CheapOair Visa® from Synchrony Bank Review

Travel enthusiasts and frequent flyers are always on the lookout for credit cards that offer excellent rewards and benefits tailored to their needs. The CheapOair Visa® from Synchrony Bank aims to cater specifically to this demographic by offering substantial rewards on travel-related expenses, dining, and everyday purchases. But does it really live up to the expectations? Let’s dive deep into the intricacies of this credit card and see if it’s the right fit for you.

CheapOair Visa® from Synchrony Bank Key Takeaways

Before we delve into the detailed review, here are some of the key highlights of the CheapOair Visa® card:
– Rewards Structure: 6x points for every dollar spent on CheapOair.com, 4x points on dining, and 2x points on all other purchases.
– Signup Bonus: $50 statement credit when you make purchases of $500 or more within the first 90 days.
– Annual Fee: $0, making it an attractive option for those who don’t want to pay to hold a credit card.
– APR: Variable APR ranging from 24.24% to 31.24%, which is on the higher side.
– Additional Benefits: Roadside Dispatch, which offers pay-per-use roadside assistance.
– Credit Score Requirement: Fair to Good (580-739).

CheapOair Visa® from Synchrony Bank Pros and Cons

Pros

– No Annual Fee: This is a significant advantage for those who are cost-conscious and don’t want to pay a yearly fee just to keep a credit card.
– High Rewards on Travel and Dining: The card offers generous rewards for purchases made on CheapOair.com and dining, making it an excellent choice for frequent travelers and foodies.
– Signup Bonus: A $50 statement credit for spending $500 in the first 90 days is relatively easy to achieve and adds immediate value.

Cons

– High APR: With an APR ranging from 24.24% to 31.24%, carrying a balance on this card can become expensive quickly.
– No Balance Transfers: The card doesn’t offer an introductory balance transfer rate, making it less suitable for those looking to consolidate debt.
– Limited Additional Benefits: While the card offers Roadside Dispatch, it lacks some of the more premium travel benefits that other travel credit cards offer, such as lounge access or travel insurance.

CheapOair Visa® from Synchrony Bank Benefits

Rewards Program

The rewards program is the standout feature of the CheapOair Visa® card. Here’s a closer look at how you can earn and redeem points:
– 6x Points on CheapOair.com: If you frequently book flights, hotels, and car rentals through CheapOair.com, this card can help you rack up points quickly. This is one of the highest rewards rates available for travel purchases.
– 4x Points on Dining: Whether you’re dining out at a fancy restaurant or grabbing a quick bite, you’ll earn 4 points for every dollar spent. This is particularly appealing for those who enjoy eating out regularly.
– 2x Points on All Other Purchases: This ensures that you’re earning points on every dollar you spend, no matter the category.

Signup Bonus

The $50 statement credit for spending $500 within the first 90 days is a nice perk. Given that the spending requirement is relatively low, most users will find this bonus achievable. It provides an immediate return on your spending and adds to the overall value of the card.

No Annual Fee

One of the most attractive features of the CheapOair Visa® card is its $0 annual fee. This makes it a low-risk option for those who want to earn rewards without the commitment of an annual fee. It also means that any rewards you earn are pure profit, as you’re not offsetting them against an annual cost.

Roadside Dispatch

The Roadside Dispatch service offers pay-per-use roadside assistance. This can be a lifesaver in emergency situations, providing you with peace of mind when you’re on the road. Services typically include towing, tire changing, jump starts, lockout service, and fuel delivery.

Manage Your Account & Pay Your Bill

Synchrony Bank offers an easy-to-navigate online platform where you can manage your account and pay your bills. This includes setting up automatic payments, viewing your statement, and tracking your rewards. Additionally, customer service is readily available to assist with any issues or questions you might have.

APR and Fees

While the CheapOair Visa® card offers fantastic rewards and no annual fee, it’s important to be aware of the APR and other fees associated with the card:
– Purchase APR: The variable APR ranges from 24.24% to 31.24%, which is quite high. This makes it crucial to pay off your balance in full each month to avoid interest charges.
– APR for Cash Advances: The APR for cash advances is 29.99%. Cash advances should generally be avoided due to the high interest rates and fees.
– Late Payment Fee: Up to $41, which can add up quickly if you miss your payment due date.
– Return Payment Fee: $30, applicable if a payment is returned.

How to Avoid Paying Interest

To avoid paying interest on your purchases, ensure that you pay your entire balance by the due date each month. Your due date is at least 23 days after the close of each billing cycle. This grace period gives you time to pay off your balance without incurring interest charges.

Who Should Consider the CheapOair Visa® from Synchrony Bank?

The CheapOair Visa® card is best suited for the following types of users:
– Frequent Travelers: If you book your travel through CheapOair.com, the 6x points per dollar spent can add up quickly, making it an excellent choice for frequent travelers.
– Dining Enthusiasts: The 4x points on dining make this card attractive for those who frequently dine out or order in.
– Cost-Conscious Consumers: With no annual fee, this card is ideal for those who want to earn rewards without the burden of an annual fee.
– Individuals with Fair to Good Credit: With a credit score requirement ranging from 580 to 739, this card is accessible to a broad range of consumers.

Conclusion

In summary, the CheapOair Visa® from Synchrony Bank offers a compelling rewards structure for those who frequently book travel through CheapOair.com and enjoy dining out. The lack of an annual fee and the $50 statement credit signup bonus add to its appeal. However, the high APR and lack of balance transfer options are significant drawbacks that potential cardholders should consider.
If you fit the profile of a frequent traveler who books through CheapOair.com and can pay off your balance in full each month, this card could be a valuable addition to your wallet. However, if you’re looking for a card with lower interest rates or more comprehensive travel benefits, you might want to explore other options.
Overall, the CheapOair Visa® from Synchrony Bank is a solid choice for those who can maximize its rewards structure and avoid carrying a balance. With thoughtful use, it can provide significant value and enhance your travel and dining experiences.