Exhibit 10.1

EXECUTION COPY

AMENDMENT NO. 1 TO CREDIT AGREEMENT

This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “ Amendment ”), dated as of October 1, 2014, is by and among Synchrony Financial, a Delaware corporation (the “ Borrower ”), General Electric Capital Corporation, as Lender (in such capacity, the “ Lender ”), and administrative agent (in such capacity, the “ Administrative Agent ”).

RECITALS

A. The Borrower, the Administrative Agent and the Lender entered into that certain Credit Agreement, dated as of July 30, 2014 (as amended, supplemented, restated or otherwise modified from time to time, the “ Credit Agreement ”), pursuant to which, among other things, the Lender provided certain Loans to the Borrower.

B. The Borrower and the Lender have agreed to amend certain provisions of the Credit Agreement upon the terms and conditions set forth below.

NOW THEREFORE, in consideration of the matters set forth in the recitals and the covenants and other provisions herein set forth, and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

AGREEMENT

Section 1. Definitions . Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement.

Section 2. Amendments to Credit Agreement . Effective as of the Amendment No. 1 Effective Date (as defined below):

“ Amendment No. 1 ” means Amendment No. 1 to this Agreement dated as of October 1, 2014.

“ Amendment No. 1 Effective Date ” means October 1, 2014, the date of effectiveness of Amendment No. 1.

“ Bank Facility Increase Loans ” means the Loans borrowed under the Bank Term Loan Agreement after the Funding Date in an aggregate principal amount not to exceed $750,000,000.

“ Bank Term Loans ” means “Loans” as defined in the Bank Term Loan Agreement in an aggregate principal amount not to exceed $8,000,000,000, plus the principal amount of any Bank Facility Increase Loans, and in each case, reduced by the amount of prepayments made thereunder from time to time after the Funding Date.

“The net cash proceeds of any Bank Facility Increase Loans shall be (i) applied to prepay outstanding principal amounts of the Loans and due and unpaid interest on such amount prepaid and (ii) disregarded for all purposes of Section 2.05(d) above, including in the calculation of the Required Prepayment Amount.”

Section 3. Conditions Precedent . This Amendment shall be effective upon the satisfaction of the following conditions (the first day on which such conditions are satisfied, the “Amendment No. 1 Effective Date”):

(a.) the delivery to the Administrative Agent of duly executed signature pages to this Amendment from the Borrower and the Lender; and

(b.) the Administrative Agent shall have received a certificate, dated the Amendment No. 1 Effective Date and signed on behalf of the Borrower by a Responsible Officer of the Borrower, confirming that at the time of and immediately after giving effect to this Amendment, (i) the representations and warranties of the Borrower set forth in Article III of the Credit Agreement shall be true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects) on and as of the Amendment No. 1 Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects) as of such earlier date and (ii) no Default shall have occurred and be continuing.

Section 4. Miscellaneous .

(a.) Counterparts . This Amendment may be executed in any number of counterparts and by the different parties on separate counterparts, and each such counterpart shall be deemed to be an

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original, but all such counterparts shall together constitute but one and the same Amendment. Delivery of an executed counterpart of this Amendment by facsimile or electronic mail shall be as effective as delivery of an original executed counterpart to this Amendment.

(b.) Severability . The illegality or unenforceability of any provision of this Amendment or any instrument or agreement required hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Amendment or any instrument or agreement required hereunder.

(c.) Entire Agreement . This Amendment, together with the Credit Agreement (as modified hereby) and the other Loan Documents, embodies the entire agreement and understanding among the parties hereto and supersedes all prior or contemporaneous agreements and understandings of such Persons, verbal or written, relating to the subject matter hereof.

(d.) References . This Amendment is a Loan Document. Any reference to the Credit Agreement contained in any notice, request, certificate, or other document executed concurrently with or after the execution and delivery of this Amendment shall be deemed to include this Amendment unless the context shall otherwise require. Any reference set forth in this Amendment, the Credit Agreement or any other Loan Document to this Amendment shall be a reference to the Credit Agreement as amended hereby and as further amended, modified, restated, supplemented or extended from time to time.

(e.) Governing Law . This Amendment and the rights and obligations of the parties hereunder shall be governed by, and shall be construed and enforced in accordance with, the laws of the State of New York.

[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

[SIGNATURE PAGE TO AMENDMENT NO. 1]

[SIGNATURE PAGE TO AMENDMENT NO. 1]

SCHEDULE 6.02

INDEBTEDNESS

Bank Term Loans

Exhibit 10.2

EXECUTION VERSION

AMENDMENT NO. 1 TO CREDIT AGREEMENT

This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “ Amendment ”), dated as of October 1, 2014, is by and among Synchrony Financial, a Delaware corporation (the “ Borrower ”), the Lenders party hereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “ Administrative Agent ”).

RECITALS

A. The Borrower, the Administrative Agent and the Lenders party thereto entered into that certain Credit Agreement, dated as of July 30, 2014 (as amended, supplemented, restated or otherwise modified from time to time, the “ Credit Agreement ”), pursuant to which, among other things, the Lenders provided certain Loans to the Borrower.

B. The Borrower and the Lenders party hereto have agreed to amend certain provisions of the Credit Agreement upon the terms and conditions set forth below to, among other things, permit the incurrence of up to an additional $750,000,000 of Loans under the Credit Agreement and modify the limitations on prepayments of the GECC Term Loan.

NOW THEREFORE, in consideration of the matters set forth in the recitals and the covenants and other provisions herein set forth, and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

AGREEMENT

Section 1. Definitions . Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement.

Section 2. Amendments . Effective as of the Amendment No. 1 Effective Date, the Credit Agreement is hereby amended by adding the following new Section 2.16:

“SECTION 2.16. Term Facility Increase . Each Lender executing a joinder agreement substantially in the form of Annex A to Amendment No. 1 to this Agreement (a “ Facility Increase Joinder ” and such Lender, a “ Facility Increase Lender ”) may extend additional term loans (“ Facility Increase Loans ”) to the Borrower from time to time on or after the effectiveness of Amendment No. 1 to this Agreement; provided that (i) the aggregate principal amount of Facility Increase Loans extended pursuant to this Section 2.16 shall not exceed $750,000,000, (ii) it shall be a condition precedent to the incurrence of any Facility Increase Loans that no Default or Event of Default shall have occurred and be continuing immediately prior to or immediately after giving effect to the incurrence of such Facility Increase Loans and (iii) the net cash proceeds of the Facility Increase Loans shall be immediately applied to prepay outstanding principal amounts under the GECC Term Loan and to pay due and unpaid interest on the amount so prepaid (and the Borrower may borrow such Facility Increase Loans and use the proceeds thereof for such payments notwithstanding Sections 6.02 and 6.06). For the avoidance of doubt, the Facility Increase Loans shall be excluded from the definition of “Post-IPO Debt Proceeds” and shall otherwise be disregarded for all purposes of Sections 2.05(b) and (d), including the calculation of the Required Prepayment Amount. Upon the incurrence of any Facility Increase Loan, (i) each Facility Increase Lender shall constitute a “Lender” for all purposes hereunder and under any other Loan Document and (ii) the Facility Increase Loans shall constitute “Loans” for all purposes hereunder and under any other Loan Document.

Section 3. Consents . The Administrative Agent and the Lenders party hereto consent to the amendments to the GECC Term Loan Agreement substantially in the form attached hereto as Annex B, including as required by Section 6.05 of the Credit Agreement.

Section 4. Conditions Precedent . This Amendment shall be effective upon the satisfaction of the following conditions (the “ Amendment No. 1 Effective Date ”):

(a.) the delivery to the Administrative Agent of duly executed signature pages to this Amendment from the Borrower and Lenders comprising the Required Lenders;

(b.) the Administrative Agent shall have received a certificate, dated the Amendment No. 1 Effective Date and signed on behalf of the Borrower by a Responsible Officer of the Borrower, confirming that at the time of and immediately after giving effect to this Amendment, (i) the representations and warranties of the Borrower set forth in Article III of the Credit Agreement shall be true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects) on and as of the Amendment No. 1 Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects) as of such earlier date and (ii) no Default shall have occurred and be continuing;

(c.) the Administrative Agent shall have received a customary written opinion (addressed to the Administrative Agent and the Facility Increase Lenders and dated the Amendment No. 1 Effective Date) of Sidley Austin LLP, counsel to the Borrower; and

(d.) the Administrative Agent shall have received, to the extent invoiced, payment or reimbursement of all fees and expenses (including fees, charges and disbursements of counsel) required to be paid or reimbursed by the Borrower under the Credit Agreement or as otherwise agreed.

Section 5. Effect of Amendment; No Novation . Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or any other party under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement as amended hereby or any other Loan Document in similar or different circumstances.

Section 6. Miscellaneous .

(a.) Counterparts . This Amendment may be executed in any number of counterparts and by the different parties on separate counterparts, and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Amendment. Delivery of an executed counterpart of this Amendment by facsimile or electronic mail shall be as effective as delivery of an original executed counterpart to this Amendment.

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(b.) Severability . The illegality or unenforceability of any provision of this Amendment or any instrument or agreement required hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Amendment or any instrument or agreement required hereunder.

(c.) Entire Agreement . This Amendment, together with the Credit Agreement (as modified hereby) and the other Loan Documents, embodies the entire agreement and understanding among the parties hereto and supersedes all prior or contemporaneous agreements and understandings of such Persons, verbal or written, relating to the subject matter hereof.

(d.) References . Each reference in the Credit Agreement to “this Agreement”, “hereof”, “hereunder”, “herein” and “hereby” and each other similar reference, and each reference in any other Loan Document to “the Credit Agreement”, “thereof”, “thereunder”, “therein” or “thereby” or any other similar reference to the Credit Agreement shall, from the Amendment No. 1 Effective Date, refer to the Credit Agreement as amended hereby (the “ Amended Credit Agreement ”). This Amendment shall constitute a “Loan Document” for all purposes under the Amended Credit Agreement

(e.) Governing Law . This Amendment and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the law of the State of New York.

[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

[SIGNATURE PAGE TO AMENDMENT NO. 1]

[SIGNATURE PAGE TO AMENDMENT NO. 1]

[SIGNATURE PAGE TO AMENDMENT NO. 1]

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[SIGNATURE PAGE TO AMENDMENT NO. 1]

Annex A

[FORM OF] LENDER JOINDER AGREEMENT

This Lender Joinder Agreement (this “ Agreement ”), dated as of [             ,     ], is delivered in connection with the Credit Agreement, dated as of July 30, 2014 (as amended and as the same may be further amended, restated, supplemented or otherwise modified from time to time, the “ Credit Agreement ”) by and among Synchrony Financial, a Delaware corporation (the “ Borrower ”), the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A. (together with its permitted successors in such capacity, the “ Administrative Agent ”) and is entered into by and among [NAME OF FACILITY INCREASE LENDER] (the “ Facility Increase Lender ”, the Administrative Agent and the Borrower. Capitalized terms used herein and not otherwise defined herein are used herein as defined in the Credit Agreement.

WHEREAS, the Facility Increase Lender has agreed to advance loans to the Borrower pursuant to Section 2.16 of the Credit Agreement in an aggregate principal amount set forth on the signature page hereto (the “ Facility Increase Commitment Amount ”) and wishes to become a party to the Credit Agreement.

NOW, THEREFORE, in consideration of the above premises, the parties hereto hereby agree as follows:

[S IGNATURE P AGES F OLLOW ]

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I N W ITNESS W HEREOF , the parties to this Agreement have caused it to be executed by their duly authorized officers as of the day and year first written above.

[S IGNATURE P AGE TO L ENDER J OINDER A GREEMENT ]

[S IGNATURE P AGE TO L ENDER J OINDER A GREEMENT ]

[S IGNATURE P AGE TO L ENDER J OINDER A GREEMENT ]

[Note: The following parties have executed a Lender Joinder Agreement:

Annex B

Amendments to GECC Term Loan Agreement

[See attached]