Synchrony Bank is an online bank that specializes in credit and savings products. As such, they provide branded credit cards for well-known companies like Amazon and Walmart — so you may have one of their cards without even realizing it. Synchrony Bank’s online-only approach and connection to other notable businesses make it an appealing disguise for scammers.
Phone scams, in particular, cause tens of billions of dollars in American consumer losses each year, and many are disguised as communications from legitimate entities like Synchrony Bank. Financial fraud from phone scams can ruin your credit, threaten your financial stability, and compromise your identity, so it’s critical to stay vigilant and know how to protect yourself.
The good news is that proper preparation and a trustworthy scam blocker service such as Robokiller can help keep you safe from fraud.
Keep reading to learn how to recognize and avoid Synchrony Bank scams.
Synchrony Bank may send legitimate text messages and emails to customers who sign up for mobile alerts, so it’s important to know how to distinguish fake communications from real ones. Get to know the common types of Synchrony Bank scams so you know what to look out for.
Phishing is a scam tactic whereby fraudsters pose as trustworthy companies, agencies, and individuals to solicit personal and/or financial information from consumers. The scammer then uses that information to steal the target’s money or even assume their identity. Smishing (“SMS” and “phishing”) is when phishing is done via text message, and vishing (“voice” and “phishing”) is when it’s done by voice call.
In Synchrony Bank phishing scams, the criminal may pose as the bank, a business that uses their credit cards, or a government agency like the IRS. They may claim to be reaching out regarding an offer or an issue that must be addressed quickly.
Phishing emails and smishing texts usually encourage you to follow a link to supposedly learn more about the offer or fix the problem, but clicking on it brings you to a fraudulent website designed to steal your private information. It may also infect your device with malware and give scammers access to your data.
Vishing calls may use live callers or pre-recorded voice messages to inform you about the bogus offer or fake issue, attempting to get you to reveal your personal information by phone call. They may ask for financial information to activate your offer or personal details to address a fabricated security issue.
Since Synchrony Bank provides credit cards for many well-known businesses, scammers can target customers of any of those companies. They may offer lower interest rates or better perks on their Lowe’s, American Eagle, or Sleepy’s card — or any of the 110 other company credit cards issued by Synchrony Bank as of 2023.
The scammer may contact you by call, text, or email to offer you a new card with exclusive benefits. In reality, they want you to reveal your account information and other personal data, supposedly to validate and process the deal. The credit card offer isn’t real, and the scammer may use the information you give them to hack into your financial accounts or even acquire new credit cards in your name.
Enrolling in account alerts helps you keep track of your finances and catch unauthorized transactions as soon as they occur. Unfortunately, they also create an opening for scammers to send consumers fake alerts about fraudulent activity that hasn’t occurred. If you fall for the scam and follow the steps, you’ll end up facilitating the fraud you’re trying to prevent.
Fraudulent account alerts are typically sent the same way as legitimate alerts: by text message or email. They generally prompt you to follow links in order to reset your password, verify your identity, or otherwise “secure” your account from scammers. Of course, any information you give away actually goes right to them.
Being able to quickly identify a phishing email, scam call, or text scam can help you avoid the fraud attempt hiding behind it.
Many bank scams show the same warning signs as other types of phone scams, such as:
Improve your online banking security and protect your money from predators by following safe online banking practices.
Synchrony Bank isn’t the only bank that scammers impersonate when they run their schemes. Fraudsters may claim to represent many reputable banks and payment platforms, including:
If you suspect you may be dealing with a Synchrony Bank scam, don’t be afraid to ask questions or hang up and call back at a secure phone number — your bank will understand. Follow the steps below if you receive a suspicious communication that claims to be from Synchrony Bank.
If you realize or even suspect you’ve given away personal information to a scammer, don’t wait to take action. Follow the steps below to minimize the damage and help protect your privacy, money, and credit.
Synchrony Bank scams can be sophisticated and dangerous, so it’s vital to have a solid defense strategy. By concealing your personal information, recognizing the signs of a scam, and using a comprehensive scam-blocking app like Robokiller, you can avoid severe consequences like financial loss and identity theft.
Robokiller blocks scam attempts before they can reach you, providing an extra layer of protection between scammers and your phone. Powered by machine learning and artificial intelligence (AI), our robust algorithm stops 99% of spam calls and scam texts and has saved consumers $740 million in prevented losses to phone scams.
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Synchrony Bank scams may include many of the same red flags as other phone scams, such as a sense of urgency, unexpected messages with suspicious links, and emails from unverified addresses.
Reduce your risk for online banking fraud by recognizing the signs of a scam, keeping your login credentials and account information private, and monitoring your financial statements regularly.
Don’t answer suspicious calls, texts, or emails that claim to be from Synchrony Bank. Instead, call them at the phone number on the back of your card to find out if they were indeed trying to contact you. If it was a scam, report it.
Scam blockers like Robokiller help prevent potential banking scams by intercepting and blocking dangerous fraud attempts before they can reach your phone. Robokiller is 99% effective in preventing scam calls and texts.
Report a suspected Synchrony Bank scam to the Federal Trade Commission (FTC), call Synchrony at 1-866-834-3205, and notify the police if you’ve become a victim of fraud or identity theft.
