You can check for Synchrony Bankpre-approvalonline for certain credit cards by visiting the affiliated brand’s website before applying and filling out the required information. Generally, checking for pre-approval will help you assess your approval odds before submitting a credit card application. Just keep in mind that not all Synchrony Bank credit cards offer an online pre-approval tool. Plus, like all major credit card issuers, Synchrony Bank also mails pre-approved offers to certain people who appear to meet the criteria for one of its cards.
Generally, an online pre-approval tool allows consumers to gauge the likelihood of getting approved for a credit account before they apply. Pre-approvals use soft credit inquiries, so your credit score will not be affected. A pre-approved offer does not guarantee you’ll get the card, but it does mean you have an 80% - 90% chance of approval.
What to Know About Synchrony Bank Credit Card Pre-Approval
- Synchrony Bank allows potential applicants to check for pre-approval online for certain credit cards by visiting the affiliated brand’s website and filling out the required info before applying. Keep in mind that not all Synchrony Bank cards offer this feature.
- Synchrony Bank also pre-screens customers by using data compiled from three major credit bureaus: TransUnion, Equifax, and Experian. Plus, it mails prepaid offers to consumers who have at least fair credit (a credit score between 640-699).
- To receive a credit card after being pre-approved, you still need to apply. If you received a pre-approved offer, you can mail the application back. You may also apply online or by phone, depending on the card. In the case of a store card, you may also have the option to submit an application in person at the affiliated store locations.
If you receive a pre-approved credit card offer, make sure it is for a card you think would be worthwhile. Be selective and don’t apply in response to every pre-approval offer you receive. Getting pre-approved for lots of credit cards won’t hurt your credit, but applying for many of them in a short period of time can.
This answer was last updated on 07/17/24 and it was first published on 06/11/18. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
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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.
How do I check the status of my Synchrony application? ›
You can check your Synchrony Bank credit card application status online or by phone at (866) 419-4096. It should only take a few minutes to find out whether your Synchrony Bank application is approved, denied, or pending.
What credit score do you need for a Synchrony credit card? ›
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.
How do you find out if you're preapproved for a credit card? ›
There are a couple ways you can check if you're prequalified — on a card issuer's website or in person at a bank branch. Before initiating the prequalification process, you may want to consider looking at your credit score.
Is Synchrony Bank hard to get approved for? ›
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 are the disadvantages of Synchrony Bank? ›
The pros of banking with Synchrony include a top-tier high-yield savings account with a competitive interest rate and easy opening requirements, and a variety of CD terms and types. The cons of banking with Synchrony include no physical locations, no checking accounts, and limited services and products beyond banking.
How long does Synchrony take to approve? ›
Typically, you'll receive Synchrony Bank's decision on your application within 30 days. Many applicants are approved much sooner than that. If you haven't heard back within a reasonable time frame, you can always call customer service to ask about the delay.
Is there a class action lawsuit against Synchrony Bank? ›
A class action complaint has been filed against Synchrony. Among other things, the action alleges that Synchrony falsely represented that its consistent and disciplined underwriting practices had led to a higher quality loan portfolio than those of its competitors.
Is there a way to check on credit card application status? ›
Most credit card issuers also let you check your application status online. (In some cases, this is an option only if you applied for the card online.) To check your application status either online or by phone, you'll generally need to provide personal information, such as: Your name.
What FICO model does Synchrony Bank use? ›
Find out your score and how to improve it when you enroll in Synchrony's free credit score program with VantageScore®VantageScore® is a top credit scoring model used by many lenders when they consider whether or not to approve applications and deide what rates and terms to offer. .
With multiple Synchrony credit cards, you can also adopt WalletHub's Island Approach. That way, you can compartmentalize their use based on each card's strengths. Having more than one Synchrony credit card also helps lower your credit utilization, which in turn, improves your credit score.
Which credit bureau does Synchrony Bank use? ›
Synchrony Bank uses all three major credit bureaus (TransUnion, Equifax and Experian) in order to assess your creditworthiness.
Does it hurt your credit score to see if you're pre-approved? ›
No, because prescreened offers and pre-approval involve a soft inquiry. Also known as a soft pull or soft credit check, a soft inquiry doesn't affect your credit scores. The soft inquiry is simply a way for lenders to determine whether you may qualify for their credit card offer.
Can preapproved credit card be denied? ›
It isn't common, but a credit card issuer could deny your application even after sending you a pre-approved offer of credit. The exact reason for such a denial can vary from one applicant to the next.
What is the 5/24 rule? ›
Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.
What bank does Synchrony pull from? ›
Synchrony. Synchrony Bank will usually pull your Transunion credit report. See real-time data in our Credit Card Database.
How strong financially is Synchrony Bank? ›
Synchrony Financial has the Financial Strength Rank of 4.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors: 1. The debt burden that the company has as measured by its Interest Coverage (current year).
What is the credit rating of Synchrony Bank? ›
Fitch Affirms Synchrony Financial at 'BBB-'; Outlook Revised to Positive. Fitch Ratings - New York - 21 Apr 2023: Fitch Ratings has affirmed all of the ratings for Synchrony Financial (SYF) and Synchrony Bank (SYB) including the Long-Term Issuer Default Ratings (IDRs) at 'BBB-'.
