Understanding the Updates to Your Business Cardholder Agreement & Rewards Program Rules

Card Agreement Highlights

  • We’ve made general updates throughout the documents to make them clearer.
  • We’ve included more information on the Visa Account Updater and how it works, Your Credit Limit, and authorizations.
  • We’ve clarified how we handle balance transfers:

    Balance Transfer(s) do not earn rewards under reward programs. The minimum amount of a Balance Transfer is $100. We will only approve Balance Transfer amounts that are at least $200 under your Credit Limit. For example, if your Credit Limit is $2,000, we will only approve a Balance Transfer of $1,800 or less.

  • We’ve provided more explanation on the Posting of Payments:

    Overdraft Protection will allow you to go up to your available limit. Any amount over the limit will also be included in your minimum payment. If you exceed your limit, you will be charged an additional Overlimit fee.

    This is a quick review of the way we assess interest and grace periods. See the Cardholder Agreement for more details as it relates to transaction types.

    Transaction Type Grace
    Period
    No Grace
    Period
    Purchase
    APR1
    Cash
    APR
    Intro
    APR
    Promo
    APR
    Purchase grace period is applied to purchase transactions purchase APR is applied to purchase transactions intro APR is applied to purchase transactions
    Balance Transfer grace period is applied to balance transfer transactions purchase APR is applied to balance transfer transactions intro APR is applied to balance transfer transactions
    Overdraft Protection grace period is applied to overdraft protection transactions purchase APR is applied to overdraft protection transactions intro APR is applied to overdraft protection transactions
    Cash Advance no grace period is applied to cash advance transactions cash APR is applied to cash advance transactions
    Promotional Check no grace period is applied to promotional check transactions purchase APR is applied to promotional check transactions
    Expired Promotional Check no grace period is applied to expired promotional check transactions cash APR is applied to expired promotional check transactions
    Convenience Check no grace period is applied to convenience check transactions cash APR is applied to convenience check transactions
    Promotional Balance Transfer no grace period is applied to promotional balance transfer transactions purchase APR is applied to promotional balance transfer transactions promo APR is applied to promotional balance transfer transactions
  • We've added more information on the transfer and termination of your account related to Beneficial Ownership requirements. The language in italics below has been added to the agreement.

Transfer and Termination of Your Account

You may not transfer your Account to any other person. We may assign your Account to any other person at any time. Either you or we may terminate or suspend your credit privileges at any time. However, you will remain liable for all amounts owed on your Account until they are paid in full. We may terminate any or all of your Accounts at any time or reduce the amount of your Credit Limit on any or all of your Accounts, subject to applicable law, even though a default may not have occurred. You agree that you will continue to be responsible for full payment of the balance on the closed Account(s) and all charges to the Account(s), including, without limitation: Purchases and Cash Advances that post after termination of the Account and any Finance Charge or other charges. The Account will be blocked and/or closed for non-compliance with requests for Beneficial Ownership. You or any authorized representative, Account guarantor, or administrator may cancel the Account at any time upon written notification to us.

Download the newest Business Cardholder Agreement

Program Rules for Rewards and Travel Rewards

  • Per the new rules that go into effect in April 2020, points will no longer expire. (Please be sure to redeem any points that expire on or before March 31, 2020 prior to their expiration.)
  • The rules include information on a new option to transfer points to another Synovus Credit Card Customer.
  • We’ve included basic information on a new digital experience coming later this spring that will make it easier for you to access your rewards information online. More communications will be sent as the launch date of this new experience gets closer.

Download the Program Rules for Rewards and Travel Rewards

Important disclosure information

  1. Purchase APR goes into effect once the intro/promotional APR expires. Back