If used strategically, a store card or store credit card can help boost your credit. In many cases, getting an approval is easier for these is easier than it is for other types of credit cards. Synchrony Bank is one of the leading providers of these types of cards which is just one reason they are the top choice of many people looking to improve their chances of credit score approval. Learn more about Synchrony Bank and the cards they offer below.
Easiest Synchrony Store Card Approval
While each store card offered by Synchrony brings something special to the table, the four listed below stand out as being some of the best options in terms of rewards and how easy it is to qualify. Let’s take a look at some of the benefits of each of these four options:
Synchrony Bank Amazon Store Card
You can buy just about everything on Amazon and with an Amazon card, shopping is not only easier but more rewarding—literally! The perks start the minute you’re approved with an Synchrony Bank Amazon gift card (usually around $20-$25). The card itself also comes with some financing options. For example, you can use it to finance a purchase of at least $149 and as long as you pay that in full within 6 months, you won’t pay a penny in interest. If the purchase is above $599, you have 12 months to pay it off without paying interest.
Sam’s Club Synchrony Bank Store Card
Unlike the amazon card, a Sam’s Club store card works like a regular credit card. You can use it anywhere. So you get the ease of credit score approval that come with store cards and the flexibility that comes with normal credit cards. Other perks of this card include cash back on certain, qualifying purchases like gas, dining out, and travel.
Walmart Store Card
This is a must-have for anyone who shops at Walmart on a regular basis. You get cashback on all purchases made at Walmart. Since you can get just about all the essentials from groceries and household supplies to clothing and electronics at their store, that will translate into a lot of cashback rewards.
Lowes Store Card
The Lowes store card is an especially great option for anyone looking to make some major renovations to their home. You could potentially finance your entire purchase with the Synchrony store card and enjoy an extremely low introductory interest rate that lasts as long as 84 months depending on the amount you spend. They also have a lengthy grace period of 23 days and no annual fee. So if you wanted, you could pay off your balance and then just leave the line of credit open without using it in order to keep your utilization rate low.
Tips for Fast-Tracking Your Store Cards Approval
Depending on your current credit score, getting approved may be easier or more difficult but no matter what your score, here’s some tips and information about the credit score approval process:
Find Out Your Credit Score
Checking your credit score these days is affordable, easy, and totally risk-free. Knowing what your exact score is right now will help you figure out exactly which cards you are most likely to qualify for.
If you get a detailed report, you’ll also be able to see exactly what is hurting your score the most so that you can start repairing the parts causing the most damage. For example, you might not have a lot of total debt but your utilization (the amount of credit used versus credit still available) might be too high. Requesting credit limit increases or opening new lines of credit that you don’t use would be a quick way to lower your utilization rate and boost your score.
Remember to Include All Your Income in the Application
A higher income can help offset a lower credit score. Of course, you can’t lie or manipulate the numbers to make your income look higher than it is. But any source of regular income you receive should be included. For example, alimony, financial aid grants (not loans), and interest earned on savings or investments are all income that comes in regularly. Gifts or one-time payments you receive, however, do not count.
Synchrony has dozens of store cards available. They each offer unique rewards and features. More importantly, they each have different approval requirements. For example, the Synchrony Lowe’s card mentioned above has some nice perks like low introductory interest rates and no annual fee. However, you will need at least fair credit (650-699) in order to qualify.
While shopping around, you need to compare both the perks offered and the criteria required to qualify. It’s not enough to just find the card that has everything you want. You have to do some give and take to find the card that has enough of what you want but is still within your reach based on your current credit score and financial situation.
Double Check Your Application
Even if you’ve got the best credit score, messing up on your application can lead to you getting denied. So make sure to fill out all the requested information carefully and then, before you submit, be sure to double check every single item to make sure it’s correct and complete. You don’t want a minor mistake on the form to be the one thing standing between you and the awesome perks of that store card! Whether you’re just trying to make your shopping experience more rewarding or looking for a good way to start building your credit, Synchrony Bank has some great options for just about every credit score. Start by looking into one of the cards mentioned above but if none of those meet your needs, they’ve got nearly 100 other cards to choose from so you will definitely find something that works for you!
Why Should You Use Store Cards from Synchrony Bank?
Synchrony Bank is a leader in the credit and store card market and they didn’t achieve this success by being bad at what they do. Here are a few of the main advantages that make Synchrony’s store cards stand out from the herd:
- Synchrony Bank store cards offer great benefits and rewards programs. While each one is unique, they all offer perks of some kind whether its store discounts, cash back, or low introductory rates.
- Store cards are great for rebuilding credit. While you still need to go through a credit check, the criteria for these cards is usually easier to meet than the stricter normal credit cards. So you can increase the amount of available credit and, as long as you don’t abuse it, put yourself back on the road to a great credit score.
- Shopping perks. If there’s a particular store you shop at a lot or one you plan on making a large, single purchase at—such as going to Lowe’s to get everything you need to totally remodel your kitchen—a Synchrony store card for that specific store can offer amazing benefits and saving opportunities. Store specific cards can usually offer better benefits than general credit cards because they are custom tailored to that store. So you can get cards customized to each store you regularly shop at in order to maximize your benefits.
Who Is Synchrony Bank?
Even if you’ve never heard of Synchrony Bank before now, you have probably seen their products. They are one of the main issuers of store cards and store credit cards. So if you’ve ever signed up for a rewards card or store credit card, there’s a good chance it was issued by Synchrony Bank.
Synchrony Bank has established a reputation for being safe and secure as well as offering great perks and rewards on their cards and accounts. Whether you want a card for one specific store or a credit card that you can use for all of your shopping, Synchrony Bank has something for you.
They have some of the most reliable credit cards available, including cards for just about every credit score. So if you’re worried about approval, you may be able to find something in Synchrony Bank’s product line.