American Express vs Synchrony Bank
High-Yield Savings Accounts Comparison
Last Updated: July 15, 2025
Summary of American Express vs. Synchrony Bank
As of July 15, 2025 American Express offers an APY of 3.60% for its High Yield Savings Account account, compared to Synchrony Bank's 3.80% APY for its High Yield Savings account.
Synchrony Bank yields $20 more than American Express on a $10,000 balance after one year. American Express pays $360, while Synchrony Bank pays $380 - an APY advantage for Synchrony Bank.
American Express
Strengths
- American Express offers a competitive APY of 3.60%.
- No maintenance fees for the High Yield Savings Account.
- American Express has a high App Store rating of 4.9.
Potential Drawbacks
- American Express has an F BBB rating and is not accredited.
- The Google Play rating for American Express is lower at 3.8.
- No branches available for in-person banking.
Synchrony Bank
Strengths
- Synchrony Bank provides a higher APY of 3.80%.
- Synchrony Bank has a solid Google Play rating of 4.6.
- No maintenance fees for the High Yield Savings account.
Potential Drawbacks
- Synchrony Bank is not rated by the BBB.
- The App Store rating for Synchrony Bank is slightly lower at 4.8.
- No branches available for in-person banking.
Summary: American Express offers a lower APY of 3.60% compared to Synchrony Bank's 3.80%. While American Express has a higher App Store rating, it has a poor BBB rating. Both banks have no maintenance fees and no branches, but Synchrony Bank's Google Play rating is notably higher. Overall, Synchrony Bank may be more appealing for those prioritizing APY.
Compare American Express' vs Synchrony Bank's Savings Accounts
| American Express | Synchrony Bank | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | High Yield Savings |
| APY | 3.60% (as of 7/15/2025) | 3.80% (as of 7/15/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| Visit Bank | High Yield Savings Account | High Yield Savings | |
| App Store Rating | 4.9/5 | 4.8/5 | |
| Google Play Rating | 3.8/5 | 4.6/5 | |
| BBB Rating | F | Not Rated |
Comparative Historical APY Insights (Last 6 Months)
| American Express | Synchrony Bank | ||
|---|---|---|---|
| Product | High Yield Savings Account | vs | High Yield Savings |
| Latest APY | 3.60 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -3.9 | -4.6 | |
| Rate Changes / Mo | 0.34 | 0.34 | |
| Days Since Last Change | 69 | 43 | |
| High (-6 m) | 3.80 % | 4.10 % | |
| Low (-6 m) | 3.60 % | 3.80 % | |
| Draw-down from High | -5.3 % | -7.3 % | |
| Volatility (CV) | 0.019 | 0.024 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-6 m)
- Highest APY in the last 175 days.
- Low (-6 m)
- Lowest APY in the last 175 days.
- Draw-down from High
- How far today sits below the 6-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for American Express vs Synchrony Bank
All calculations are based on APY.
American Express
APY: 3.60%
Total savings breakdown:
- Interest earned: $36 (3.47%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.53%)
Your total balance
$1,036.00
Effective APY: 3.60% (based on your deposit and contributions)
Total balance: $1,036
Earnings: $36
Bank DetailsSynchrony Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $38 (3.66%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.34%)
Your total balance
$1,038.00
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $1,038
Earnings: $38
Bank DetailsAfter 1 year American Express would earn you $2 less than Synchrony Bank.
More Comparisons
Compare American Express' APY of 3.60% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| American Express vs Ally Bank | 3.50% | $0 |
| American Express vs Axos Bank | 4.66% | $0 |
| American Express vs Bank of America | 0.01% | $100 |
| American Express vs Barclays | 4.10% | $0 |
| American Express vs Capital One | 3.50% | $0 |
| American Express vs Chase Bank | 0.01% | $0 |
| American Express vs Chime | 3.75% | $0 |
| American Express vs CIT Bank | 4.00% | $100 |
| American Express vs Discover Bank | 3.50% | $0 |
| American Express vs Fitness Bank | 5.00% | $100 |
| American Express vs Marcus by Goldman Sachs | 3.65% | $0 |
| American Express vs Presidential Bank | 4.50% | $5,000 |
| American Express vs SoFi Bank | 3.80% | $0 |
| American Express vs Varo Bank | 5.00% | $0 |
| American Express vs Wells Fargo | 2.51% | $25 |
Compare Synchrony Bank's APY of 3.80% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Synchrony Bank vs Ally Bank | 3.50% | $0 |
| Synchrony Bank vs Axos Bank | 4.66% | $0 |
| Synchrony Bank vs Bank of America | 0.01% | $100 |
| Synchrony Bank vs Barclays | 4.10% | $0 |
| Synchrony Bank vs Capital One | 3.50% | $0 |
| Synchrony Bank vs Chase Bank | 0.01% | $0 |
| Synchrony Bank vs Chime | 3.75% | $0 |
| Synchrony Bank vs CIT Bank | 4.00% | $100 |
| Synchrony Bank vs Discover Bank | 3.50% | $0 |
| Synchrony Bank vs Fitness Bank | 5.00% | $100 |
| Synchrony Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Synchrony Bank vs Presidential Bank | 4.50% | $5,000 |
| Synchrony Bank vs SoFi Bank | 3.80% | $0 |
| Synchrony Bank vs Varo Bank | 5.00% | $0 |
| Synchrony Bank vs Wells Fargo | 2.51% | $25 |