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).
- 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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Reviewed May 19, 2026
Stay away from them if possible!! I had an emergency veterinary appointment, and they offered a Care Credit card with only the option of 6 mo with 0 interest... Of course, I took it and planned on paying it off, but with over a $2K bill, unfortunately, I couldn't pay it off in 6 mo... Called to see if they would extend it, NOPE. After 6 months, it goes up to 33% of ORIGINAL bill. So I got a low-interest credit card to do a balance transfer...guess what? They don't do balance transfers! Said the new card had to send them a check. Never heard of such a thing, so I got a bank loan and paid Synchrony off in FULL...then the next month I see an email with a past due bill...??? I was charged interest AFTER I paid in full!! Never had any CC charge interest AFTER paying balance in full...so w/ a live agent on the phone I authorize that fee... balance paid in full.
This month I see ANOTHER email with a past due. Open it and I see the amount I paid last month is past due. So I got on live chat today and was told my bank account was closed and payment wasn't made..??? I look at my account on file, and there is ONLY 1 account...and it's current. Been making auto-payments from this account. It's NOT CLOSED! So again today I pay the fees IN FULL...so now have to wait for next statement to see if they AGAIN charge me fees because last month's fees weren't paid. Does anyone else keep looking at CC month after month when you've paid the balance in full??...SCAM...told the agent they are SNEAKY and I am pissed.
Reviewed May 14, 2026
If you are looking for a bank that has easy access to your money and values you as a client Synchrony Bank is probably not a good choice. Bought a car on Monday and the dealership wanted to be paid by check. Monday initiated an external transfer to Chase so that I could write a check. Transaction failed due to daily limit restrictions. Initiated another transaction for the daily limit amount.
Wednesday the remaining balance transfer does not appear so call Synchrony – speak to 2 different representatives and advised that until 1 transaction clears you cannot initiate another transaction. Thursday the initial transaction finally shows up at Chase. A week WOW. Everyone wants to wait a week for the partial amount.
Synchrony…where was my money for 48 hours? Are you floating money? When I do an external transfer from Chase to Synchrony the money is always there the next business day which is what I would expect in 2026 as this is a well-established account on both sides. Because in good faith I cannot ask the dealership to wait for 2 weeks to take delivery on the vehicle I was forced to have to pay for a wire transfer. Perfect time to also close the account permanently. Issue resolved! The rep could have cared less. Surprised but not surprised. It is not 1930 Synchrony….do better!
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Reviewed May 4, 2026
Bought a bed through a national brand with zero % interest for 5 years. Process to get into the account to setup auto payments was painful and not easy but got it done. First issue was the payment amount and the mattress company may have messed this up possibly as it was supposed to be $100/month but they ended up doing $200/mo instead. Wasn't a big deal but first issue.
Tried to get into the account February/March of this year and couldn't do it even with company assistance, so they said the best way to report the card as lost/stolen and they would issue a new card/account. Took them over 2 weeks to get me a card and by the time it got to me and getting logged in, it was after the payment due date and they tagged me for non payment and late payment charges. They wouldn't do anything about this other than forgive the late payment. One thing I did discover is they are charging interest on the whole amount even though my paperwork says 0% for 60 months. Going to fight this but the 0% seemed like a good deal and I should have just paid for the bed instead of using the bed company's good deal.
Reviewed April 30, 2026
The Sam’s Club credit card issued by Synchrony Bank is not compatible with Apple Pay or Apple Wallet, which is highly frustrating. Synchrony Bank made a big deal in early 2025 to add many of their credit cards to Apple Pay, but as of March 2026, still not the Sam's Club credit card, causing this credit card to lag far behind the current technology and coveted convenience for card holders. Per customer service, there are no current plans to add this credit card to Apple Pay.
As if that wasn't bad enough, Synchrony Bank’s Sam's Club credit card has a ridiculous and inexplicable policy, which is infuriating and unacceptable. They will arbitrarily put a freeze on your account, meaning all charges will be rejected, at any time, for no reason, with no notice, no warning, no communication. We have never missed a payment, never paid late, and never exceeded the credit limit. We only found out that charges were being rejected because I received an email about a rejected payment from a utility company that had auto-pay set up with this credit card.
When we called customer service, they couldn’t give us a reason; they just said that the credit agreement says they can put a freeze on the account at any time, for any reason, and yet couldn’t provide what the reason was, they never notified us, and had no qualms whatsoever about this policy / customer service tactic, completely unapologetic, and would not remove the freeze. So, we had to scramble to figure out all of our automatic payments scheduled to pay with the Sam’s Club credit card for the next 10 days & manually pay all of those bills with another form of payment so we wouldn’t be late. Of course, this policy and customer service is unacceptable and horrendous.
Reviewed April 27, 2026
Their policies in issuing 'branded' credit cards defies logic! My spouse has a Sam's Club credit card issued by Synchrony. As a small business owner, I am a long-time Sam's Club business member and my spouse is a 'complimentary' member. Rather than open up an entirely new credit card, we decided to contact the bank (Synchrony) to request an 'authorized user' credit card for me. Per Sam's and Synchrony, I am eligible to apply for/ receive a Sam's Club credit card. However, Synchrony DENIED the request for an authorized user card because I am the PRIMARY Sam's Club card-holder! Just how INANE is that?! They said to go to the Club to get this sorted out!
A manager at Synchrony blamed Sam's for the discrepancy, saying the refusal to issue authorized user cards is a Sam's policy -- that is highly doubtful! I think Synchrony is trying to needle people to open up more lines of credit with them! When we were on hold waiting for an agent, there was a recorded message asking if we wanted to give updated financial info to increase our credit line! Now I feel more inclined to kick Synchrony to the proverbial curb than I am to ask for any more credit from them! If it were possible to give them a Zero-Star review, I would!
Reviewed April 13, 2026
They closed my account and couldn’t give me a good reason. Never missed a payment and was never delinquent. Had a new credit card from a different bank in 15 minutes, which had better rates and better rewards. In the end Synchrony did me a favor.
Reviewed April 12, 2026
My Venmo credit card was denied and I got a text from Synchrony about verifying who I am. I responded that I wanted to resolve the problem and then received a phone call from a Synchrony phone center in India. They then sent me a link to do a video verification and and to send photos of my driver's license. The verification process seemed buggy and did not work. The video just kept recording and would not advance to the next step. The man on the phone said maybe the problem was our internet. I then tried turning off WiFi and then using cell service. Same result. Now I have to wait 7-10 days to get a letter from them.
Reviewed April 11, 2026
I’ve had more than one instance with Synchrony and would suggest if there’s any other alternative you choose them. I paid my account on time and off yet still they lowered my credit usage. I’m guessing due to the fact that I didn’t use them anymore. Would highly recommend someone else. Poor Service for attributes.
Reviewed April 10, 2026
Our Sam's club and jcp ccs have both experienced trouble with payments not being received, even with confirmation #s!!! It went so far as a fraudulent email sent forcing us to make ANOTHER PAYMENT. TWO PAYMENTS IN ONE MONTH!! Also had problems with Christmas gift cards never being received and still charged. Eric in customer service was of zero help...only escalating the stress for an 81-year-old man. Horrible experience.
Reviewed April 7, 2026
A zero bank. I had a card I barely used and never accrued interest. They cancelled my account on some really fishy stuff. Didn't mind seeing it go, but concerned about what is really going on with this bank.
Synchrony Financial Company Information
- Company Name:
- Synchrony Financial (formerly GE CareCredit)
- Website:
- www.synchronyfinancial.com
