Complete Auto Care and Fuel-Ups Available with New Synchrony Car Care™ Card
16 March 2017 - 7:30AM
Business Wire
Accepted at over 25,000 automotive service,
tire and repair locations and for fuel purchases nationwide
As the number of drivers and average age of vehicles1 on the
road continues to rise, so can auto-related maintenance and fuel
costs. The new Synchrony Car Care credit card launched by Synchrony
Financial (NYSE:SYF), a premier consumer financial services
company, offers motorists the convenience of one card to pay for
comprehensive auto care at thousands of service and parts
locations, as well as fuel at gas stations nationwide.
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Complete auto care and fuel-ups available
with new Synchrony Car Care Card. (Photo: Business Wire)
The new Synchrony Car Care card replaces the CarCareONE® card,
leveraging the existing network that has helped millions of
consumers finance automotive aftermarket parts and services for
more than three decades. The new program expands utility and
enhances benefits, while building on the same core value
proposition of special financing for purchases of $199 or more.2 It
is evolving to meet the needs of drivers for a dedicated payment
solution for everyday gas purchases and an expanded acceptance
network for both planned and unexpected automotive expenses.
The Synchrony Car Care credit card is issued and serviced by
Synchrony Bank. As part of the launch, Synchrony has worked with
Discover Global Network®, the third largest payments network in the
world, to provide greater acceptance within the fuel segment. In
addition to acceptance at thousands of merchants in the Synchrony
Car Care network, the new card can be used for purchases at gas
stations nationwide everywhere Discover is accepted.
“The Synchrony Car Care card is an important financial resource
for drivers to maintain or improve their vehicles, and manage their
family’s auto spending needs with one convenient payment method,”
said Glenn Marino, executive vice president and CEO, Payment
Solutions, for Synchrony Financial. “Consumer and merchant input
has been vital in enhancing this market-leading program in ways
that provide greater value and flexibility to both car owners and
service providers.”
“Discover offers innovative solutions that help businesses grow,
and we’re excited to be working with Synchrony Financial on
expanding acceptance for their new Synchrony Car Care card,” said
Diane Offereins, president of Payment Services at Discover.
Nearly three million existing cardholders nationwide will be
able to use Synchrony Car Care across a broader acceptance network
to get gas conveniently, and for all auto-related needs at their
preferred service providers and online retailers. From independent
auto specialists to full-service chains, businesses in the
Synchrony Car Care network span over 25,000 service and parts
locations throughout the United States, including Puerto Rico, and
more than 185,000 fuel stations nationwide. An updated mobile app
enables users to locate nearby network partners, track expenses,
manage their account and access offers via their mobile device.
Detailed information, including a business locator and credit
application, is available at mysynchrony.com/carcare.
Research conducted with automotive (tire/wheels, service and
parts) cardholders for Synchrony Financial shows the importance of
financing in the automotive sector and in driving customer
satisfaction:
- Among automotive cardholders surveyed
as part of Synchrony’s Major Purchase Consumer Study,3 one-third
(33%) report they would not have made a major purchase (more than
$500), or would have gone to another retailer if financing were not
available. More than 70% of automotive cardholders say they
“always” seek promotional financing when making a major purchase,
and 88% said promotional financing made their large purchases more
affordable.
- Recent feedback4 from Synchrony
automotive cardholders confirms 90% are satisfied with the card and
88% are satisfied with the in-store experience when using the
card.
1IHS Markit – Average age and vehicles in operation based on a
snapshot of vehicles in operation on Jan. 1, 2016, the most recent
analysis from IHS Markit.2 Subject to credit approval. Gas station
purchases are not eligible for promotional financing. Minimum
monthly payments required. See merchant or mysynchrony.com/carcare
for promotional financing details and merchant locations.3Synchrony
Financial Fifth Annual Major Purchase Consumer Study, conducted
June-July 2016 by a third party, reflects the experience of
shoppers surveyed making or planning to make a purchase of
$500+.4Synchrony Automotive Cardholder Satisfaction Study, February
2017.
About Synchrony Financial
Synchrony Financial (NYSE:SYF) is one of the nation’s premier
consumer financial services companies. Our roots in consumer
finance trace back to 1932, and today we are the largest provider
of private label credit cards in the United States based on
purchase volume and receivables.* We provide a range of credit
products through programs we have established with a diverse group
of national and regional retailers, local merchants, manufacturers,
buying groups, industry associations and healthcare service
providers to help generate growth for our partners and offer
financial flexibility to our customers. Through our partners’ over
350,000 locations across the United States and Canada, and their
websites and mobile applications, we offer our customers a variety
of credit products to finance the purchase of goods and services.
Synchrony Financial offers private label and co-branded Dual Card™
credit cards, promotional financing and installment lending,
loyalty programs and FDIC-insured savings products through
Synchrony Bank. More information can be found at
www.synchronyfinancial.com, facebook.com/SynchronyFinancial,
www.linkedin.com/company/synchrony-financial and
twitter.com/SYFNews.
*Source: The Nilson Report (May 2016, Issue # 1087) – based on
2015 data.
©2017 Synchrony Bank/Synchrony Financial. All rights
reserved.
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For Synchrony Financial:Cristy Williams,
855-791-8007media.relations@synchronyfinancial.com
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