By Adam Jusko, ProudMoney.com, email@example.com
I recently got a mailing from Synchrony Bank about their Synchrony Mastercard, a credit card offering 2% cash back on all card purchases. I had been aware that Synchrony had transitioned old Toys R Us/Babies R Us customers to this card (after Toys R Us went kaput), but had never seen it advertised as a card you could apply for directly. Now Synchrony is offering it to some potential cardholders by mail only. (You won’t find an online application as of this writing; the invitation directs you to mastercard.synchrony.com, but you need an authorization code from the mailer to apply.)
No Annual Fee and Competitive Cash Rebate
The Synchrony Mastercard has no annual fee, and its 2% “flat” cash back rate on all purchases is competitive with the Citi Double Cash card, often thought of as the standard-bearer for flat cash back cards on the market. (Very few credit cards will give you 2% on all purchases; most have a lower cash-back rate or give higher rebates in only certain purchasing categories like gas, groceries, etc.)
The cash back you receive is automatically given as a statement credit, meaning it is credited to your account to offset charges you’ve made to the card. You don’t have the option to actually get the cash in your hand.