If you`re looking for a credit card with great rewards and benefits, you might consider checking out the Synchrony Bank credit card. However, before you apply, it`s essential to read and understand the cardholder agreement to make sure you know all the terms and conditions.
Here`s a breakdown of some key points in Synchrony Bank`s cardholder agreement:
Interest Rates
Synchrony Bank offers different interest rates depending on the card type you`re approved for. For example, the Synchrony Bank Mastercard has a variable interest rate of 16.24% – 23.24%, while the Synchrony Bank Visa has a variable interest rate of 15.24% – 23.24%.
Fees
Some common fees associated with Synchrony Bank credit cards include:
– Annual fee: Some cards have an annual fee while others are fee-free.
– Late payment fee: If you miss a payment deadline, you`ll be charged a late fee.
– Returned payment fee: If your payment bounces, you`ll be charged a returned payment fee.
Rewards
Synchrony Bank offers cashback rewards for the purchases you make using your credit card. The amount of cashback you earn depends on the card you have.
For example, the Synchrony Bank Mastercard offers 2% cashback on purchases made at gas stations and restaurants, while the Synchrony Bank Visa offers 3% cashback on the same categories.
Additional Cardholder Benefits
In addition to cashback rewards, Synchrony Bank offers other cardholder benefits, including:
– Fraud protection: If you notice suspicious activity on your account, report it to Synchrony Bank right away. They offer zero fraud liability, which means you won`t be held responsible for any unauthorized purchases.
– Extended warranty: Some cards offer an extended warranty on eligible purchases.
– Price protection: If you find a lower price on an item you purchased with your card, Synchrony Bank may refund the difference.
Overall, the Synchrony Bank credit card can be a great option for those who want to earn cashback rewards and take advantage of other benefits. However, make sure you read the cardholder agreement thoroughly and understand the terms and conditions before applying.