---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-115005"
form_type: "8-K"
ticker: null
cik: "0001724786"
company_name: "Synchrony Card Funding, LLC"
filed_at: "2025-11-21T23:59:59+00:00"
generated_at: "2026-05-16T17:39:54.702107+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Synchrony Card Issuance Trust issues $750M Class A(2025-3) notes; portfolio $10.26B

## Summary
- $750M principal of SynchronySeries Class A(2025-3) Notes issued on Nov 17, 2025; net proceeds ~$747.3M.
- Net proceeds used to purchase credit card receivables from Synchrony Bank and repay intercompany debt.
- Trust portfolio as of Oct 31, 2025: $10.26B total receivables, 8.92M accounts, average balance $1,150.
- 47.7% of portfolio receivables have VantageScore 720+; 27.5% 660-719; 6.6% 599 or below.
- Largest program partners: Sam's Club (27.8% of receivables), TJX (21.7%), Amazon (14.1%), Lowe's (12.0%).

## SEC filing metadata
- accession: 0001104659-25-115005
- form_type: 8-K
- cik: 0001724786
- company_name: Synchrony Card Funding, LLC
- filed_at: 2025-11-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 6.05, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1724786/000110465925115005/0001104659-25-115005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1724786/000110465925115005/tm2530159d8_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-115005
- JSON: https://secwatch.observer/filing/0001104659-25-115005.json
- Plain text: https://secwatch.observer/filing/0001104659-25-115005.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.