SYNCB/CARECR stands for “Synchrony Bank/CareCredit.” It refers to the CareCredit Card, which is issued by Synchrony Bank. The card can be used to pay for medical expenses at the 200,000+ U.S. medical facilities that are part of Synchrony Bank’s CareCredit Network.
You may see SYNCB/CARECR on your credit report if you have the CareCredit Card or you recently applied for it. If you don’t have a CareCredit Card, you shouldn’t see that phrase on your report, so it’s worth investigating if it turns up. You can give Synchrony a call at (866) 893-7864, for starters.
If you’re wondering whether the CareCredit Card is any good, well, some people may find it useful for financing. It offers 0% APR on certain medical purchases for 6-24 months. And it gives reduced rates on other purchases for 24-60 months. But CareCredit’s financing deals are deferred interest. So if you don’t pay everything off by the end of the promotional period, you’ll owe interest at the normal APR, 26.99%, as if it was there from the date of the purchase. It’s usually not the greatest option.