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Synchrony Premier World Mastercard® Review

Synchrony Premier World Mastercard® Review

Rewards Rate
2% cash back* on every purchase--no categories, tiers, or limits--no kidding.
Annual Fee
$0 Annual Fee
Security
Secure online and mobile app account access
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Synchrony Premier World Mastercard® best for?

Looking for a cashback credit card, but not eager to deal with rotating categories or different rates on different purchases? The Synchrony Premier World Mastercard® might offer the simplicity you’re looking for. It earns the same flat rate on every purchase and charges a Synchrony Premier World Mastercard® annual fee. However, it doesn’t offer a 0% intro APR or a sign-up bonus, so we’ll also consider other cashback cards that might suit you better if you’re looking for either of those features.

Synchrony Premier World Mastercard® overview

    • 2% cash back* on every purchase--no categories, tiers, or limits--no kidding.
    • No annual fee*
    • $0 fraud liability
    • Secure online and mobile app account access
    • Use your Synchrony Premier card on everything from gas and groceries to your next splurge with the confidence that comes from getting great rewards without complex math or shifting reward limits.
    • Plus, you'll also gain access to additional key benefits like identity theft protection, money-saving discounts, and concierge travel planning support.
  • Credit needed:
    720 850
    Excellent
  • Pay for Lyft with this card and get a $5 monthly credit
  • Save 5% on each Hello Fresh box that you purchase
  • $5 off your first two DoorDash orders (until Sept. 30, 2022, while supplies last)
  • Three free months of DashPass ($9.99 membership per month after that)
  • ID Theft Protection

Intro Purchase APR

N/A

Regular Purchase APR

16.99% - 29.99% Variable

Intro BT APR

N/A

Regular BT APR

16.99% - 29.99% Variable

Annual Fee

$0

Cash Advance Fee

$10 or 5% of each cash advance, whichever is greater

Foreign Transaction Fee

3%

Balance Transfer Fee

N/A

Pros and cons

Pros

  • Flat-rate cash back
  • Cell phone protection
  • No annual fee
  • Potentially low APR

Cons

  • Doesn’t have an intro APR period
  • Lacks a sign-up bonus
  • Charges a foreign transaction fee
  • Restrictive cash back redemption

What we like about the Synchrony Premier World Mastercard®

  • Earn cash back on every purchase

    Synchrony Premier World Mastercard® cardholders earn 2% cash back* on every purchase--no categories, tiers, or limits--no kidding. This flat rate is competitive with some of the top cashback credit cards on the market, and the straightforward earning structure is ideal for consumers who don’t like activating categories or getting different rates on different types of purchases.

  • Enjoy cell phone protection

    Pay your cell phone bill with this card and enjoy peace of mind knowing you’ve got protection against damage and theft for up to $600 per claim. There’s a maximum of two claims per year and a $1,000 maximum reimbursement per year.

  • You'll pay no annual fee

    The annual fee for the Synchrony Premier World Mastercard® is $0.

  • Potentially low interest rate

    This card comes with a 16.99% - 29.99% variable APR. If you get the lowest rate, that’s very reasonable. We still don’t recommend carrying a balance from month to month, but if you have to do so once in a while, a low interest rate could help you save money.

    Note that you’re not guaranteed the lowest rate — and if you get the highest one, you could end up with some expensive interest charges. Paying off your card in full each month is the best way to avoid this.

What to watch out for with the Synchrony Premier World Mastercard®

  • You won't get an introductory APR

    Some competing cashback cards also come with 0% intro APR periods on purchases, balance transfers or both. If you need to make a big purchase and pay it off over time, or if you need breathing room to pay off debt transferred from another credit card, such an intro APR period provides a window when you don’t have to worry about interest charges.

    But the Synchrony Premier World Mastercard® doesn’t come with an intro APR offer, so you’ll start immediately at the regular purchase APR of 16.99% - 29.99% variable. To avoid incurring interest, it’s smart to pay off your card in full every billing cycle — or even on a weekly basis if your budget allows.

  • There's no sign-up bonus

    Many cashback credit cards will offer a sign-up bonus if you spend a certain amount on purchases within your first few months of having the card. The Synchrony Premier World Mastercard® does not offer a sign-up bonus.

  • Beware the foreign transaction fee

    The Synchrony Premier World Mastercard® charges a 3% foreign transaction fee. If you’re planning to travel abroad, leave this card at home and take one that charges no foreign transaction fee instead.

  • No flexibility in redeeming cash back

    With this card, you earn cash back when you make an eligible purchase, which will be applied to your account as a statement credit within two billing periods after you made the purchase.

    If you would normally redeem your cash back as a statement credit, this limitation might not bother you. But if you like the flexibility to redeem your cash back into your bank account or in exchange for gift cards, you might want to consider a different 2% cash back credit card.

Alternate cash back card

Compare it to the Citi® Double Cash Card – 18 month BT offer

| Disclosures
Citi® Double Cash Card – 18 month BT offer
Citi® Double Cash Card – 18 month BT offer
on Citibank's secure site
N/A
17.74% - 27.74% (Variable)
$0
Earn 2% on every purchase with unlimited 1% cash back when you
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.74% - 27.74%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
660 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

The Citi® Double Cash Card is one of the best-known 2% cash back credit cards around. Cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. There is also a long intro APR on balance transfers.

You’ll get an intro 0% for 18 months on balance transfers, after which a 17.74% - 27.74% (variable) APR applies. A year-and-a-half of no interest is an excellent window to pay off debt transferred from a non-Citi card, and after you’re done, this card is worth keeping in your wallet for its great flat rate on all purchases.

You can redeem cash back for the following options:

  • Statement credit
  • Direct deposit to a bank account
  • Check
  • Convert to Citi ThankYou points

Do note that you must make at least the minimum payment each month to earn the full cashback amount. If you pay late or miss a payment, you won’t earn the second half of that cash back.

The annual fee is $0 and the regular purchase APR is 17.74% - 27.74% (variable). Be aware that there’s a 3% foreign transaction fee, so this isn’t the best card if you’re planning a trip abroad.

Finally, if you don’t need as long a period of intro APR, another card worth considering is the Wells Fargo Active Cash® Card. You can earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months, and for rewards, earn unlimited 2% cash rewards on purchases.

You can redeem cash back with the Wells Fargo Active Cash® Card as follows:

  • Cover past purchases
  • Credit to a qualifying Wells Fargo account
  • Cash at an ATM (with a debit or ATM card)
  • Gift cards

Compare the Synchrony Premier World Mastercard® to similar cards

Comparison of four different credit cards
Synchrony Premier World Mastercard<sup>®</sup> Citi<sup>®</sup> Double Cash Card – 18 month BT offer Wells Fargo Active Cash<sup>®</sup> Card Citi Custom Cash℠ Card
Synchrony Premier World Mastercard® Citi® Double Cash Card – 18 month BT offer Wells Fargo Active Cash® Card Citi Custom Cash℠ Card
Read Review
Apply Now
on Citibank's secure site
Apply Now
on Wells Fargo's secure site
Apply Now
on Citibank's secure site
Rewards Rate
2% cash back* on every purchase--no categories, tiers, or limits--no kidding. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Earn unlimited 2% cash rewards on purchases Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.
Welcome Offer
N/A None Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Annual Fee
$0 $0 $0 $0
Intro Balance Transfer APR
N/A 0% for 18 months on Balance Transfers 0% intro APR for 15 months from account opening on qualifying balance transfers 0% intro APR for 15 months on balance transfers
Regular Balance Transfer APR
16.99% - 29.99% Variable 17.74% - 27.74% (Variable) 18.74%, 23.74%, or 28.74% variable APR 17.74% - 27.74% (Variable)
Balance Transfer Fee
N/A There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening. 3% intro for 120 days from account opening, then up to 5%; min: $5 5% of each balance transfer; $5 minimum.
Intro Purchase APR
N/A N/A 0% intro APR for 15 months from account opening 0% intro APR for 15 months on purchases
Regular APR
16.99% - 29.99% Variable 17.74% - 27.74% (Variable) 18.74%, 23.74%, or 28.74% variable APR 17.74% - 27.74% (Variable)
Card Details
Synchrony Premier World Mastercard® Citi® Double Cash Card Wells Fargo Active Cash® Card Citi Custom Cash℠ Card

Is the Synchrony Premier World Mastercard® right for you?

The Synchrony Premier World Mastercard® is a fine card for earning flat-rate cash back on every purchase. And with a $0 annual fee, we like that you don’t have to pay to carry the card.

However, competing flat-rate cashback cards, like the Citi® Double Cash Card or the Wells Fargo Active Cash® Card, might be better if you need an intro APR or want to earn a sign-up bonus — or if you simply want more flexibility in how you can redeem your rewards.

The information related to the Synchrony Premier World Mastercard® has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.