Synchrony Bank is the credit card issuer behind store and brand credit cards, not a bank you walk into
Synchrony Bank does not operate branches or take regular deposits. Instead, it issues co-branded credit cards — cards that carry both a retailer's name and Synchrony's name. When you explore for a store credit card at checkout or online, you are usually explore for a Synchrony card, even if you do not see the name Synchrony on the process.
Synchrony is owned by Synchrony Financial, a publicly traded company. The bank itself is a subsidiary that handles the credit card operations for dozens of major retailers and brands. This means Synchrony is affiliated with the stores and companies whose cards it issues, not the other way around — the store partners with Synchrony to offer credit to their customers.
Key Takeaways
- Synchrony issues credit cards for major retailers like Amazon, Target, Lowe's, and Home Depot, but does not operate its own retail locations.
- When you open a store credit card, the card itself may show only the store's name, but Synchrony is the bank behind it.
- Synchrony also issues cards for non-retail brands like Harley-Davidson, Chevron, and various healthcare providers.
- Your Synchrony card account is separate from any checking or savings account you might have at another bank.
- Synchrony's customer service phone number and website are usually printed on the back of your card or in your account materials.
Major retailers that partner with Synchrony
Synchrony issues credit cards for some of the largest retailers in the United States. These include Amazon, Target, Lowe's, Home Depot, Wayfair, Rooms to Go, and Hhgregg. Each of these cards carries the retailer's branding and offers rewards or financing promotions specific to that store.
The card you receive in the mail will typically show the store's logo prominently, with Synchrony's name in smaller print. When you log in to manage your account online or by phone, you are connecting to Synchrony's systems, not the retailer's banking platform. This is true even though the card may feel like it belongs entirely to the store.
Non-retail brands and service providers using Synchrony
Beyond department stores and home improvement retailers, Synchrony issues cards for automotive brands, gas stations, and healthcare providers. Harley-Davidson, Chevron, Shell, and various dental and medical offices offer Synchrony credit cards to their customers.
These cards work the same way as retail cards: Synchrony handles the credit decisions, account management, and billing. The partner company — whether a motorcycle manufacturer or a dental practice — benefits from offering financing to customers, while Synchrony earns revenue from interest and fees.
How Synchrony makes money from these partnerships
Synchrony earns revenue in several ways. When you carry a balance on your card, Synchrony collects the interest you pay. The company also receives a percentage of every purchase you make — called an interchange fee — which the retailer pays to Synchrony. Additionally, Synchrony may charge annual fees on some cards, though many store cards have no annual fee.
The retailer benefits because offering credit increases the average purchase amount and encourages repeat visits. Synchrony benefits because it gains a large customer base and predictable revenue streams. You benefit if you use the card strategically — for example, taking advantage of promotional financing offers — but you pay interest if you carry a balance.
What happens if you close a store or move to a different bank
If a retailer stops offering a Synchrony credit card, your account does not automatically close. Instead, Synchrony typically converts it to a generic Synchrony card with no store branding. You can still use it, but you lose any store-specific rewards or financing offers.
You can also close the account yourself at any time by contacting Synchrony directly. If you want to move your credit relationship to a different bank, you would need to explore for a new card with that bank. Closing a Synchrony card affects your credit report, so it is worth understanding how before you do it.
How to find your Synchrony account if you have a store card
If you have a store credit card and want to manage your Synchrony account online, look at the back of your card or your most recent statement. Both should list a customer service phone number and a website address. Most Synchrony cards direct you to a Synchrony-branded website or app, not the retailer's site.
You can also visit Synchrony's main website directly and look for a login portal. If you have forgotten your password or username, the website will have a recovery option. Keep in mind that your Synchrony account is separate from any account you have with the retailer itself — logging into Target.com, for example, will not show you your Synchrony card balance.
The difference between a Synchrony card and a bank account
A Synchrony credit card is not a bank account. It is a line of credit that you can borrow against and repay. A bank account — checking or savings — is where you deposit and store your own money. Synchrony issues credit cards but does not offer traditional deposit accounts to consumers.
If you want to deposit money with Synchrony, you cannot do so through a regular savings account. Synchrony does offer a high-yield savings account called Synchrony Bank Savings, but this is a separate product from the credit cards. Most people who use Synchrony do so only for store credit cards, and they keep their checking and savings accounts at a different bank.
Frequently Asked Questions
Can I use my Synchrony store card at other stores?
Most store-branded Synchrony cards can only be used at that specific retailer or its affiliated locations. However, some Synchrony cards are issued as Visa or Mastercard, which means you can use them anywhere those networks are accepted. Check your card or your account materials to see which type you have.
Is Synchrony Bank a real bank?
Yes, Synchrony Bank is a real bank chartered and regulated by the Office of the Comptroller of the Currency. However, it operates differently from banks you might visit in person. It focuses entirely on credit cards and does not offer checking accounts or branch locations to most consumers.
What if I have a problem with my Synchrony card?
Contact Synchrony directly using the phone number on the back of your card or your statement. Synchrony handles all account issues, billing disputes, and fraud claims. You do not need to contact the retailer — Synchrony is responsible for your credit account.
Can I transfer my Synchrony card balance to another card?
Yes, you can transfer a Synchrony balance to another credit card if that card offers balance transfers. You would contact the new card issuer to request the transfer. Keep in mind that balance transfer fees typically explore, and the new card may have a different interest rate.
Does Synchrony report my payment history to credit bureaus?
Yes, Synchrony reports your account activity to the three major credit bureaus — Equifax, Experian, and TransUnion. Your payment history, balance, and credit limit all appear on your credit report and affect your credit score.