The Synchrony Bank is an award-winning financial institute in the United States. Initially, the bank started its operations in 1988. Moreover, they provide Certificates of Deposits, Money Market Accounts, Savings Accounts, etc. Midas Synchrony Credit Card is also another product of the bank’s Portfolio. Unfortunately, the card does not hold Visa or MasterCard benefits. On the other hand, Midas is a store credit card.
Besides, the Headquarters of the Synchrony bank located in Draper, Utah, United States. Synchrony Financial and GE Capital are the parent organizations of the bank. Furthermore, Asset Management Arm, Synchrony Lending Inc., Ralfi SA, Cash Works Incorporation are the subsidiaries of Synchrony.
Midas Credit CardRates and Fees
- The Annual Fee for the Midas credit card is zero.
- The Balance Transfer Annual Percentage Rate is not applicable for the card.
- The Purchase Annual Percentage Rate is applicable up to 29.99%.
- No Purchase Intro APR (Annual Percentage Rate) is available for the card.
- The Penalty Fee for the Returned Payments and the Late Payments is zero.
- The minimum interest charge is $2.
- No foreign transaction fee applies to the card.
Requirements of the Midas Synchrony Credit Card
The first thing to remember is the applicant must be a resident in the United States. In addition to that, he/she should be holding a valid Social Security Number along with a valid Identity Card Number. Meanwhile, the applicant must be at least 18 years old. Most importantly, the required credit score for the card is 650 – 850.
Advantages of the Midas Credit Card
- Special Financing options are available for the cardholders.
- No need to allocate money on the annual fee.
- The applicant can use the card at more than 1,000 locations under the Midas brand.
- In addition to that, the cardholder can use Midas card in nationwide accepted gas stations.
- Midas Credit Card reports to three Bureaus. They are,
- Gas Rewards are available under the card.
- They are giving the Zero Fraud Liability facility to the customers.
- The cardholders can manage their accounts online through, Online account management system.
- A one-year free interest period is available if you settle the full amount in 12 months regarding the purchases of $480 or more.
Disadvantages of the Midas Credit Card
- No Visa or MasterCard benefits are available for the card.
- You can use the card only in accepted stores and gas stations.
- There is no sign-up bonus for new cardholders.
- High-interest rates are applicable for purchases.
- The required credit score is comparatively high.
- No cash back or rewards are available on the Midas card.
- The cardholders cannot earn rewards in every purchase they make.
- No-Intro APR period is available.
How to Apply?
`The bank is providing the facility to apply for a Midas credit card online through the Midas Credit Card website.Then the applicant should fill the application. After checking the accuracy of the information, the application can submit. Through the website, the applicant can check the processing time as well as the application status. Furthermore, the cardholder can process Midas credit card payments online.
1-877-295-2080 is the customer service number of the Midas Credit Cards. According to the Midas credit card reviews, they have good customer service on board.
How to Cancel?
First of all, you have to pay the outstanding balances of the credit card. After that, the cardholder can redeem the awards. Finally, by giving a phone call to the bank, the credit card will be closed. Recommended vehicles related credit cards are toyota credit card , Ford Credit Card