The Synchrony Premier World Mastercard is a rewards credit card that earns 2% cash back on every purchase with no annual fee. There are no rotating categories, activation deadlines, no earning caps, or miles/points to redeem. It was previously invite-only, but is now open to public applications subject to credit approval.
Here are a few minor but notable ways that make this 2% cash back card unique from the competition.
Cash back is credited automatically to your statement every month. Other competitors may require you to accrue either a minimum like $25 before you can redeem, or require you to manually request the rewards. With this card, your cash back gets credited to your statement every month, automatically. You don’t have to do anything.
World Mastercard perks. As a “World Mastercard” – a notch above the standard Mastercard – it includes a few unique benefits that most other 2% cash back cards don’t have. These include cell phone protection, DoorDash, Lyft, and Shoprunner benefits. Details at the World Mastercard official page, but here the perks I found most useful:
- Cell phone protection. World Mastercard comes with $1,000 in yearly coverage ($600 max per claim, 2 claims per year) should your cell phone get stolen or need certain repairs. Simply pay for your cell phone bill with your World Mastercard to activate coverage. There is a $50 deductible.
- DoorDash DashPass perks. Get free delivery, reduced fees and exclusive offers with DashPass, the monthly subscription service from DoorDash. New members get 3 free months of membership. In addition, World Mastercard DashPass members get $5 off their first 2 orders per month until 9/30/2022. Details.
If you aren’t into chasing bonuses or maximizing the value of points and miles, I recommend that everyone get some sort of flat 2% cash back credit card. Many people I know who prefer simplicity use a debit card with at most 1% cash back, while they could be earning double the cash back while getting better consumer fraud protections and still paying off the balance each month. For example, $2,000 in credit card spending a month is easily calculated at $40 month in cash back rewards, or $480 a year.
If you do like juggling multiple rewards cards, it’s still good to have a 2% cash back card as your “catch-all” back-up card. Traditional, for me this has been my Citi Double Cash card.
Bottom line. The Synchrony Premier World Mastercard offers 2% cash back on every purchase with no annual fee. This simple, flat structure minimizes any work on your end – even the cash back is automatically credited to your statement every month.
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Great cash back card, horrible customer service. THREE times they’ve turned it off unnecessarily suspecting fraud until I called in despite approving the legitimate purchases via email. Then a wasted hour on the phone each time trying to verify my identity with (legit Verizon) cell phones and driver’s license image recognition. They won’t talk to you otherwise unless they US Mail you a secret code. The third time though this I just left turned off. Also does not download in Quicken easily. Have a backup card / plan if you get this.
Thanks for sharing your experience. Sorry to hear about the verification hassles.
Johnathan you said “The cash back is automatically credited to your statement every month”. Does that mean that rewards can only be used tp pay off the credit card debt? or can you request a check or some other means to get it?
I read through their FAQ but I don’t see any other options. If you have say $10 of rewards left, you’d just have to spend $10 on your card for the next statement, and then you’d effectively have redeemed all your rewards.
Edit: Upon further thought that $10 would then generate $0.20 in rewards, for which you might just have to give up if you didn’t again charge $0.20 on the card next month, etc. I’m not too bothered by that.
You can check your Mastercard benefits by entering the card number here:
https://us.mycardbenefits.com/
I entered my Citi Double Cash number, but it said it was unable to find any extra benefits. My IHG card did show the World Mastercard benefits. Strange.
So, our exchange on this post prompted me to do some research on this. It seems that issuing banks choose which Mastercard benefits they offer their cardholders. So, for example, my Citi Double Cash card is a World Elite Mastercard, but Citi has chosen not to offer many (most, it seems!) of the available benefits offered by Mastercard on this card type. For example, they are not offering the Cell Phone Protection benefit. Same goes for my Citi Dividend World Mastercard. Citi does not appear to offer the Cell Phone Protection benefit. It seems deceptive for Mastercard to allow the issuers to pick and choose which card benefits they are going to offer on each card type. What is the point of providing World Elite or World cards if they don’t come with the benefits associated with these cards!?
I agree, that sounds like horrible branding.
Ha, and I just got an email that the Mastercard cell phone coverage from my IHG card is going away at the end of 2021 too. Boo.
does that mean that if you didn’t use the card before the next statement date, you’d lose the cash back bonus? The balance does not stay there until used maybe 2 or 3 months later?
Just FYI, the Citi Double Cash card is offered as a World Elite Mastercard, which is a step up from the World Mastercard. Per the Points Guy, World Elite cardholders enjoy all the standard and World Mastercard benefits (including DoorDash and Lyft benefits) listed above, plus the following:
– Fandango: For every $20 spent on Fandango movie tickets or Fandango’s streaming services, receive a $5 Fandango reward for future movie tickets or at-home purchases.
– World Elite Concierge: This 24/7 concierge service acts as a personal assistant, helping you plan dinner reservations or book tickets to events.
– Cell phone protection: By paying your cell phone bill with your World Elite Mastercard, you’ll get a higher amount of coverage than the World Mastercard cell phone coverage. If you damage your phone or it’s stolen, you may get reimbursed for up to $800 per claim (maximum two claims per year and $1,000 in yearly coverage).
World Elite is another notch above World, but are you sure that is the case for new card applicants of the Citi Double Cash? I don’t see any mention on any application pages. I know some folks got upgraded to one with an existing card, but it doesn’t seem to be promoted at all for new applicants as you’d expect if that was the case.
No, I am not certain that new Citi Double Cash cardholders are currently being issued a Word Elite Mastercard, but as you point out, there are other blog posts suggesting Citi upgraded the card to the World Elite program. I don’t recall getting a notice announcing an upgrade, but my card says World Elite on it. I suppose it is possible they’re only upgrading existing cardholders, but that seems a bit unusual. https://www.bestcards.com/credit-card-news/citi-double-cash-will-now-be-a-world-elite-mastercard/
It shows up as a credit off what you need to pay that month calculated from that month’s transactions. No waiting, no fuss. Taking the savings and do what you wish with it. Spend $1000 that month, pay $980 back, $20 stays in your bank.
Wells Fargo Active Cash? Card Also pays 2% cash back for all purchases ad if you make monthly cell phone payment using the card, it also covers for loss.
Looks like another good 2% cash back option, interesting that it is a Visa Signature and Wells Fargo is providing the cell phone protection benefits themselves.