Synchrony Premier World Mastercard® Review [2023]: Simple Cash Back

The Synchrony Premier World Mastercard provides 2% cash back on every purchase, but doesn’t offer much more.
Last updated Jan. 17, 2023 | By Ben Walker, CEPF | Edited By Melinda Sineriz

We may receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

The Synchrony Premier World Mastercard® is a cashback credit card that focuses on being simple and easy to use. There are no confusing rewards categories to worry about and you earn a valuable flat rate of 2% cash back on every purchase.

This type of credit card makes sense if you want straightforward cashback rewards and tend to have a wide variety of expenses. But you might look elsewhere if you want higher rewards rates in specific categories or if you like to have more card perks.

Let’s dig into the details of our Synchrony Premier World Mastercard review to see whether this card makes sense for you.

Unlimited 2% Cash Back on All Purchases

Synchrony Premier World Mastercard®

Synchrony Premier World Mastercard®

Synchrony Premier World Mastercard®

Current Offer

Unlimited 2% cash back on every purchase

Annual Fee

$0

Rewards Rate

2% cash back on every purchase

Benefits and Drawbacks

Benefits

  • Unlimited 2% cash back on every purchase with no categories to track
  • No annual fee
  • World Mastercard benefits such as cellphone protection

Drawbacks

  • No welcome bonus
  • No introductory APR offers
Card Details
  • Unlimited 2% cash back on every purchase
  • 2% cash back on every purchase

In this Synchrony Premier World Mastercard review

Who should get the Synchrony Premier World Mastercard®?

The Synchrony Premier World Mastercard makes sense if you want a single credit card in your wallet that works for all types of purchases. The Synchrony Premier provides an elevated rate of 2% cash back on every purchase, which is an above-average rewards rate compared with many other credit cards.

And if you like to keep things simple, you can just use the Synchrony Premier Mastercard for all your purchases rather than juggling multiple credit cards.

But this isn’t the card to use if you want to earn a welcome bonus or take advantage of an intro APR offer. The Synchrony Premier doesn’t provide many benefits, and the most glaring omissions are no welcome offer and no intro APR on purchases or balance transfers.

Card basics

Card type Cash back
Credit card issuer Synchrony
Credit card network Mastercard
Annual fee $0
Intro bonus None
Reward rate 2% cash back on every purchase
Recommended credit score Excellent
Foreign transaction fee 3%

Synchrony Premier World Mastercard® benefits and perks

  • Elevated rewards rate: Earn 2% cash back on every purchase. This beats out the base rewards rate on many popular rewards credit cards.
  • $0 annual fee: Don’t worry about an annual cost with this $0-annual-fee credit card.
  • Mastercard benefits: The Synchrony Premier doesn’t have amazing benefits, but you might find value with Lyft and Hello Fresh credits, as well as DoorDash perks. Cardholders could earn up to $5 in Lyft credits per month and get $5 off per month on DoorDash orders.

Drawbacks to the Synchrony Premier World Mastercard®

  • No welcome bonus: Credit card welcome bonuses are excellent ways to earn loads of points, miles, or cash back soon after account opening. But the Synchrony Premier doesn’t have a welcome bonus, which could make other cashback credit cards more valuable.
  • No intro APR offers: You won’t find any intro APR offers for purchases or balance transfers on the Synchrony Premier. For cards with these types of offers, check out our list of the best 0% intro APR credit cards.
  • Foreign transaction fees: You’re charged 3% in foreign transaction fees for making foreign purchases, which makes this a less-than-ideal travel credit card if you’re heading abroad. For better options, check out our list of the best travel credit cards.

Earning & redeeming cash back

Potential earnings in years one and two

Here's a look at how your cash back can add up with the Synchrony Premier World Mastercard®.

Remember, this is an estimation. The actual value will be determined by how much you spend.

Year one earnings: $670

Year two earnings: $670

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which looks at points earned via spending, the sign-up bonus, and the annual fee.

Keep in mind that you could get more value from this card by using its benefits, including its Lyft, Hello Fresh, and DoorDash perks.

Best ways to earn

Categories Rewards rate
Every purchase 2%

It’s easy to maximize your earnings with the Synchrony Premier World Mastercard, as you simply have to use your card for as many purchases as possible. Dining, groceries, travel, and any other qualifying purchase all earn the same 2% rate, so you don’t necessarily need more than one card in your wallet. This could make things simpler if you don’t like sorting between multiple credit cards.

Maximizing your redemptions

The Synchrony Premier World Mastercard doesn’t provide multiple redemption options for your cash back. Rather, your cash back is applied as a statement credit within two billing periods after an eligible purchase.

So if you make $1,000 in eligible purchases, you’ll receive $20 in cash back as a statement credit within two billing cycles. It’s not the most flexible rewards program, but it’s a simple and effective way to use your cash back.

Synchrony Premier World Mastercard® FAQs

What credit score do you need for a Synchrony Premier World Mastercard?

You typically need an excellent credit score to qualify for the Synchrony Premier World Mastercard. This is the highest credit score possible on the FICO scoring model, with a range of 800 to 850. If you don’t qualify for this credit card, consider some of the best credit cards for good credit.

What are the benefits of a World Mastercard?

Specific World Mastercard credit card benefits vary by credit card issuer, but could include:

  • Identity theft protection
  • Cell phone protection
  • Lyft credits
  • DoorDash benefits
  • Complimentary ShopRunner membership
  • Mastercard Global Services, including concierge services
  • Access to Mastercard Priceless experiences, including golf experiences and benefits

What is the interest rate for a Synchrony Premier World Mastercard?

The Synchrony Premier World Mastercard has an APR of 17.74%, 23.74%, or 30.74% (variable) and doesn’t provide intro APR offers on purchases or balance transfers. For cards with potentially better APR offers, check out our list of low-interest credit cards.

Other cards to consider

If the Synchrony Premier World Mastercard doesn’t seem like the right fit for you, compare credit cards to research credit card reviews and find a better credit card offer. Here are a few of our recommendations.

The Wells Fargo Active Cash® Card has a $0 annual fee and you earn 2% cash rewards on purchases, which is virtually the same as the Synchrony Premier World Mastercard. But the Wells Fargo Active Cash also provides intro APR offers, a generous welcome bonus, and cell phone protection.

Learn more in our Wells Fargo Active Cash review.

The Chase Freedom Unlimited® has a $0 annual fee and provides 5% cash back on travel purchased through Chase Ultimate Rewards, 3% cash back on dining and drugstore purchases, and 1.5% cash back on all other purchases. This card might make more sense than the Synchrony Premier World Mastercard if you spend a lot on dining and travel.

Check out our Chase Freedom Unlimited review.

Unlimited 2% Cash Back on All Purchases

Synchrony Premier World Mastercard®

Synchrony Premier World Mastercard®

Synchrony Premier World Mastercard®

Why We Like It

Unlimited 2% cash back on every purchase

See how these cards compare:

Wells Fargo Active Cash® Card
Wells Fargo Active Cash® Card
  • $200 cash rewards bonus after spending $1,000 in the first 3 months
  • Earn unlimited 2% cash rewards on purchases
  • Intro APR on purchases and balance transfers
  • $0 annual fee
  • Rates and fees
Chase Freedom Unlimited®
Chase Freedom Unlimited®
  • Earn an extra 1.5% cash back on all eligible purchases, on up to $20,000, in the first year
  • Bonus rewards on travel, dining, and drugstores
  • No annual fee
  • Intro APR on purchases and balance transfers

Author Details

Ben Walker, CEPF Ben Walker, CEPF, is a credit cards and travel writer at FinanceBuzz who loves helping others achieve their travel goals through financially sound decisions. For over a decade, he has been using credit card points and miles for the sole purpose of traveling the world. Ben is a Certified Educator of Personal Finance and has been featured in The Washington Post, MSN, Debt.com, and Finder.com.