How It Works

How financing works at Synchrony

Discover the ways you can buy the things you want today, and pay over time with financing options that fit your needs.

How It Works

The financing process

Financing is a way of funding purchases without requiring payment of the full cost immediately. Though details like timeline and interest vary based on the type of financing and the specific terms, the process generally follows these steps.

1

Identify your goals

Think about what you want to achieve and select the financing option that best fits your goals.

2

Apply for financing

Many types of financing require an application. Some may offer the option to see if you prequalify first.

3

Upon approval, make your purchase

If you’re approved, you’re ready to start shopping. Use your new card or loan to finance your goods or services.

4

Repay and repeat

Pay back your borrowed amount and any applicable interest, according to the terms of your agreement, and, for cardholders, keep coming back for more.

What type of financing is right for me?

Select a category
  • Synchrony network cards
  • Branded credit cards
  • General-use credit cards
  • Installment loans

Learn about our financing options

We offer a variety of financing types. All credit cards and loans require an application, which may impact your credit score.

  Synchrony network cards Branded credit cards General-use credit cards Installment loans
Financing type Revolving credit Revolving credit Revolving credit Installment loan
Best for... Repeat purchases within a retail category Maximize shopping with your favorite brand Making purchases wherever you go One-time use on big-ticket items or everyday items
Use it... At any brand within that Synchrony network of brands; in person or online At the brand mentioned on the card; in person or online Anywhere Visa® or Mastercard® is accepted, depending on which logo is on the card; in person or online1,2 At the merchant that offers the installment loan
Funding type Line of credit you can borrow from multiple times Line of credit you can borrow from multiple times Line of credit you can borrow from multiple times One-time lump sum provided upfront
Credit check required? Yes Yes Yes Soft credit check for Pay in 4 and loans under $3,000; hard credit check for all others
Promotional financing available? Varies by card Varies by brand Varies by card Varies by brand
Rewards? Varies by card Varies by brand; if available, rewards can include points, travel miles, certificates, discounts, and/or other rewards Varies by card; if available, rewards can include cashback No
How promotional financing works

How promotional financing works

Certain financing options offer promotional financing, making it easier to pay for large purchases. Depending on the type of promotional financing, you may have the opportunity to select an option such as deferred interest or reduced interest.

Learn more about the different types of promotional financing or explore current offers on Synchrony Marketplace.

Explore promotional financing Explore Synchrony Marketplace

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Resources for cardholders

Take control of your account with our consumer resources for cardholders. See how you can go paperless, track your credit score, manage your account from anywhere, and more.

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Payment calculator

Financing is subject to credit approval.

1VISA is a registered trademark of Visa International Service Association and used under license.

2Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.