Synchrony Premier World Mastercard Review — Simplicity Meets Rewards


Some credit cards have complicated, multi-tier rewards programs and lists of perks and benefits longer than your arm. At times, it can feel like you need a special degree just to understand what they offer and how to maximize their value.

The Synchrony Premier World Mastercard is not that kind of credit card. It’s an extremely simple rewards credit card that earns 2% cash back on all eligible purchases and has some easy-to-understand non-rewards perks backed by Mastercard. What you see is what you get, no special degree required.

Of course, many savvy credit card users prefer complicated rewards programs and generous benefits lineups. If you’re among them, Synchrony Premier World Mastercard probably isn’t for you. But if not, take a few minutes to learn more about it.

What Is the Synchrony Premier World Mastercard?

The Synchrony Premier World Mastercard is a cash-back credit card. It earns unlimited 2% back on all eligible purchases and has no annual fee. It has a basic lineup of additional perks backed by Mastercard but no sign-up bonus or 0% introductory APR offer.

The Synchrony Premier World Mastercard is designed for people with good credit or better. It’s not for people in the process of rebuilding their credit and isn’t an appropriate first credit card.

What Sets the Synchrony Premier World Mastercard?

The Synchrony Premier World Mastercard has no really groundbreaking features. Its most notable points include:

  • Flat, unlimited cash back. This card earns unlimited 2% cash back on all eligible purchases, making it an ideal credit card for everyday purchases.
  • Potentially valuable Mastercard benefits. This card comes with some potentially valuable Mastercard-backed benefits, including a monthly $5 credit against eligible Lyft purchases and a complimentary three-month DoorDash DashPass subscription.
  • No sign-up bonus or 0% intro APR offer. The Synchrony Premier World Mastercard has no real incentives for new cardholders, which is a downside relative to some otherwise similar cash-back cards.

Key Features of the Synchrony Premier World Mastercard

Before you apply for the Synchrony Premier World Mastercard, make sure you understand its core features.

Earning Rewards

All eligible purchases on this card earn 2% cash back. There’s no limit to how much cash back you can earn, and your rewards don’t expire as long as your account stays open and in good standing.

Redeeming Rewards

Synchrony automatically redeems your rewards as statement credits to your account. Credits typically post within two billing cycles of the cycle they’re earned.

Mastercard-Backed Benefits

This card comes with some additional benefits backed by Mastercard:

  • $5 monthly credit against eligible Lyft purchases
  • Three-month complimentary DoorDash DashPass membership, with benefits like $0 delivery fee on eligible orders
  • Access to exclusive events and experiences through the Mastercard Priceless program (out-of-pocket costs may apply for tickets, food, and other aspects of participating opportunities)

Important Fees

This card has no annual fee. Other fees may apply, including for balance transfers and cash advances.

Credit Required

This card requires good or better credit. If your FICO score is significantly below 700, you’re unlikely to qualify.

Pros & Cons

These are the biggest upsides and downsides of the Synchrony Premier World Mastercard.

Pros

  • No annual fee
  • Unlimited 2% cash back on eligible purchases
  • Rewards automatically post to your account

Cons

  • No sign-up bonus
  • No way to earn more than 2% cash back
  • No 0% intro APR offer

Pros

The Synchrony Premier World Mastercard is a low-cost, easy-to-understand rewards credit card that’s straightforward to use.

  • No annual fee. With no annual fee, you pay nothing to keep this card around, no matter how much or how little you use it.
  • Flat, unlimited cash back. All eligible purchases on your Synchrony Premier World Mastercard earn 2% cash back. There’s no limit to how much you can earn.
  • Rewards automatically post to your account. Synchrony automatically redeems your rewards to your account each month. There’s no extra step involved and no chance of forgetting to redeem at all.
  • Potentially valuable Mastercard-backed benefits. While not outrageously generous, perks like a $5 monthly Lyft credit and three months’ complimentary DashPass add real value.

Cons

The Synchrony Premier World Mastercard has few benefits beyond its rewards program, which isn’t as generous as some competing cards’.

  • No sign-up bonus. This card has no spending-based sign-up bonus for new cardholders. Many competing no-annual-fee cash-back cards do.
  • No way to earn more than 2% cash back. Try as you might, your cash-back earnings top out at 2% with the Synchrony Premier World Mastercard. Some competing cards have 3% or 5% rewards tiers.
  • No 0% intro APR offer. This card has no 0% intro APR offer. That’s unwelcome news for anyone planning a big purchase soon after getting this card or looking to pay down an existing high-interest balance transferred from another piece of plastic.
  • Few perks beyond the cash-back program and Mastercard benefits. The Mastercard benefits are nice, but the Synchrony Premier World Mastercard has few other perks worth noting. 

How the Synchrony Premier World Mastercard Stacks Up

Before you apply for the Synchrony Premier World Mastercard, see how it compares to another popular 2% cash-back credit card: the Wells Fargo Active Cash Card.

Synchrony Premier Wells Fargo Active Cash
Sign-Up Bonus No Yes
2% Cash Back All eligible purchases All eligible purchases
Lyft Credits Yes, $5 per month No
Annual Fee $0 $0
0% Intro APR  No Yes, 15 months on purchases and balance transfers

The Synchrony Premier World Mastercard matches the Wells Fargo Active Cash card’s unlimited 2% cash-back rate and adds some attractive benefits on top, notably the $5 monthly Lyft credit. But Wells Fargo Active Cash is the superior card overall thanks to its sign-up bonus and 0% intro APR offers for new cardholders.

Final Word

The Synchrony Premier World Mastercard leaves very little to the imagination. It earns unlimited 2% cash back on all eligible purchases and automatically redeems rewards on users’ behalf. It has no annual fee and some appealing but not life-changing additional benefits.

If that’s enough to convince you to apply, have at it. Just know that there are more generous rewards credit cards on the market if you’re willing to seek them out.



Source link

Related post

    Leave a Comment