# Synchrony Financial

Summary updated: 2026-03-18T11:55:40.319716Z
Canonical: https://finbar.com/research/companies/synchrony-financial

## Overview

Synchrony Financial is a U.S.-focused consumer financial services company that operates as a single business segment and provides financing and banking products through a broad partner network across categories such as retail, health and wellness, digital, telecommunications, home, auto, outdoor and pet. Its core offerings include private label, dual, co-brand and general purpose credit cards, short- and long-term installment loans, and FDIC-insured consumer deposit products. Synchrony describes its aim as connecting partners and consumers through financing solutions and digital capabilities that support seamless omnichannel experiences.[1](https://app.finbar.com/go?id=P-6cc1c7ae29694f68a797ad29f7050a3a)[2](https://app.finbar.com/go?id=P-c8c3aabd9f634f0384018a8b891a5b56)[3](https://app.finbar.com/go?id=P-64663500e9844a8e8be01754778b4ab6)[4](https://app.finbar.com/go?id=P-d51177a4205744e0a883bb67bae5e298)[5](https://app.finbar.com/go?id=P-1b78e6873e5747888517b0b9f6b7f13d)

The company organizes its commercial activities across five sales platforms: Home & Auto, Digital, Diversified & Value, Health & Wellness, and Lifestyle, with CareCredit serving as a defining financing brand in health and wellness. Substantially all of Synchrony’s revenue-generating activities are within the United States, although it also supports its operations through international call centers.[6](https://app.finbar.com/go?id=P-b338177f7a524253afff41961adddd7e)[7](https://app.finbar.com/go?id=P-5a370826d1e24da9896aab5c111be94d)[1](https://app.finbar.com/go?id=P-6cc1c7ae29694f68a797ad29f7050a3a)[8](https://app.finbar.com/go?id=P-de0c9493d30e4c629c3db22f3eed4143)

As indicators of scale, Synchrony had 71.5 million active accounts, $104.7 billion of loan receivables and $182.2 billion of purchase volume in 2024. It reported $22.6 billion of total interest income in 2024 and had over 20,000 full-time employees at year-end.

[9](https://app.finbar.com/go?id=T-3411592fd5db40e295b7904785b87f2b)[10](https://app.finbar.com/go?id=P-b57dd87d0ad642d78adb1f57b19b58f2)

## Products & services

Synchrony’s product set centers on credit cards and installment financing delivered through partner programs. Its private label credit cards are partner-branded or program-branded cards, with examples including Lowe’s, Amazon, Synchrony Car Care and CareCredit, and are used primarily for purchases from the partner or within the program network; some programs also permit cash advances. Its patented Dual Cards function as private label cards with the partner and as general purpose cards at other merchants or for cash advances, and Synchrony says it currently issues them on the Mastercard and Visa networks, with capability to issue on American Express and Discover as well. The company also offers general purpose co-branded cards and a Synchrony-branded general purpose credit card; consumer Dual Cards and co-branded cards represented 28% of total loan receivables at December 31, 2024. [11](https://app.finbar.com/go?id=P-943d07b51cfe4d5ab83e2e5b283c539f)[12](https://app.finbar.com/go?id=P-df45f6e9dbfa4e16b5f24a06bd9f6e18)[13](https://app.finbar.com/go?id=P-4736aa888421415c8ffb111b5de44d8c)[14](https://app.finbar.com/go?id=P-44af11c058134504a1bc6e5e98e566a5)

Named network products include Synchrony Car Care, whose cards may be dual branded with partners such as Chevron, Citgo, Napa, P66, Pep Boys and Summit Racing; the network covers more than one million U.S. locations in automotive parts, repair services and tires, and also allows use at certain related merchants such as gas stations. Synchrony HOME is accepted at participating home-related partner locations nationwide. In healthcare financing, Synchrony offers the CareCredit-branded private label card, the CareCredit Dual Card, installment loans at select providers, and Walgreens private label and Dual Card programs; more than 210,000 provider and retail locations processed a CareCredit application or made a sale on a CareCredit card during 2024. [15](https://app.finbar.com/go?id=P-899a108ba0f44be5810acd83a16b52ef)[16](https://app.finbar.com/go?id=P-5f197b911f424a3487b4eba08f1b5e94)[17](https://app.finbar.com/go?id=P-b6680d05227f4a788d7bc5d2dc986f76)

Beyond revolving credit, Synchrony originates secured installment loans mainly for motorcycles, ATVs, and lawn-and-garden equipment, as well as unsecured installment loans in its Home & Auto and Health & Wellness channels. Its Synchrony Pay Later offering includes pay monthly and Pay in 4 products for short-term loans; Pay in 4 is described as a no-interest, no-fee product repaid in four equal payments, and Synchrony says its tokenization platform can support single-use virtual cards within installment products such as Pay in 4. The company also emphasizes omnichannel product delivery across in-store, online and mobile channels, using mobile apps, websites, online marketplaces and point-of-sale platforms, with about 57% of consumer revolving applications processed digitally in 2024. Through Synchrony Bank, it additionally offers FDIC-insured deposit products including certificates of deposit, IRAs, money market accounts, savings accounts, and sweep and affinity deposits.

[18](https://app.finbar.com/go?id=P-565b9915b93c40bea9b94add213482d8)[19](https://app.finbar.com/go?id=P-48f543aacaf542f88450e5ebb4c605da)[20](https://app.finbar.com/go?id=P-53a9cb8989b04c94a99ba3d807c734ca)[5](https://app.finbar.com/go?id=P-1b78e6873e5747888517b0b9f6b7f13d)[21](https://app.finbar.com/go?id=P-2d0ac1ebee1f45209d36c9bf033e382e)

## Geographic presence

Synchrony Financial’s operating and revenue footprint is predominantly U.S.-based. The company states that it primarily conducts its business within the United States, that substantially all of its revenues are from U.S. customers, that substantially all of its revenue-generating activities are within the United States, and that substantially all of its credit card business is in the United States [22](https://app.finbar.com/go?id=P-3210d6963ef34db5b26919fd86bf96a1)[5](https://app.finbar.com/go?id=P-1b78e6873e5747888517b0b9f6b7f13d)[23](https://app.finbar.com/go?id=P-20df9c809adc4543b5543788008c6dea). It does not provide a detailed regional revenue percentage split in the cited disclosures, beyond indicating this overwhelming U.S. concentration [22](https://app.finbar.com/go?id=P-3210d6963ef34db5b26919fd86bf96a1)[5](https://app.finbar.com/go?id=P-1b78e6873e5747888517b0b9f6b7f13d).

Its principal executive offices are in Stamford, Connecticut, and its bank headquarters are in Draper, Utah [24](https://app.finbar.com/go?id=P-66eb7ef5c229431eb74deb3c86a4eadb)[25](https://app.finbar.com/go?id=P-ab7e08edb3b84d649de9bcc9476e8d30)[26](https://app.finbar.com/go?id=T-bb76bb31863a49e4bc14740c4edc0e49). Synchrony says it serves customers through eight domestic geographic hubs and three international call centers [27](https://app.finbar.com/go?id=P-1e60b574e1064ee0a639aa70081a59f5). Disclosed principal facilities include customer service centers in Altamonte Springs, Florida; Hyderabad, India; Cebu, Philippines; and Manila, Philippines, as well as support centers in Alpharetta, Georgia; Bentonville, Arkansas; Champaign and Chicago, Illinois; Costa Mesa, California; New York, New York; Washington, D.C.; West Chester, Ohio; and Bangalore, India [25](https://app.finbar.com/go?id=P-ab7e08edb3b84d649de9bcc9476e8d30)[26](https://app.finbar.com/go?id=T-bb76bb31863a49e4bc14740c4edc0e49). The company also notes that it maintains offices at some U.S. partner locations [28](https://app.finbar.com/go?id=P-555097e26ad24ba780ee527e3e87a578).

Outside the United States, Synchrony says its international operations are primarily in India and the Philippines [29](https://app.finbar.com/go?id=P-fbf36267e03047389384ac33cb11a381). It had over 20,000 full-time employees at year-end 2024, and states that a majority of its employee population works in full-time or part-time remote arrangements, indicating a geographically distributed workforce rather than one concentrated solely in offices [30](https://app.finbar.com/go?id=P-34c2732f2b8748e6b62c2543236d3f2c)[31](https://app.finbar.com/go?id=P-95664ccfb7a54bdda88db3666d44567d).

## Business segments

Synchrony Financial officially reports a single business segment, but it organizes its revenue-generating activities through five sales platforms—Home & Auto, Digital, Diversified & Value, Health & Wellness, and Lifestyle—grouped by the types of partners it serves rather than as separate reportable segments. The chief operating decision maker assesses performance using consolidated net earnings, and the company states that detailed profitability by sales platform is not used for formal segment evaluation. [32](https://app.finbar.com/go?id=P-f0706c4f3c4e410a8a1f521ef38cc3d6)[33](https://app.finbar.com/go?id=P-397b32775f5d44fd9de7a6495c142265)[34](https://app.finbar.com/go?id=P-7dfcd813d2b8487f8d0b7b71ae771e18)

Using the company’s disclosed 2024 mix of total interest and fees on loans as the closest segment contribution measure, Digital was about 29% of the total, Home & Auto about 27%, Diversified & Value about 22%, Health & Wellness about 17%, and Lifestyle about 5%; a very small “Corp, Other” category represented about 0.1% and includes runoff or terminated programs and certain investment and business-sale items not managed within the five platforms. [35](https://app.finbar.com/go?id=P-f9a3bd93060645989c628765945399dd)[36](https://app.finbar.com/go?id=P-a8b2629fffc5490fbbb93e7395d93dbb)[37](https://app.finbar.com/go?id=P-1c18bf9f59a94dcda0dad62f298a3461)[7](https://app.finbar.com/go?id=P-5a370826d1e24da9896aab5c111be94d)[38](https://app.finbar.com/go?id=P-64cc57dcb2784fa491a885d3c4133fbe)[39](https://app.finbar.com/go?id=P-530137a5405245d3a1e1e9957992db38)

The platform focus areas are distinct. Digital centers on payments and financing integrated into digital channels, including online marketplaces, digital-first merchants, embedded payments, and the Synchrony-branded general purpose credit card. Home & Auto focuses on home and automotive merchandise and services, including home improvement, furniture, bedding, flooring, appliances, electronics, Synchrony Car Care, and Synchrony HOME. Diversified & Value serves large retail partners aimed at everyday value purchases and important life moments. Health & Wellness provides healthcare payments and financing through provider and health-related retail networks, including CareCredit and wellness-related spending for individuals, families, and pets. Lifestyle covers power sports, outdoor power equipment, and discretionary categories such as sporting goods, apparel, jewelry, and music, with much of that platform oriented toward promotional financing.

[40](https://app.finbar.com/go?id=P-4d4a056c724a4e309e8cad5e061522a5)[41](https://app.finbar.com/go?id=P-f4435ff831804d4c9f4bf5773402f139)[42](https://app.finbar.com/go?id=P-61220d5215b84dacbeee32b6f8ec1e54)

## Company history

Synchrony Financial traces its roots to 1932, when General Electric Contracts Corporation was founded to help families finance appliance purchases.[43](https://www.synchronycareers.com/our-history/) The business later expanded its consumer-finance reach through milestones such as the establishment of CareCredit in 1987 and the launch of business credit for Sam’s Club in 1993, followed by revolving consumer and business credit programs in 1994.[43](https://www.synchronycareers.com/our-history/)

Synchrony emerged as an independent company from GE’s North American Retail Finance business. In March 2014, GE announced the filing for an IPO of that business and said it would operate under the new name Synchrony Financial after the offering; in June 2014, GE Capital Retail Bank was renamed Synchrony Bank.[44](https://www.ge.com/news/press-releases/ge-announces-filing-registration-statement-ipo-its-north-american-retail-finance)[45](https://www.synchrony.com/contenthub/newsroom/synchrony-bank-formerly-ge-capital-retail-bank-resolves.html) Synchrony became a publicly traded company in 2014, and GE completed its separation from the company in November 2015.

[46](https://www.synchrony.com/contenthub/newsroom/synchrony-marks-decade-impact.html)[47](https://www.synchrony.com/contenthub/newsroom/synchrony-financial-announces-completion-of-separation-from-ge.html)

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43. [www.synchronycareers.com](https://www.synchronycareers.com/our-history/)
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47. [www.synchrony.com](https://www.synchrony.com/contenthub/newsroom/synchrony-financial-announces-completion-of-separation-from-ge.html)

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