| Synchrony Financial (NYSE: SYF) has roots that date back to 1932. The company was founded by GE Capital Retail Bank during the Great Depression to provide cash-strapped customers a line of credit to purchase GE appliances. For the following eight decades, Synchrony operated under the GE corporate umbrella. Then, in 2014, GE spun off the Synchrony business as a stand-alone company. Like many people, my wife has never heard of Synchrony Financial. Yet she has been a loyal customer for years and years. That is because Synchrony Financial controls nearly one-half of the private-label credit card market. A few years ago, my wife signed up for an Amazon credit card. With it, my family receives 5% back on Amazon purchases plus some other interesting perks. We have been able to save hundreds of dollars just from our regular purchases. That Amazon credit card was issued by Synchrony Financial. Thus, we have been banking with Synchrony for half a decade. Amazon is just one of Synchrony's partners. The top five companies that Synchrony handles cards for are Amazon, PayPal, Lowe's, Sam's Club and J.C. Penney. These are powerful relationships for Synchrony. Undoubtedly, Synchrony has a lot going for it... But is it as overvalued as some of its powerhouse partners? | 
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