Synchrony Premier World Mastercard review 2024: A simple, 2% cash-back credit card

The Synchrony Premier World Mastercard® * The information for the Synchrony Premier World Mastercard® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. earns at an-easy-to-please rate, but redemptions are inflexible. Our Synchrony Premier World Mastercard review explains what you need to know about this card.

Synchrony Premier World Mastercard basics

• Annual fee: $0.
• Welcome bonus: None.
• Rewards: Unlimited 2% cash back on purchases.
• APR: 19.24% to 32.24% variable APR on purchases and balance transfers.
• Benefits: Partner benefits with Lyft, Instacart and Peacock.
• Preapproval tool: None.
• Recommended credit score needed: Excellent.

Synchrony Premier World Mastercard review

The Synchrony Premier World Mastercard earns 2% cash back on purchases and your rewards will be automatically credited to your account each month. This card is worth considering if you prioritize simplicity in a rewards card over all else.

As a World Mastercard credit card, you’ll also get access to certain benefits with partners like Lyft, Instacart and Peacock. But Synchrony doesn’t provide notable perks beyond that.

Where it falls short is with its lack of either a welcome bonus or an introductory 0% APR promotion. Other 2% cash-back cards offer one or both of these attributes. If you’re looking for a way to earn some quick cash, look for a card that offers a welcome bonus. And, if you want to make a large purchase or transfer a balance and pay it off over time, you may want to look for a card with a 0% intro APR period.

Finally, although the Synchrony Premier World Mastercard keeps things simple with rewards, that’s not always a good thing when it comes to redemptions. With just one redemption option, this card offers less flexibility with how you can use your rewards.

Pros

• No annual fee: With no annual fee, you can save hundreds of dollars and improve your credit. 
• Unlimited cash back: Get 2% cash back on purchases with the Synchrony Premier World Mastercard. Cash back is unlimited and will be credited to your statement each billing cycle.
• Exclusive offers: On top of unlimited cash back, you have the opportunity to earn rewards and credit through partners like Lyft, Instacart and Peacock that are exclusive to credit card holders. 

Cons

• No welcome bonus: New cardholders won’t have the chance to earn a cash rewards bonus, which can range from $100 to $300 with other top cash-back credit cards after meeting a minimum spending requirement.
• No 0% intro APR promotion: It’s common for cash-back credit cards to offer a 0% introductory APR on purchases, balance transfers or both, so it’s disappointing that the Synchrony Premier World Mastercard skips this valuable perk.
• Limited redemptions: If you’re fine with a monthly statement credit, the card’s redemption limitation may not bother you. But if you want to save up rewards for a specific purchase or for other purposes, the card’s single-option approach may not work for you. 

Synchrony Premier World Mastercard rewards

The Synchrony Premier World Mastercard doesn’t offer a welcome bonus, but cardholders will get a flat 2% cash back on purchases they make. 

What’s more, they don’t have to worry about needing to jump through hoops to get the full rewards rate — some other 2% cash-back cards won’t give you the full amount unless you redeem your rewards a certain way or pay off your charges. 

However, the only way to redeem your rewards is for a statement credit, which Synchrony Bank does automatically each month. Similar cards may allow you to get a deposit into your bank account or a paper check or even allow you to redeem your rewards for gift cards, travel and other options.

Synchrony Premier World Mastercard rewards potential

Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for this card has $25,087 in expenses they are likely to be able to charge to a credit card. 

SPENDING CATEGORY	SPENDING AMOUNT	CASH-BACK RATE	CASH-BACK EARNED
All spending	$25,087	2%	$501.74
TOTAL	$25,087		$501.74

See MoreSee Less

Our sample cardholder earns roughly $501.74 in cash-back rewards every year using the Synchrony Premier World Mastercard. 

How the Synchrony Premier World Mastercard compares to other cash-back credit cards 

Synchrony Premier World Mastercard vs. Wells Fargo Active Cash® Card

The Wells Fargo Active Cash Card also offers 2% cash rewards on purchases, plus a $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening. Additionally, you’ll get an introductory APR on both purchases and balance transfers. When it comes to redeeming your cash back, Wells Fargo allows you to choose between statement credits, a deposit into a Wells Fargo checking account, a payment toward a Wells Fargo mortgage, cash back at an ATM or gift card purchases. This makes it a more versatile option than the Synchrony Premier. The Active Cash also offers cellphone protection when you pay your bill with the card (subject to a $25 deductible, up to two claims in a 12-month period), a feature the Synchrony Premier lacks.

Synchrony Premier World Mastercard vs. Chase Freedom Flex℠ * The information for the Chase Freedom Flex℠ has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

While the Synchrony Premier World Mastercard’s flat rewards rate makes things simple, it doesn’t allow you to maximize rewards on everyday spending categories. With the Chase Freedom Flex, you’ll get 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases. 

New cardholders can take advantage of a 0% intro APR for the first 15 months on purchases and balance transfers, then a variable APR of 20.49% to 29.24%. There is an intro balance transfer fee of either $5 or 3% of each transfer, whichever is greater, in the first 60 days. Then the fee is the greater of $5 or 5% of each transfer, as well as a $200 bonus after spending $500 on purchases in the first three months of account opening. The wide array of rewards categories with the Flex card, plus the welcome bonus make it likely to be a more rewarding card overall then the Synchrony Premier. Plus, the Flex offers cellphone protection, trip cancellation and interruption protection and extended warranty coverage. You won’t find those perks on the Synchrony Premier card.

Synchrony Premier World Mastercard vs. Bank of America® Travel Rewards credit card

If you’re considering a travel credit card, the Bank of America Travel Rewards credit card offers a flat 1.5 points per $1 on purchases. And, if you’re a Bank of America Preferred Rewards® member, you could get from 25% to 75% more points on your purchases depending on your status level in the program.

New cardholders will earn 25,000 points after spending $1,000 on purchases in the first 90 days of account opening, as well as an introductory APR on both purchases and balance transfers.

The Synchrony Premier World Mastercard is right for you if:

• You want simple rewards and automatic redemptions.
• You don’t care about a welcome bonus or an intro APR promotion.
• You aren’t seeking rewards you can use for travel redemptions.

Frequently asked questions (FAQs)