Exhibit 35.2



ANNUAL COMPLIANCE CERTIFICATE



General Electric Capital Corporation (the “Servicer”)
hereby certifies as of December 31, 2014 as follows:



| | 1. | The undersigned has reviewed,
                                         for the period beginning January 1, 2014 and ending December 31, 2014 (the “Reporting
                                         Period”): (a) the activities of the Servicer as they related to the Servicing
                                         Agreement, dated as of June 27, 2003 (as amended and supplemented from time to time,
                                         the “Servicing Agreement”), between the Servicer and Synchrony Credit
                                         Card Master Note Trust (formerly known as GE Capital Credit Card Master Note Trust) and
                                         (b) the Servicer’s performance under the Servicing Agreement. Such review of the
                                         activities of the Servicer and the performance by the Servicer of its obligations under
                                         the Servicing Agreement has been made by persons under the direct supervision of the
                                         undersigned.
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | To the best knowledge of the undersigned, based on my review of the Servicer’s performance under the Servicing Agreement,
the Servicer has fulfilled all of its obligations under the Servicing Agreement in all material respects for the Reporting Period.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



This report is delivered pursuant to
Item 1123 of Regulation AB.











| | GENERAL ELECTRIC CAPITAL CORPORATION
| | ------------------------------------
| |                                     
| | By:                                 
| | Name:                               
| | Title:                              



GECC Annual Compliance Certificate