Both American Express Bank and Synchrony Bank offer great banking products and online experience for their customers.
Let's compare their checking and savings accounts, CDs, credit cards, and lending options.
Checking Accounts
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Account Types
Bank Account | Monthly Fee | APY On Balance |
|---|---|---|
Amex Rewards Checking | $0 | 1.00% |
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Features
Bank Account | Main Features |
|---|---|
Amex Rewards Checking | Interest on balance, mobile check deposits, digital transfers, debit card with purchase protection, rewards your everyday spending
|
Top Offers From Our Partners
Top Offers From Our Partners
Savings Accounts
Synchrony Bank is our winner as it offers slightly higher savings rates than American Express.
Synchrony also offers money market accounts, but the rates are lower than its savings account.
American Express Savings | Synchrony Savings | Synchrony Money Market | |
|---|---|---|---|
Savings Rate | 4.00% | 4.30% | 2.25% |
Minimum Deposit | $0 | $0 | $0 |
Fees | $0 | $0 | $0 |
Certificate Of Deposits (CDs)
Synchrony Bank is our winner as it offers higher rates and more terms than American Express, and even offers a no penalty CD.
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American Express vs Synchrony CD Rates
CD Term | Synchrony | American Express |
|---|---|---|
3 Months | 0.25% | N/A |
6 Months | 3.90% | N/A |
9 Months | 4.05% | N/A |
12 Months | 4.20% | 3.85% |
18 Months | 4.10% | 3.35% |
24 Months | 3.90% | 3.50% |
36 Months | 3.90% | 3.00% |
48 Months | 3.90% | 3.00% |
60 Months | 4.00% | 3.00% |
Top Offers From Our Partners
Credit Cards
Card | Rewards | Bonus | Annual Fee |
| Blue Cash Preferred® Card from American Express | 1-6%
6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit
and U.S. gas stations, 1% cash back on other purchases
| $250
$250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
| $95 ($0 intro for the first year) |
|---|---|---|---|---|
| American Express® Gold Card | 1X – 4X
4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
| 60,000 points
60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership
| $325 |
| The Platinum Card® from American Express | 1X – 5X
5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
| 80,000 points
80,000 Membership Rewards® points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership
| $695 |
| Delta SkyMiles® Gold American Express Card | 1X – 2X
2X miles on delta purchases, at restaurants worldwide (including take-out and delivery in the U.S) and at U.S. supermarkets, and 1x miles on all other eligible purchases
| 50,000 Miles
Earn 50,000 bonus miles after you spend $2,000 in purchases on your new card in your first 6 months of card membership.
| $150, $0 intro first year |
| Hilton Honors American Express Card | 3X – 7X
7X Hilton Honors Bonus Points for each dollar of eligible purchases charged directly with hotels and resorts within the Hilton portfolio, 5x points at U.S. restaurants (including takeout and delivery) U.S.supermarkets, U.S. gas stations and 3x points for each dollar on other eligible purchases
| 100,000 points
100,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership
| $0 |
Card | Rewards | Credit Requirementss | Annual Fee | |
|---|---|---|---|---|
| Synchrony Home Credit Card | Promotional Financing
six months of promotional financing on purchases of $299-$1,998.99, or 12 months of promotional financing on purchases of $1,999 or more. Some Synchrony partner locations defer interest for up to 60 months.
| Excellent | $0 |
| Synchrony Premier World Mastercard | 2%
2% cash back on all purchases | Good – Excellent | $0 |
| JCPenney Credit Card | 5%
1 point for every dollar at JCPenney, 200 points worth $10 -> $10 per $200 spend on JCPenney = 5% back
| Fair – Good | $0 |
| American Eagle Credit Card | 30X – 40X
15 points Instant for cardmembers. 30 points per dollar spent at American Eagle, 20 points if you spend more than $350 annually | Fair – Good | $0 |
Mortgage And Loans
Both banks don't offer various options for borrowers. American Express does offer personal loans.
Both banks lack important lending options you can find on other banks such as mortgages (including refinancing), auto loans, or student loans.
Which Bank Is Our Winner?
American Express is our winner as it is a better fit for most consumers, with a decent checking option (not available through Synchrony), an impressive savings account, and a great selection of credit cards.
Compare Synchrony Bank
Marcus distinguishes itself through its investment options. With a variety of IRA options, you can experiment with different account types and portfolios. Marcus may appeal to you if you want the convenience of having your funds in a high yield savings account or if you are new to investing.
Synchrony focuses on accounts that help you save money. So there are high yield savings accounts, CDs, and money market accounts. You can also gain access to IRAs. Synchrony does, however, offer a variety of credit cards.
Read Full Comparison:: Marcus vs Synchrony Bank: Where to Save Your Money?
Both Barclays Bank and Synchrony Bank offer great savings products for their customers, but lack a checking account. Which bank is best?
Capital One is our winner with a full banking package, including a decent checking option, high savings rates, and great credit cards.
Ally Bank is our winner with a complete banking package, including a checking account ( not available with Synchrony) and high savings rates.
Compare American Express Bank
Discover Bank is a full-service online bank as well as a provider of payment services. Discover can be used for banking and retirement planning by individuals. Discover is best known for its credit cards with rewards, but it also provides personal, student, and home equity loans.
American Express is one of the world's most well-known credit card brand names. Customers can get a personal banking solution from American Express National Bank, which offers online savings and CD options. Personal savings accounts have a high potential yield. They do not, however, provide as many products as Discover Bank does.
Read Full Comparison: Discover vs American Express: Which Bank Account Is Better?
Capital One is a premium online banking service that offers convenient, dependable service and physical locations to anyone looking for them. Capitol One 360, in addition to providing a trustworthy and dependable service, has no hidden fees or minimums, allowing you to continue earning interest on your daily money. There are over 38,000 fee-free ATMs and over 2,000 Capital One ATMs to meet your money access needs.
American Express is one of the world's most well-known credit card brand names. Customers can get a personal banking solution from American Express National Bank, which offers online savings and CD options. Personal savings accounts have a high potential yield. American Express National Bank is a respectable, secure banking option that does not offer any extra features but does offer the most important one.
Read Full Comparison: American Express vs Capital One: Which Bank Is Better For You?
Although Chase Bank has a modern, trendy image, it is one of the oldest banks in the United States. JP Morgan Chase's consumer division, Chase Bank, is one of the largest banks in the United States. Even though its interest rates aren't particularly competitive when compared to online banks and credit unions, loyal Chase customers who keep a significant amount of money with the bank can earn slightly better rates.
American Express is best known for its credit card business. The financial services firm, on the other hand, has a banking subsidiary that offers high-yield savings and CD accounts. For those looking to save money with a well-known financial institution, the American Express High Yield Savings Account is a popular option.
Read Full Comparison: American Express vs Chase Bank
The Citi checking account is a fairly standard product. The account does have a $12 monthly fee, but it is waived if you make a qualifying deposit or make a qualifying bill payment. Overdraft protection is also available, which automatically transfers funds from your savings account to avoid overdraft fees.
Because the American Express savings account has a high yield, the number of withdrawals or transfers you can make each month is limited to nine. It's also a nice touch that American Express allows you to choose paper statements if you prefer the old-fashioned way.
Read Full Comparison: American Express vs Citi: Where to Save Your Money?
While CIT Bank lacks a credit card option, it does have a decent eChecking account, mortgages, and home loans. However, American Express has personal loans and an impressive choice of credit card options.
CIT Bank vs American Express: Which Bank Account Is Better For You?
While Amex has a decent checking account and better credit card options, Ally's CD and lending options are superior. Here's our comparison: American Express Bank vs. Ally Bank
For most consumers, Bank of America may be a better option. American Express is a solid option for customers with higher wealth. Here's why.
American Express Bank vs. Bank of America: Which Bank Account Is Better?
Chase Bank is our winner, while Amex and Chase offer great banking services and credit card portfolios. Here's our side-by-side comparison: American Express Bank vs. Chase Bank
While PNC Bank is a brick-and-mortar bank, American Express Bank's is an online bank. Let's compare their banking products side by side: American Express Bank vs. PNC Bank
U.S. Bank is one of the largest brick-and-mortar banks in the US, while Amex Bank is among the best online banks. Let's compare them: U.S. Bank vs. American Express Bank
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Amex comes out on top with a solid checking option (which Barclays doesn't have), an excellent savings account, and great credit cards.
Barclays Bank vs. American Express Bank: Which Bank Account Is Better?
How We Compared Amex Bank and Synchrony: Methodology
In our comprehensive banking comparison, The Smart Investor team meticulously reviewed and compared banks across five vital categories:
Checking Accounts (30%): We thoroughly examined features such as direct deposit, debit card availability, monthly fees, ATM and branch access, check deposit, bill pay options, and account alerts. Special offers available to customers were also taken into account.
Savings Accounts and CDs (20%): Our focus centered on critical factors including the Annual Percentage Yield (APY), minimum deposit requirements, account flexibility, FDIC insurance coverage, special savings offers, variety of CDs, automatic renewal options, and early withdrawal penalties.
Credit Cards (15%): We carefully analyzed rewards programs, annual fees, introductory bonuses, travel benefits, APR, and balance transfer options provided by each bank's credit cards to offer a comprehensive comparison of available features.
Lending Options (15%): We evaluated the variety of loan options offered, encompassing personal loans, student loans, mortgages, secured loans, HELOCs, and Home Equity Loans, providing valuable insights into the banks' lending capabilities.
Customer Experience and Bank Reputation (20%): Our assessment included an analysis of online banking and mobile app usability and ratings, accessibility of customer support, online reviews, JD Power research, Trustpilot ratings, and overall financial stability, delivering a holistic perspective on customer experience and reputation.
