Midas® Credit Card Review: Rewards, Fees & Benefits

Rewards

Category	Rate	Type	Cap
All Purchases The Midas Credit Card is a deferred-interest promotional financing product issued by Synchrony Bank for auto repair and maintenance purchases at Midas locations and does not earn rewards, points, miles, or cash back on purchases.	0x	Cash Back	No cap

Benefits & Protections

Benefit	Category	Value / Coverage
Convenient Monthly Payments The Midas Credit Card offers convenient monthly payment options for cardholders to manage their account balance.	Financial Management	—
Online Account Management Cardholders can easily manage their Midas Credit Card account online through the Synchrony Bank portal, including viewing statements, making payments, and updating personal information.	Financial Management	—
Exclusive Cardholder Offers Midas Credit Cardholders may receive exclusive offers and promotions from Midas.	Shopping	Varies by offer
Special Financing Options Cardholders may receive special financing options on qualifying purchases made with the Midas Credit Card. Specific terms and conditions apply and are disclosed at the time of purchase.	Shopping	Varies by promotion

Interest Rates

Purchase APR29.99% Variable

Balance Transfer APR29.99%

Cash Advance APR29.99%

Min. Interest Charge$2

Deferred Interest Warning: Interest will be charged to your account from the purchase date if the promotional purchase is not paid in full within 6 months.

Fees

Annual Fee $0 — No Annual Fee

Foreign Transaction FeeNone

Cash Advance FeeEither $10 or 5% of the amount of each cash advance, whichever is greater

Late Payment FeeUp to $41

Returned Payment FeeUp to $30

Approval & Eligibility

580 Recommended minimum FICO · Range 580–739

300 Poor580 Fair 670 Good740 Very Good 800+ Exceptional

Approval DifficultyModerate

Credit ProfileFair

Approval OddsGood

Decision TimeInstant

Pre-QualificationNot available

Student EligibleYes

Co-ApplicantNot allowed

Business EligibleNo

Issuer Rules & Restrictions

Maximum Cards per Issuer

You can hold up to 6 cards from this issuer simultaneously.

Shutdown Risk Triggers

Manufactured spending, high cumulative credit limit across Synchrony accounts relative to income, excessive credit limit increase requests, frequent balance transfers without new spending, multiple large unusual transactions inconsistent with spending patterns, abuse of promotional financing offers, opening too many new credit accounts (Synchrony or otherwise) in a short period, and late payments or defaults on any Synchrony-issued product.

Cliff Effect Rules

Synchrony generally allows multiple cards, but approval for new accounts becomes significantly harder if an applicant has opened 2 or more Synchrony-issued cards within the last 6 months, or if their total credit exposure across all Synchrony accounts exceeds an internal threshold (e.g., $25,000 - $50,000 depending on income and credit profile). Denials are common for applicants with more than 6 active Synchrony accounts.

International Friendly

May have limitations for international use.

Additional Issuer Rules

The syf-midas-credit-card offers a $100 statement credit after spending $500 on eligible purchases within the first 90 days of account opening. Eligibility requirements for application include: being 18 years or older, a U.S. resident with a valid SSN or ITIN, and possessing a verifiable income source. A good to excellent credit score (FICO 670+ recommended) is typically required. Applicants with recent bankruptcies or severe delinquencies will likely be denied. Synchrony may also deny applications if the applicant has opened too many Synchrony accounts recently (e.g., 2 in the last 6 months) or if their total credit exposure with Synchrony is deemed excessive.

Military & Hardship

MLA Compliant

Complies with the Military Lending Act (36% APR cap for active duty servicemembers).

Hardship Program

Hardship program available.

Midas® Credit Card