Synchrony Premier World Mastercard® review: Flat-rate cash back contender?

The Synchrony Premier card offers a generous flat cash back rate without any added bells and whistles, so it can be a good card if you want a super-simple way to earn cash back without worrying about maximizing bonus categories.

Rewards: Unlimited flat cash back rate, simplified

You’ll earn an unlimited 2 percent cash back on all purchases with this card — no fussing about bonus categories, spending caps or meeting specific criteria to earn the highest rewards rate. 

This is typical of 2 percent rewards cards, so the Synchrony card isn’t breaking any new ground there, but it is arguably a slight improvement over the rewards structure on the Citi Double Cash® Card, another cash back card that offers up to 2 percent back with no rewards rate cap.

Although both the Citi Double Cash card and the Synchrony Premier earn up to 2 percent back, the Synchrony will grant your full 2 percent cash back earnings automatically as a statement credit within two billing periods of eligible purchases. The Citi Double Cash only earns the full 2 percent back when you pay your balance (you’ll earn 1 percent when you make a purchase and another 1 percent when you pay it off). 

And while Synchrony’s rewards program may be limited for cardholders who value redemption flexibility, it’s also especially simple: You won’t have to think much about your rewards at all. Simply use your card to make eligible purchases and cash back is automatically credited to your account within two billing cycles.

Annual fee: Access cash back without an ongoing annual fee

Like most 2 percent cash back cards, the Synchrony Premier does not charge an annual fee. You might see annual fees on rewards cards that are as high as $99, and it’s often the case that these rewards cards have rewards rates that are strikingly similar to what Synchrony offers with its Premier card.

The Capital One Venture Rewards Credit Card, for instance, charges a $95 annual fee (See Rates & Fees) and offers a flat rewards rate of 2X miles on all purchases. Depending on your redemption method, two Capital One Miles carry the same value as 2 percent of your dollar back — 2 cents. Granted, Capital One Miles can be worth much more with strategic redemptions, but that is anything but simple and you won’t see any real value with your credit card until you offset your annual fee with rewards earnings.

The Synchrony Premier gives you a chance to start accumulating value without an annual fee to offset your hard-won earnings.

Perks: Better than nothing?

You wouldn’t expect a broad perks portfolio on a card like this, but what it does offer is enough to bring peace of mind and some added savings. Mastercard’s ID theft protection could safeguard you from the worrisome scenario that your personal information is stolen, while its Priceless® Experiences, Travel and Lifestyle services can bring some exciting opportunities to take advantage of.

You might want another 2 percent cash back card if you want the first-year value that has become a novel fixture on some of the best rewards cards available. Welcome offers and intro APR periods are some of the most sought-after perks on a new credit card, and the Synchrony Premier misses the mark on both of them.

Intro APR: Skips intro rates

Introductory APR periods can help current cardholders with debt to transfer several hundreds of dollars worth of interest. They can also help new cardholders with a flurry of purchases manage mounting debt for a little over one year. A card that lacks either of these offers is already at a comparative disadvantage to other cards, but a card that lacks both is a lackluster financial product for cardholders who need debt management options.

If you’re interested in a card like this one, be sure that you don’t have any current card debt and you won’t be making any purchases that will make your expenses more hefty than your income. Otherwise, consider some of the best intro APR cards to help make 2025 the year you cut back on interest charges.

Welcome offer: Lacks first year value

You are missing out on at least $200 worth of first-year value with the Synchrony Premier card because it doesn’t have a welcome offer. You can find welcome offers on other cash back credit cards that only require you to spend $500 in your first three months, which puts the Synchrony card at a huge competitive disadvantage.

The Wells Fargo Active Cash® Card, the Capital One Savor Cash Rewards Credit Card and the Chase Freedom Flex®  are among some of the best credit cards with affordable welcome offer spending requirements. One of them is a top competitor in the 2 percent cash back card space. If you’re hoping to make the most of your credit card, skipping a welcome offer is not a good idea. You’ll need to spend about $835 each month for one year to earn the value of these other cards’ welcome offers with cash back earnings.

The Synchrony Premier card isn’t much different than other 2 percent cash back cards, but there’s plenty of room for improvement. The following cards are currently much better offers than the Synchrony card; you should consider both of them as you narrow in on your cash back card decision.

Like with any 2 percent cash back card, you’re likely to miss out on the boosted rewards rates for purchases in key spending categories like groceries, gas, dining and travel. Pairing the Synchrony card with a tiered rewards credit card can be a great way to maximize your credit card rewards strategy. 

Anyone can make a 2 percent card work in their wallet, but here are the people most likely to make this card a worthwhile addition to their card strategy.

The Synchrony Premier World Mastercard may be a good fit for people who want a simple cash back program that makes it easy to earn rewards without worrying about tiered bonus categories. Although the card lacks a welcome offer and intro APR, it can be a good addition to your wallet if you don't spend much and would not otherwise meet the spending requirement for a credit card bonus.

However, if you’re likely to spend $500 in your first three months with this card, a card like the Wells Fargo Active Cash will reward you with a $200 cash rewards bonus. You would need to spend $10,000 to earn the same amount of value with the ongoing rewards of any 2 percent cash back card, which gives any card with a welcome offer a clear advantage over the Synchrony Premier World Mastercard.