Synchrony Financing Information

Exterior Renovations must ensure that loyalty program terms are delivered to the consumer before the consumer's first transaction.

All consumers should be offered to apply for credit without regard to any basis prohibited by law. In addition, credit related activities cannot be conducted in an unfair, deceptive, or abusive manner. Discussions about the RetailerCredit program, including the offering of credit card applications, must be conducted in the same language as the account opening terms and conditions.

When a store associate is completing a credit card application via an interview style, all fields must be requested, even those that are not required. However, if a field is marked optional, such as email address, the store associate must not require that the consumer provide that information.

All completed consumer credit card applications must be submitted to Synchrony Bank for processing. System edits that can prevent an application from reaching Synchrony Bank are prohibited. (Applications are considered “completed” if the consumer has provided their name, address, Social Security Number/Taxpayer Identification Number or equivalent, date of birth, and income).

If systemic messages are provided to associates during the application process to contact Synchrony Bank, associates are required to comply with these instructions.

Consumers must understand that the account they are applying for is a credit card.

SYNCHRONY is a leader in consumer financial services with more than 85 years of retail heritage. Our consumer finance business is the largest issuer of private label credit cards in the U.S. and encompasses three sales platforms: Retail Card, CareCredit and Payment Solutions. Synchrony Bank also offers a range of FDIC-insured savings products directly and online. You’ll find more detailed descriptions below.

DISCLOSURES

The Truth in Lending Act and Regulation Z govern the disclosure of certain credit term disclosures to consumers. Regulations require that consumers receive the most recent version of the Synchrony Bank account opening disclosures, including Synchrony Bank’s privacy policy, in writing prior to the first transaction with their Synchrony Bank credit card. Consumers must receive and be given the opportunity to review the account opening disclosures prior to submitting the credit card application.

When a store associate is completing a credit card application via an interview style, all fields must be requested, even those that are not required. However, if a field is marked optional, such as email address, the store associate must not require that the consumer provide that information.

All completed consumer credit card applications must be submitted to Synchrony Bank for processing. System edits that can prevent an application from reaching Synchrony Bank are prohibited. (Applications are considered “completed” if the consumer has provided their name, address, Social Security Number/Taxpayer Identification Number or equivalent, date of birth, and income).

If systemic messages are provided to associates during the application process to contact Synchrony Bank, associates are required to comply with these instructions.

Consumers must understand that the account they are applying for is a credit card.

The consumer must be provided the application and account opening disclosures prior to beginning the application. If an electronic process is being used to capture the application, the consumer should confirm they have received the account opening disclosures before the process will allow the consumer to go forward with completing the applications. The consumer’s consent to submit the application should be captured either via a signature on a paper application or via an electronic method, such as confirmations by pressing a “submit” button to electronic signature on a pin pad. ../images of any pin pad or electronic screens used during the application process must be provided to Synchrony Bank for approval and Synchrony Bank must approve any changes to such screens.

The most current version of the Synchrony Bank credit card application and account opening disclosures must be provided in writing to the consumer at the POS and provided to consumers prior to submitting an application (including an electronic application) for a credit card. Out of date versions of the application and account opening disclosures cannot be used. Photocopies of current application and account opening disclosures cannot be used unless previously approved in advance by Synchrony Bank. A reliable process must be in place to replace all outdated applications and/account opening disclosures at the prescribed date and time as directed by Synchrony Bank. Confirmation of this swap out of account opening disclosures must be provided to Synchrony Bank. This Process must be followed for all application channels.

APPLICANT ELIGIBILITY

Consumers applying for the Synchrony Bank credit card must be at least 18 years old and also have the following:

For hearing/speech impaired applicants that do not possess a home phone, applications should be called in directly to Synchrony Bank for processing.

ACCOUNT STRUCTURE

Accounts are opened in a single and/or joint account-holders name. Joint accounts are available if both a primary and joint applicants desire to apply together as both are financially responsible as account owners. If during the application process but prior to submission of the application to SYF, either primary or joint applicant decide to no longer be listed as owner on that application, discard the application in a safe manner and obtain a new signed application with the primary only applicant.

Authorized users, including minors, may be added to an account. Authorized user –requests must be facilitated by Synchrony Bank.

CONSUMER IDENTIFICATION

For applications processed in-store, consumer (co-applicant consumer) identification must be checked/recorded. Retailer associates should record the ID type/Issuer/Expiration date. Synchrony Bank does not require or advocate the photocopying of consumer’s identification presented during the application process nor the documentation of the actual document number. Retailer should be aware and comply with federal or state laws related to the use of government issued identification.

INDENTIFICATION REQUIREMENTS

Identification is required when a customer applies for a new account and for existing accounts when a customer is conducting a Card Not Present (account lookup) transaction or when a customer is completing a sale with their card present but the transaction is key entered (keyed) rather than swiped or for in-store pickup. Identification must be checked and documented to prevent fraudulent transactions and charge backs resulting from fraudulent transactions. Synchrony Bank does not require or advocate the photocopying of customer’s identification presented during the transaction process. Retailer should be aware of and comply with all federal or state laws on this subject. For transactions where the consumer is not physically present at a Retailer location, Retailer may not require or ask the consumer to submit a copy of the consumer identification.

ACCEPTABLE FORMS OF IDENTIFICATION

PRIMARY ID (GOVERNMENT ISSUED ID):

• State Issued Driver’s License (Preferred)
• State Issued ID
• Passport
• Military ID
• Government issued Green/Resident Alien Cards

SECONDARY ID:

• Any acceptable primary ID
• Visa, MasterCard, American Express, Discover Card
• Department Store or Oil Company Credit Card

NON - U.S. PERSONS:

• Foreign Passport (include number and country of issuance)
• Government issued Alien identification card (Green Card) (include number and country of issuance)
• Government issued Visa travel documents if a picture is present on the Visa

REASONS IDENTIFICATION BECOMES INVALID

• Expiration date not recorded on application or sales draft
• Expired ID listed on application or sales draft
• Any identification not listed as an acceptable identification

ID requirements cannot specify the requirement of a photo.

The most effective way to prevent fraud is to “know your consumer”. If proper government identification is not reviewed, Retailer may be subject to chargebacks if the account is later determined to be fraudulent.

POWER OF ATTORNEY

In cases where a Power of Attorney is processing an application on behalf of the person they have Power of Attorney for, the Power of Attorney form must be reviewed and approved by Synchrony Bank by calling Credit Services prior to submission of the application.

APPLICATION INFORMATION

Retailer must ensure that a consumer is aware that the personal information they are providing is to apply for a Synchrony Bank credit card.

If Retailer offers additional sources of credit and use one application form, the process must ensure that consumers are notified the personal information they are providing may be shared by the retailer with one or more lenders or rent to own/lease provider companies. Consumer information that is collected that is not required by the Synchrony Bank credit card application must clearly be identified on the application. A consumer should not be prevented from applying for a Synchrony Bank credit card if they do not wish to apply for additional sources of credit.

Additionally, If Retailer offers rent-to-own/lease options, they should be aware of the following:

• Retailer should obtain consent from a consumer before forwarding the consumer’s personal information for consideration by a rent-to-own/lease provider
• Retailer should not pass a consumer’s income information from a Synchrony Bank credit card application to a rent-to-own/lease provider
• Retailer should consult their legal counsel for review of any application process involving multiple lenders and/or rent-to-own lease providers.

APPLICATION CHANNELS

All application channels must be reviewed and approved by Synchrony Bank prior to being put into place.

Changes to Retailer systems, including changes a third-party vendor may make, that could impact application processes must be fully tested to ensure critical disclosure and application submission processes have not be compromised.

Retailer must ensure that its application channels/processes are designed to meet the reasonable accommodations as required in the Americans with Disabilities Act.

Mobile device or Internet applications (if applicable) must be hosted by Synchrony Bank.

Retailer may not use third party vendors to host application websites, to take applications, or otherwise handle/use consumer information from credit applications without an approval from Synchrony Bank.

If Retailer wants to accept applications and transactions via any method other than in-store (e.g., telephone, Internet, Mobile application, etc.) they must obtain prior written approval from Synchrony Bank. These channels have unique regulatory requirements that must be met. See your Synchrony Bank representative for details.

If Retailer accepts credit application in English and Spanish, they must ensure that their systems provide the ability to send a language identifier to Synchrony Bank and provide application disclosures (written/electronic) required by law/regulation in the language that corresponds to the application.

APPLICATION DECISIONS

APPROVAL

Provide temporary shopping pass, if applicable, and advise the consumer they will receive their credit card in 7 to 10 days.

DECLINE

If the consumer is not approved, advise the consumer that we were unable to approve their application at this time and that they will receive a letter from Synchrony Bank within 30 days concerning their application. If the applicant asks why they were not approved, your only response is to advise them that they will receive a credit response letter in the mail. This letter is sent by Synchrony Bank.

PENDING/REFERRALS

A call referral is generated due to the need for additional information regarding the consumer in order to process the application. When calling in a referral, please have the consumer nearby as they may be asked to verify their information.

CREDIT LIMIT INCREASES

CONSUMER

Credit limit increases may only be requested by the primary or joint account holder holder. Updated income may be requested from the cardholder

DOWNTIME APPLICATION PROCEDURES

If Retailer is unable to process applications through its POS Terminals because of a systems problem, it should utilize Phone Express Processing (PEP) by dialing 1-800-333-1082 and follow the automated prompts to process the application. Paper applications must be filled out completely by the applicant. Account Opening disclosures provided, ID verified, and the application signed before processing an application using PEP.

If unable to process applications through the POS Terminals because of a Synchrony Bank system problem, contact Synchrony Bank at 1-800-333-1082 for further instructions.

PAYMENTS

Payments to account balances may be made by mailing a check or money order; over the phone through an automated system; or on-line through the Consumer Center website: https://www.mysynchrony.com/account.html. provided payments are made in US dollars from a bank located in the United States.

Rewards Certificates and Gift Cards may not be applied as a credit to a cardholder’s account.

Payments to account balances made in-store may only be accepted with prior approval of Synchrony Bank. Retailers that wish to accept payments at their physical locations (e.g., stores) for Synchrony Bank credit card accounts are acting as agents of Synchrony Bank and must meet the following criteria:

• Retailer must be able to identify the tender type used for every payment transaction
• Retailer must be able to meet data transmission requirements (specific coding and delivery to be communicated by IT and Compliance) and satisfy IT testing.
• Retailer must track receipt of cash and prepare currency transaction reports (CTRs/IRS 8300).
• Retailer must provide reasonable access to procedures/controls around currency transaction reporting.
• Retailer must not allow “Split Tender” (different payment methods) payment transactions.
• Retailer must not accept credit cards as a form of payment for Synchrony accounts.
• Acceptable types of payments are: Checks; Money Order/Traveler’s Checks; Cash; Debit Card; Electronic Funds Transfer/ACH; Wire Transfer.
• Payments may be made for any amount greater than $0.00

CONSUMER ACCOUNT SERVICING

Primary cardholders will receive an itemized billing statement monthly that includes a return address envelope for payments. The payment address can also be found by calling Cardholder Consumer Service. Consumer payments may be made by:

• Mailing a check or money order
• Over the phone through our automated system by calling Cardholder Consumer Service (a service fee may apply if speaking with a CSR).
• Online through https://www.mysynchrony.com/account.html.
• In-store where permitted

LOST OR STOLEN CARDS

Cardholders may report lost or stolen Synchrony Bank credit card 24 hours a day, seven days a week to Cardholder Consumer Service.

• If a consumer reports a lost or stolen Synchrony Bank credit card in a store and does not have the account number, perform an account lookup.
• Ask the consumer for valid identification for verification prior to calling Store Services to assist the consumer in reporting the card lost or stolen.