Synchrony Financial Reviews
formerly GE CareCredit
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About Synchrony Financial
Synchrony Financial is an FDIC-insured bank that partners with companies to offer payment solutions. Synchrony provides customers access to credit that can be customized per the customer's needs, including CareCredit, which allows individuals to access medical financing easily. Synchrony also offers a wide range of MasterCard credit cards and retail-partnered credit cards, as well as savings and money market accounts with high annual percentage yields (APY).
Visit www.synchrony.com- No account minimums for savings
- High APY
- 0% promotional financing
- No checking account
- No physical bank locations
- No cash deposits
Helpful Reviews
What is Synchrony Financial?
Founded in 1988, Synchrony Financial provides a range of credit products through retailers and medical offices. Through its Synchrony Bank division, it also offers deposit products, including certificates of deposit (CDs), savings accounts and individual retirement account (IRA) options. Currently, Synchrony has over 72 million active customer accounts. The most common place to see Synchrony is through its credit card partnerships.
Some features of Synchrony include:
- No account minimums or fees for savings and CDs
- Select retailers offer 0% promotional annual percentage rate (APR) on purchases
- Specialized medical and veterinary financing for costs not covered by insurance
How Synchrony Financial works
Depending on which Synchrony Financial service you want to use, the process will be different. For credit cards and CareCredit, you will apply directly through the retailer or your medical, dental or veterinary office. Each retailer or business might have its set terms and rates, but generally, individuals with a credit score over 620 and solid income have a good shot at being approved.
Synchrony Bank products can be applied for online directly through Synchrony’s site. To apply for a new savings or money market account or CD, you will need to provide your full name, address, date of birth and Social Security number. You might also be asked for further information to prove your identity.
Once you have an account with Synchrony, you will be able to access and manage it online or through the mobile app.
Synchrony Financial products and services
Synchrony Financial is not a traditional bank that offers checking and savings accounts for customers. Instead, it offers three types of financial services.
Credit cards
CareCredit
Savings products
Synchrony Financial fees
Synchrony Bank does not charge any account fees or require accounts to have a minimum balance. However, accounts left at $0 for 60 days or more can be closed by the bank.
Some fees you might incur through Synchrony’s services include:
- $25 to send a wire transfer
- Late fees for credit cards and CareCredit
- Deferred interest costs for balances not paid in full by the end of the promotional period
While Synchrony does not charge ATM fees, the ATM owner or operator might. You might be eligible for reimbursement of up to $5 in ATM fees per statement cycle unless you have Diamond status in the Perks Rewards program; if so, Synchrony will cover unlimited ATM charges.
FAQ
Does Synchrony Bank have a physical location?
Synchrony Bank has corporate locations but it does not have any brick-and-mortar banking locations to help customers with account needs. A chat agent is available 24/7 through the site or mobile app once you are logged in.
Does Synchrony Financial use Zelle?
With Symphony, you can select Zelle from the payments menu within your savings account.
Where is Synchrony CareCredit accepted?
CareCredit is accepted at hundreds of thousands of locations, including Walgreens, Walmart and Sam’s Club. Many doctors, dentists, veterinarians and health offices use CareCredit, and you can always ask if CareCredit is accepted before starting services. Synchrony also has a convenient look-up tool that allows you to search for businesses in your area that accept CareCredit financing.
Still have questions?
Is Synchrony Financial legit?
Synchrony Financial is a legitimate, FDIC-insured bank that has been servicing clients since 1988. The federal government insures accounts up to $250,000 per user, and Synchrony has managed over $62 billion in deposits through its CDs and savings and money market accounts. It has over 100 retail partners, including well-known companies like Amazon, Marshalls and Sam’s Club that use Synchrony for co-branded cards.
Synchrony Financial Reviews
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- 4,935,298 reviews on ConsumerAffairs are verified.
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- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Reviewed Aug. 4, 2026
I'll keep it short. I will never do business with Synchrony Bank ever again. 7 years always on time payments, one missed payment, honest error too, 9000,00 limit, only owed 121.00. Lowered my credit limit to 100 dollars then hit my credit score 85 points then next month did a review of my account after they stole points from then did it again on different card. Lowered my rate by 8000.00. This is crazy so because I missed one payment and account is paid off and 160 point off my credit score. So crazy. How can they get away with this.... Never again guaranteed. Guess capital one will get all my business now. Unless I get a call and this gets resolved!!!!
Reviewed Aug. 2, 2026
Paid for purchase and charged twice. Got a credit for over payment and told my account had zero balance. Then got rebilled for same thing 4 1/2 months later and also was billed for returns that had been returned and they told me they couldn't do anything about and I would have to pay for it again. Anyway I've used PayPal for many years and never had a problem till Synchrony took over. I am paying off my account tomorrow and canceling my account with them and want to warn everyone about them and don't use PayPal credit through synchrony unless you want to pay for things twice and not get credited for things you returned and pay for them to and again I warn ⚠️ you and if you do get it watch your account very closely so you can catch it quickly and hopefully it doesn't happen to you.
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Reviewed July 30, 2026
Got a letter stating my account was closed due to the fact that I wasn't able to make payments. Had account 7 plus years, never missed a payment when there was a balance. Never maxed out card.
Reviewed July 29, 2026
Synchrony bank is a loan shark company. If I could rate them NEGATIVE stars I would. They do not care for their customers and are all about taking your money. Their 'free credit for X years' is a total scam. I signed up and used auto pay thinking their tool would set me up to pay it off in X years. Unfortunately, it did not give me an option to choose other than minimum payment.
Much to my surprise after X years, I was charged 30% interest thinking autopay would pay off my bill in 2yrs. After chatting with customer support and 2 live call agents, they read me the same script over and over. I was treated HORRIBLY by both chat and call agents. One of them even yelled at me (I was upset as well). They could 'do nothing to help me'. I was on AutoPay and had not missed a payment, but they were unwilling to help and led on that its my fault, so too bad for me. TRUE LOAN SHARKS. DO NOT USE THEM. AVOID THEM AT ALL COST OR YOU WILL PAY IN THE END.
Reviewed July 28, 2026
Please read this and heed the warning. I was with Synchrony for almost 10 years, with that being said, my cards overall averaged out to a $180,000.00. Just with the five cards with Synchrony, those averaged $60,000.00. So my overall usage was at 1%, which is excellent. All my cards have been paid way in advance. Never paid one minimal due amount so they decided that I was deemed a high risk. No matter how good my credit score was, how good my payments were. And how good I kept all my balances onto the bare minimum.
On usage, so they decided to close five of my cards that belonged to them. Was there any warning and ruined my credit, my credit score dropped 80 points plus now I'm showing 5 accounts closed due to high risk. When I spoke to them, I asked them to define high risk. Is someone that uses 5,000 or 15,000 on their credit cards?
When I asked him to review all my credit cards under Synchrony, he said "You only 200 out of 60,000" and I'm a high risk. It took 13 years to fix my credit to get it up to a 790, only for them to turn around and do what they did. It costs me 80 points, unreal, empathetic. So my advice to you. If you're reading this, stay away from Synchrony, they even had the nerve to tell me, if I want, I can reapply in 3 months. I told them all to go jump off a bridge head. First, I will never, ever deal with Synchrony. Credit cards ever again? I would have known never gonna do this to me. I would have never gotten one, so please heed the warning: stay away from them.
Reviewed July 15, 2026
Absolutely horrible customer service terrible and hidden fees. Can pay your balance in full and they throw in other charges.
Reviewed July 6, 2026
Their customer service is absolutely horrible! They don’t CLEARLY understand what your issues are, so they don’t CLEARLY address what your issues are, therefore your issues are NEVER properly addressed! So glad I’ve paid this card off, and I NEVER plan to use it ever again!!! Horrible service and horrible interest rates!!!
Reviewed July 1, 2026
I financed a $2,000 purchase through Ashley Furniture with Synchrony Bank. At the time of purchase, I was clearly told I would have two years with no interest. After only one year, Synchrony began charging me 30% APR, which caused my balance to barely decrease even though I have already paid $1,300. My current balance is still $1,592 due to excessive interest charges. When I called Synchrony to offer a lump‑sum settlement, they refused and provided no assistance or hardship options. This feels extremely unfair and predatory, especially since the original financing terms were not honored. I am paying off the balance to end this situation, but I want others to know how misleading and expensive this financing program can be. I would not recommend using Synchrony Bank for financing, and Ashley should not partner with lenders who treat customers this way.
Reviewed June 29, 2026
I rarely leave one-star reviews, but this experience has been unacceptable. I disputed a $109.09 Walmart purchase after Walmart could not locate the transaction or provide a receipt. Walmart instructed me to work with OnePay and Synchrony. The problem is that Synchrony confirmed a dispute exists, yet I cannot log in to view it, monitor its status, or communicate through the dispute portal. The OnePay app shows no dispute at all. When I contact customer service, I receive conflicting information depending on who I speak with.
As a customer, I have no visibility into a dispute involving my own money. I cannot verify its status, obtain updates, or even confirm that it is progressing normally. The issue isn't just the disputed transaction. It's the complete lack of transparency and the inability to access information about my own account. Customers should never be left wondering whether a dispute even exists while waiting weeks for a resolution. Synchrony and OnePay need a much better process for communicating with customers and providing access to dispute information.
Reviewed June 23, 2026
Closed three cards saying high risk. Had a 794 credit score and never missed a payment. One card was Lowe's I had for 9 years. This lowered my credit score to 733. I will finish paying off and never use them again. Don’t waste your time unless you want to hurt your credit score.
Synchrony Financial Company Information
- Company Name:
- Synchrony Financial (formerly GE CareCredit)
- Website:
- www.synchrony.com
