SYF - J.Crew Group Partners with Synchrony and Mastercard® for New Credit Card Program | Benzinga
Companies Announce New Multi-Year Consumer Financing Program;
Synchrony To Become Exclusive Issuer of J.Crew And J.Crew Factory Credit Cards;
Co-Branded Credit Card Program To Provide Rewards and Benefits For Purchases Made Outside of J.Crew Group, Wherever Mastercard Is Accepted
NEW YORK, PURCHASE, N.Y. and STAMFORD, Conn., Nov. 29, 2023 /PRNewswire/ -- J.Crew Group, today announced it has entered into a new, multi-year credit card program agreement with Synchrony (NYSE:SYF) and Mastercard (NYSE:MA). J.Crew Group and Synchrony will partner on a private label credit card program, and together with Mastercard, the companies will launch a co-branded credit card designed for J.Crew and J.Crew Factory customers in the first half of 2024.
As part of this partnership, Synchrony will acquire J.Crew's existing credit portfolio. Synchrony will also provide J.Crew with a full suite of digital capabilities including mobile wallet provisioning, robust pre-approval capabilities, Scan to Apply and direct to a customer's device credit application options.
The partnership with Mastercard also marks the first time that a new J.Crew Group co-branded card will be available to make purchases outside of J.Crew ...