Bank will also look at existing debts when considering your application.

Your credit limit starts at $200, and you will have the opportunity after the account is opened to build your credit limit up to $5,000 by adding funds to your security deposit. Your refundable² security deposit then acts as your credit limit, putting you in control.

The First PREMIER Bank credit score requirement is 500 for all cards, which means that people with bad credit or better have high approval odds. If your credit score is below the threshold needed for a credit card from First PREMIER Bank, it's best to wait to apply until you meet the credit score requirement.

For instance, Synchrony Bank uses the VantageScore 4.0 scoring model when evaluating credit card applications.

Yes, Synchrony Bank does a hard inquiry on your credit report whenever you apply for one of its credit cards. A hard inquiry usually results in a slight decrease in an applicant's credit score, but the effect only lasts for a short period of time.

What are the disadvantages of a Synchrony Bank? ›

What Are the Disadvantages of Synchrony Bank? Synchrony Bank has no physical locations for in-person banking. The online bank has no checking account. Synchrony customers can manage their accounts and get support 24/7 through its mobile app and automated phone service, but it offers limited live customer support.

More about Synchrony: Synchrony Bank is owned by Synchrony Financial, a Stamford, Connecticut-based consumer financial services company.

Synchrony Bank uses all three major credit bureaus (TransUnion, Equifax and Experian) in order to assess your creditworthiness. Either one or more credit bureaus may be used when evaluating a Synchrony credit card application. Credit reports, however, don't differ that much from bureau to bureau.

Flexible Ways to Apply

Click Prequalify to find out if you qualify for credit. There is no impact to your credit bureau score. Get a decision in seconds. If you prequalify, then apply.

Synchrony Bank will periodically review how you're managing your current limit and may lower it if they don't think you can afford the full thing.

The First PREMIER Bank credit score requirement is 500 for all cards, which means that people with bad credit or better have high approval odds. If your credit score is below the threshold needed for a credit card from First PREMIER Bank, it's best to wait to apply until you meet the credit score requirement.

Chip Lupo, Credit Card Writer

Yes, First Premier Bank does a hard inquiry on your credit report whenever you apply for one of its credit cards.

The First PREMIER® Bank Mastercard Credit Card is available to people with bad credit. That means people with credit scores below 640 have a shot at getting approved for the First PREMIER® Bank Mastercard Credit Card.

Unlike the Synchrony Premier, the Citi Double Cash requires redeeming rewards instead of offering automatic redemption. The Citi Double Cash offers one of the most impressive low APRs on the market for balance transfers. It offers a 0% intro for 18 months on Balance Transfers.