Synchrony Car Care vs Upgrade Triple Cash Rewards Visa

Auto Repair Credit Card ShootOut

Both the Synchrony Car Care and Upgrade Triple Cash are credit cards that are meant to be used for auto repairs. In the case of the Synchrony Car Care card, you can use it at partner auto repair shops and gas stations. The Upgrade Triple Cash Rewards is a Visa card and can be used anywhere. But you earn 3% cash back for auto related expenses. In this comparison, we will look closely at these two cards and find out which is better.

Synchrony Car Care as an Auto Repair Credit Card

The Synchrony Car Care card is a closed looped credit card that is not a Visa or Mastercard and can be used only at auto repair shops and gas stations that have struck up partnerships with Synchrony. Synchrony Car Care does not have any annual fee and they offer 0% financing for 6 months for purchases above $199. You do have to pay back the balance within 6 months. If not, you will be charged back dated interest from the date of the purchase.

The following type of expenses is elible for use on the Synchrony Car Care Card:

Routine Maintenance | Car Washes and Detailing | Parking | Tolls | Rideshare & Taxi | Tires and Wheels | Parts & Accessories | Rental Cars | Larger Maintenance and Repairs | Auto Insurance |

Upgrade Triple Cash as an Auto Repair Card

The Upgrade Triple Cash Rewards is a credit card that behaves like a loan. When you make a charge to the card, Upgrade calls it a draw just like a draw on a line of credit. Instead of paying the minimum payment, more than minimum payment or in full, you will pay back the balance in equal installments over a fixed term. The fixed term and interest rate will be given to you if and when you pre-qualify for the card.

The Upgrade Triple Cash Rewards Visa has no annual fee. The interest rate ranges from 14.99% to 29.99% and the fixed term is usually 2 or 3 years though it could be as long as 7 years. The credit limit ranges from $500 to $25,000 depending on your credit profile. Most applicants who get approved have a FICO score between 620 and 720.

The Upgrade Triple Cash Rewards is a bonus category cash back credit card and allows you to earn 3% cash back on home, health and auto categories. Since we are comparing this card with the Synchrony Car Care, below is a list of eligible auto related expenses.

Automobile Rental Agency | Automotive Paint Shops | Automotive Service Shops (Non-Dealer) | Automotive Tire Stores | Automotive Top & Body Shops | Camper, Recreational and Utility Trailer Dealers | Car and Truck Dealers (New and Used) — Sales, Service, Repairs, Parts, and Leasing | Car and Truck Dealers (Used) — Sales, Service, Repairs, Parts, and Leasing | Car Washes | Miscellaneous Automotive, Aircraft, and Farm Equipment Dealers — Not Elsewhere Classified | Mobile Home Dealer | Motor Home and Recreational Vehicle Rentals | Motor Home Dealers | Motor Vehicle Supplies and New Parts (Business to Business MCC) | Motorcycle Dealers | Snowmobile Dealers | Tire Retreading & Repair | Towing Services | Truck and Utility Trailer Rentals

Both are designed to be used for auto repairs and auto related purchases

Both the Synchrony Car Care and Upgrade Triple Cash Rewards are designed to be used for auto repairs and related purchases, though in different ways. With you Synchrony Car Care, you can use it at their partner auto repair shops and at gas stations.

As the Upgrade Triple Cash Rewards is a Visa card, you can use it anywhere Visa is accepted. But the card pays 3% cash back on auto related expenses and so you are rewarded and encouraged to use the card this way.

Differences

Synchrony Car Care offers 0% 6 Month Financing

One big difference between the Synchrony Car Care and Upgrade Triple Cash is that Synchrony Car Care offers 0% financing for 6 months for purchases above $199. Though you get 0% financing, you still have to make minimum monthly payments. More importantly, you have to pay off the balance within 6 months. If not, you have to pay interest that accrues from the purchase date.

Synchrony Car Care is a closed loop card

The Synchrony Car Care card is a closed loop card whereby you can only use it at their partner auto repair and gas stations. In contrast, the Upgrade Triple Cash Rewards is a Visa credit card and you can use the card anywhere Visa is accepted.

Upgrade Triple Cash allows you to earn 3% cash back

The Upgrade Triple Cash offers cash back rewards in the auto category whereas the Synchrony Car Care does not have any rewards program at all. You will earn 3% cash back not just on auto related expenses, but on on home and health and wellness related expenses.

Upgrade Triple Cash payment resembles an installment loan

The Synchrony Car Care's payment is typical of a regular credit card. You can either choose to pay the minimum payment, more than minimum or pay in full. In contrast, Upgrade's payment is like an installment loan where you pay back the balance in equal installments over a fixed period. In fact, Upgrade reports your draw and payments as an installment loan to the three major credit bureaus and not like a trade line which regular credit cards (including the Synchrony Car Care) report as.

Which is better?

Aftering comparing the features of the two cards, I think we can safely say that the Upgrade Triple Cash Rewards Visa is the better card for auto repairs than the Synchrony Car Care. The main reason is that you can earn 3% cash back for auto repair expenses whereas you get no rewards for using the Synchrony Car Care card. Furthermore, you have to check if the auto repair shop is a partner of Synchrony Car Care (many are so it not just really a big issue for most people). The Upgrade Triple Cash is a bonus cash back credit card and also allows you to earn 3% cash back for home and health related expenses aside for auto repair expenses. Upgrade also allows you to pay your balance over a longer time period with equal installments whereas, the Synchrony Car Care leave it up to you if you simply want to pay the minimum payment or more. Having equal installment payments and a fixed time to pay off your balance helps many people from getting into more debt with piling interest payments.

Upgrade is also a Visa card whereas the Synchrony Car Care is a closed loop store card that only be used at partner auto repair shops and gas stations. Furthermore, Upgrade gives you 3% cash on home and heath related expenses in addition to auto repair expenses.

The one advantage that the Synchrony Car Care has over the Upgrade Triple Cash is that they do offer 0% interest financing for 6 months for purchases of $199 and above. However, please note that you would have to pay it off within 6 months or you will be charge interest from the date of purchase. If you are looking for 0% financing, you are better off getting a regular Visa or Mastercard with a 0% deal. You may get one that has a promotional period of longer than 6 months.

One thing you have to be aware of is that you need a good credit score (at least 680) to get approved for the Upgrade Triple Cash Rewards whereas the Synchrony Car Care is more forgiving if your credit is not so good.

But if you have a good credit score and are looking for a credit card for potential emergency auto repair expense, I would go for the Upgrade Triple Cash over the Synchrony Car Care.