- Synchrony a premier consumer financial services company deliver a wide range of specialized financing programs
- Bureau issued a CAS approval order to Synchrony regarding their proposal to develop a “dual-feature credit card.”
- The card designed for consumers with a limited or damaged credit history as a tool that used to establish a favorable credit history
- Synchrony intends to offer a lower rate on secured use with the opportunity for eligible account holders
- The terms of both secured use and unsecured use disclosed at the opening of the dual-feature credit card account
- The CAS Policy implements the existing safe harbor approval mechanisms provided under the Electronic Fund Transfer Act
Synchrony: Wins approval for dual usage credit card
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