Benzinga | Jul 15, 2021 09:03AM EDT

Synchrony Financial Says Renews Decade-Long Consumer Financing Strategic Partnership Wit The TJX Companies; Terms Not Disclosed

Synchrony (NYSE:SYF), a premier consumer financial services company, today announced a multi-year extension of their consumer financing program with The TJX Companies, Inc., the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The relationship began in 2011.

As part of the renewal, Synchrony will continue to be the exclusive provider of the TJX Rewards(r) and TJX Rewards MasterCard(r) credit card programs for TJX customers. Qualifying cardholders can continue to access loyalty rewards with a TJX Rewards(r) or TJX Rewards MasterCard(r) credit card for use in T.J. Maxx, Marshalls, HomeGoods, Homesense and Sierra stores, as well as the company's e-commerce sites in the United States. Access to mobile account management and other exclusive benefits will not change.*

Cardholders can earn $10 in rewards certificates when they spend $200 at any of TJX's five U.S. retail chains. Additionally, holders of the TJX Rewards MasterCard can earn points on purchases made outside of TJX's retail chains, anywhere MasterCard is accepted.

Synchrony continues to deepen strategic investments in the TJX program to make the consumer experience more seamless by expanding and advancing digital capabilities. These offerings include contactless cards and digitizing rewards. As part of the expansion to digital rewards, the TJX Rewards credit card allows customers to shop, earn, and access Reward Certificates digitally in 48 hours or less.

"This renewal builds on 10 years of co-innovation and partnership, and further strengthens our position as a trusted leader in consumer financing," said Tom Quindlen, Executive Vice President and CEO of Diversified & Value and Lifestyle platforms at Synchrony. "As the retail landscape continues to evolve, we look forward to working with TJX to meet new customer demands with strong benefits, superior customer service and payment flexibility."

Synchrony issues two different types of credit cards available through TJX: Private label TJX Rewards (r) credit card and co-branded TJX Platinum Rewards MasterCard (r) credit card.

*Purchases subject to credit approval. See Rewards Program Terms for details.