Good afternoon everyone, I hope you had a great weekend. Last week, I received my new Synchrony Premier Credit Card in the mail. This credit card used to be the Rakuten Visa Credit Card, but was automatically converted to the Synchrony Premier Credit Card. Usually, when a credit card is converted / product changed, there is no sign up bonus or new member bonus, but Synchrony was offering cardholders a $100 statement credit after spending $1,000 in 3 months. In this post, I will share the email, welcome letter, and sign up bonus posting details. Here is the front and back of the credit card.
Here is an email from Synchrony last month stating that the new credit card would arrive soon and reminding me about the $100 statement credit.
Here is the front and back of the welcome letter that came with my new credit card.
Here is the front and back of another letter that explains how the product change worked and has some FAQs.
As luck would have it, I made $1,005 in purchases the day the credit card arrived and my first credit card statement closed 3 days later. I earned 2% cash back on the $1,005 = $20.10 + the $100 statement credit = $120.10 toward my bill. When my first credit card statement closed, the cash back and statement credit were automatically applied to my account.
I was surprised that my first credit card statement only covered 3 days, but that was long enough for me to make $1,005 in purchases. I liked that the cash back and statement credit automatically applied to my account. I just paid this credit card bill but don’t anticipate using this credit card anymore since I would rather earn 2x on my American Express Blue Business Plus Credit Card or Citi Double Cash Credit Card since those points can be transferred to airlines and hotels for more value.
If you have any questions about this credit card or the sign up bonus, please leave a comment below. Have a great day everyone!
This “World” Mastercard assesses a 3% foreign transaction fee, unfortunately.
Dang, that is dumb. Thanks for point that out. Well, my card won’t be going anywhere fun other than my desk drawer to live with the other unused credit cards.
Will you close it?
Hi Miles, no, I don’t think there is really a need to close a credit card with no annual fee. My hope is that Synchrony includes me in future spending promos, but we will see.
Since this is a new account number, are we sure that it is an actual product change vice showing up as a new account, thus impacting 5/24 status?
I haven’t received any notification from credit monitor services that a new account is showing up on my credit report. Have you seen anything from your side?
I got this card by way of having the Toys r Us store card then when they closed the stores they gave a welcome bonus of $250 credit after $500 spend. Needless to say haven’t used them since. I guess that’s probably why I didn’t get This letter.
Hi Deva, this letter came after the Rakuten Credit Card was product changed. I didn’t have the Toys R Us Credit Card so I’m not sure what letter came when that credit card was product changed.