Optional Payment Security Program - Synchrony (2024)

When life takes an abrupt turn and affects your finances, the optional Payment Security program offers Synchrony credit card payment protection when you need it most. *

There are seven events covered by the optional Payment Security program:

• Involuntary unemployment— You lose your job due to a general strike, layoff or unionized labor dispute, or you are terminated due to no fault of your own.
• Leave of absence— You are on an unpaid employer-approved leave of absence from your full-time job.
• Disability— You are unable to perform normal daily activities and require the care of a doctor due to sickness or injury.
• Hospitalization— You are admitted to a hospital and are under the care of a doctor.
• Nursing home care— You are admitted to a nursing home and are under the care of a doctor.
• Terminal illness— A doctor diagnoses you with a medical condition that is expected to cause your death in six months or less.
• Loss of life— The covered person passes away.

Restrictions apply. For complete details and exclusions, please see thePayment Security Debt Cancellation Program Agreement.

If you are employed in a full-time, non-seasonal job, the optional Payment Security program can provide the following benefits:

• Cancellation of your Synchrony credit card minimum payment for one to six months, depending on the covered event and the time period involved.
• Cancellation of the balance on your Synchrony credit card account, up to $10,000.

For complete details and exclusions, please see thePayment Security Debt Cancellation Program Agreement.

Yes. You would still be eligible for up to six months of minimum monthly payment cancellations on your Synchrony account. You would not be eligible for balance cancellation.

If both Covered Events have the same Benefit Start Date, you will need to choose just one of the events to file for benefits.

If both Covered Events have the same Benefit Start Date, you will need to choose just one of the events to file for benefits.

If you experience a Covered Event, the primary or joint Synchrony credit card account holder should follow the steps below:

1. Call (800) 815-4051(9:00 a.m. to 10:00 p.m. Eastern Time, Monday through Friday and 9:00 a.m. to 6:00 p.m. Eastern Time, Saturday, except holidays) OR write to Payment Security, P.O. Box 740237, Atlanta, GA 30374-0237 to ask for a Benefit Request Form.
2. Complete and return the formwith requested documents within one (1) year of the Benefit Start Date.

No. After a Covered Event occurs, you must continue to make any required minimum payments on your Synchrony credit card account until you are notified that your benefit request is approved.

The optional Payment Security program costs $1.66 for every $100 of the ending balance on your Synchrony account each month.

Example

Monthly ending balance	$500
Calculation	$500 balance ÷ $100 = $5
Monthly fee	$1.66 × 5 = $8.30

Yes. You would need to purchase a separate Payment Security credit card protection plan for each of your Synchrony credit card accounts.

Yes. If you purchase the optional Payment Security program, you will be charged for any month where you have a statement balance on your Synchrony account, even if you pay that balance in full.

No. If you do not have a statement balance, you will not be charged the Payment Security fee for that month.

You may cancel at any time. If you cancel within 90 days of your enrollment Effective Date, you will receive a refund of any program fees you may have been charged. To cancel, call (800) 815-4051 (9:00 a.m. to 10:00 p.m. Eastern Time, Monday through Friday and 9:00 a.m. to 6:00 p.m. Eastern Time, Saturday, except holidays) OR write to Payment Security, P.O. Box 740237, Atlanta, GA 30374-0237.