Money Analysed

Simplify Your Rewards with the Synchrony Premier World Mastercard

Introducing the Synchrony Premier World Mastercard: Your Single Credit Card Solution for Straightforward Cashback Rewards

Are you looking for a credit card that provides elevated rewards rates without complicated rewards structures or multiple cards to juggle? If so, the Synchrony Premier World Mastercard might be the credit card you’ve been searching for.

This credit card offers a straightforward cashback rewards program that provides an elevated rewards rate, making it easy and simple to use.

Features and Benefits

The Synchrony Premier World Mastercard provides an impressive rewards rate on all purchases. Cardholders receive a 2% cashback on every purchase they make, with no categories to worry about.

There are no limits on how much you can earn, and your cashback rewards never expire. In addition to elevated cashback rewards, the Synchrony Premier World Mastercard also offers several Mastercard benefits.

Cardholders receive protection from unauthorized purchases, extended warranties on eligible items, and Mastercard ID theft protection at no additional cost. For those who frequently use ride-sharing and food delivery services, the Synchrony Premier World Mastercard also offers unique perks such as Lyft credits and discounts on DoorDash food delivery.

The Synchrony Premier World Mastercard charges an annual fee of $95. However, this fee may be worth the rewards and benefits that the credit card provides, particularly if you use the card regularly.

Target Audience

The Synchrony Premier World Mastercard is best suited for those who are looking for a single credit card solution that provides straightforward cashback rewards. If you want a credit card that is easy to use and does not require extensive effort to earn rewards, this credit card could be a good fit for you.

The Synchrony Premier World Mastercard is an ideal choice for those who want to keep their finances simple and do not want to juggle multiple credit cards to maximize their rewards. For anyone who wants to earn elevated rewards rates with the convenience of just one credit card to track, the Synchrony Premier World Mastercard is worth considering.

Card Basics

The Synchrony Premier World Mastercard offers an elevated rewards rate of 2% cash back on every purchase, making it a standout option for those looking to earn cashback rewards on all of their transactions. Additionally, this credit card provides several Mastercard benefits that provide extra value and protection on eligible purchases.

Despite the many advantages of the Synchrony Premier World Mastercard, there are a few drawbacks to keep in mind. This credit card does not offer a welcome bonus, which could be a downside for those who are looking to earn a large sum of cashback rewards quickly.

There are also no intro APR offers, which may be a disadvantage for anyone looking for a credit card with a lower interest rate during an introductory period. Finally, it is important to note that the Synchrony Premier World Mastercard comes with foreign transaction fees.

Therefore, if you are planning to travel abroad, you may want to consider an alternative credit card that does not charge these fees.

Final Thoughts

The Synchrony Premier World Mastercard is an excellent option for anyone seeking a single credit card solution for straightforward cashback rewards. Its 2% cashback rewards rate on all purchases, Mastercard benefits, and unique perks for those who frequently use ride-sharing and food delivery services make it a standout choice.

However, this credit card does come with a $95 annual fee and foreign transaction fees, so it is important to consider these factors before applying. Overall, the Synchrony Premier World Mastercard could be the ideal credit card for those who want to keep things simple and straightforward, while continuing to earn elevated rewards on all their purchases.

Earning and Redeeming Cash Back with the Synchrony Premier World Mastercard

One of the highlights of the Synchrony Premier World Mastercard is its straightforward cashback rewards program. Cardholders earn an elevated rewards rate of 2% cash back on every purchase they make.

In this section, we’ll discuss how you can estimate your earnings, ways to maximize your rewards, and how to redeem your cash back.

Estimated Earnings

Using the FinanceBuzz Credit Card Rewards Valuation Model, we can estimate the earnings for the Synchrony Premier World Mastercard. If you spend $1,500 on the card each month, you would earn $360 in cash back rewards in the first year.

This estimate takes into account the $95 annual fee, which reduces the net earnings. In the second year, you can expect to earn $720 in cash back rewards when you continue spending $1,500 monthly.

Remember, these estimated earnings are based on a scenario where you use this card for all your purchases. If you have other credit cards that offer higher rewards rates for certain categories such as dining, groceries, or travel, it may be worth using those cards for select purchases to maximize your rewards.

Ways to Earn

The Synchrony Premier World Mastercard offers an elevated rewards rate on every purchase, making it easy to earn cash back rewards without having to worry about categories or caps. However, there are some additional ways to maximize your earnings.

One way to earn more rewards is to use the card for dining purchases. The Synchrony Premier World Mastercard offers a 2% cash back rewards rate on dining, which can add up if you eat out frequently.

You can also earn additional cash back rewards on groceries. If you shop at grocery stores that qualify as supermarkets, you can earn 2% cash back on those purchases.

However, keep in mind that not all grocery stores qualify, so it’s important to check before making your purchase. Finally, the Synchrony Premier World Mastercard offers unique earning opportunities with qualifying purchases including Lyft credits, DoorDash discounts, and vacation package credits through the Wyndham Rewards program.

Redemptions

Redeeming your cash back with the Synchrony Premier World Mastercard is simple and effective. You have the option to redeem your cash back as a statement credit or have it deposited into your bank account or PayPal account.

To redeem your cash back rewards, just log in to your account online and click on the “Rewards” tab. You can choose how to redeem your rewards and select eligible purchases to apply the cash back.

Synchrony Premier World Mastercard FAQs

Credit Score Requirements

To be approved for the Synchrony Premier World Mastercard, you’ll need an excellent credit score. According to the FICO scoring model, a score of at least 740 is considered excellent.

If your credit score is not quite to that level, you may want to work on building your credit before applying. However, there are some other credit cards available for those with good credit that could be worth considering.

World Mastercard Benefits

The Synchrony Premier World Mastercard offers several World Mastercard benefits, including identity theft protection, cell phone protection, a ShopRunner membership, Mastercard Global Services, and Mastercard Priceless experiences. Identity theft protection provides peace of mind by monitoring your financial information, alerting you to any potential fraud, and working with you to resolve any issues that may arise.

Cell phone protection provides coverage up to $600 in the event of damage or theft to your cell phone. To qualify, you must pay your monthly cell phone bill with your Synchrony Premier World Mastercard.

A ShopRunner membership offers free two-day shipping and free returns at participating retailers. Mastercard Global Services provides assistance when traveling, such as lost or stolen card replacement, emergency cash advances, and assistance with medical and legal referrals.

Finally, the Mastercard Priceless experiences program offers exclusive offers and experiences for cardholders.

Interest Rate

The Synchrony Premier World Mastercard comes with a variable APR, which can change based on market conditions. The APR for purchases ranges from 15.74% to 25.74%, depending on your creditworthiness.

If you have a balance on your card and carry it from month to month, the interest charges can add up quickly. Therefore, it’s recommended to pay your balance on time each month to avoid accruing interest.

Final Thoughts

The Synchrony Premier World Mastercard is an excellent credit card for those who want to earn elevated cashback rewards on all their purchases. With a straightforward rewards structure and additional perks, it can be a great choice for anyone who wants to simplify their finances while still earning rewards.

However, it is important to consider the annual fee and variable APR before applying for this credit card. If you do decide that the Synchrony Premier World Mastercard is the right option for your financial goals, be sure to make every purchase count to maximize your cash back rewards.

Other Cards to Consider: Alternatives to the Synchrony Premier World Mastercard

While the Synchrony Premier World Mastercard is an excellent credit card for earning elevated cashback rewards, there are also other options worth considering. Here are two other credit cards that might fit your spending habits and financial goals.

Wells Fargo Active Cash Card

The

Wells Fargo Active Cash Card is an alternative to the Synchrony Premier World Mastercard, with a few key differences in rewards and features. For one, the

Wells Fargo Active Cash Card has no annual fee, making it an attractive option for those who want to earn cash back rewards without incurring any additional charges.

Additionally, the

Wells Fargo Active Cash Card offers a 2% cash rewards rate on all purchases, just like the Synchrony Premier World Mastercard. However, the Active Cash Card also provides a $200 welcome bonus after spending $1,000 within the first three months of account opening, which can jumpstart your cashback rewards earnings.

Another advantage of the

Wells Fargo Active Cash Card is its intro APR offers. New cardholders receive an introductory 0% APR for the first 15 months on purchases and qualifying balance transfers.

This can be a valuable opportunity to finance a large purchase or pay off high-interest debt without accruing additional interest charges. Lastly, the

Wells Fargo Active Cash Card provides cell phone protection with a maximum benefit of up to $600 per claim if a covered loss or damage occurs to your phone.

To qualify, cardholders must pay their monthly cell phone bill with their card.

Chase Freedom Unlimited

The

Chase Freedom Unlimited is another credit card option worth considering, particularly if you are looking for a card that offers additional bonus categories for earning rewards. The

Chase Freedom Unlimited offers 5% cash back on Chase travel purchased through Ultimate Rewards, 3% cash back on drugstore purchases, and dining at restaurants, and unlimited 1.5% cash back on all other purchases.

If you use the

Chase Freedom Unlimited for travel purchases, you can earn 5% cash back, which is a higher rewards rate than the Synchrony Premier World Mastercard or the

Wells Fargo Active Cash Card. Additionally, the bonus categories of dining and drugstores can add up if these are areas where you spend regularly.

Finally, the

Chase Freedom Unlimited also provides the opportunity to transfer points earned to other Chase Ultimate Rewards cards, such as the Chase Sapphire Preferred or Reserve, for more valuable redemption options. This flexibility can be helpful for maximizing the value of your rewards.

Final Thoughts

While the Synchrony Premier World Mastercard is an excellent credit card option for earning elevated cashback rewards on all purchases, it’s important to consider other options as well. The

Wells Fargo Active Cash Card provides a $0 annual fee option with a welcome bonus and intro APR offers, while the

Chase Freedom Unlimited offers additional bonus categories for earning rewards.

Be sure to compare the rewards rates, fees, and features of each credit card to determine which option is the best fit for your spending habits and financial goals. Credit card rewards programs can be a valuable tool for maximizing your spending and earning cashback rewards.

The Synchrony Premier World Mastercard offers a straightforward 2% cash back on all purchases, making it an excellent option for anyone looking for a simple and easy-to-use rewards program. However, other credit cards such as the

Wells Fargo Active Cash Card and

Chase Freedom Unlimited may offer different benefits and rewards structures that better align with your financial goals.

It’s important to consider various options for credit cards to find the best fit for your spending habits. Ultimately, using a credit card with a rewards program tailored to your needs can help you maximize the value of your purchases and earn cash back rewards over time, while being responsible about your finances.

Popular Posts