Synchrony Financial to Award $100,000 Through Engage with Car Pros Campaign

Contest celebrates stories of exemplary service in the automotive repair industry

STAMFORD, Conn.--(BUSINESS WIRE)-- Synchrony Financial (NYSE: SYF) today announced the Engage with Car Pros Contest through its CarCareONE credit card program to recognize automotive repair shop owners who have gone above and beyond to deliver exceptional service.

Engage With Car Pros Contest is a way to recognize auto service professionals who go beyond the call of duty to keep our cars and trucks on the road longer. (Photo: Business Wire)

Beginning today, customers can submit their best car care story through February 15, 2015 online at www.engagewithcarpros.com/pro to show their appreciation for the outstanding service their automotive professionals provided. Readers will have the opportunity to vote for their favorite story from March 9 to 30, with the automotive professional who receives the most votes announced in the spring.

The automotive care location featured in the winning story will receive $100,000* and the customer who submits the winning story will also win $2,500*. Additional prizes for automotive professionals and first-place customer stories will also be awarded.

“The contest is designed to allow consumers to recognize outstanding service,” said Steven Roe, vice president and general manager of Sales for Synchrony Financial. “Hard-working professionals who keep our cars and trucks safe and on the road longer deserve recognition for a job well done.”

Automotive care shop owners interested in the contest can visit www.engagewithcarpros.com/pro to learn more and request a free contest kit, which includes signs promoting consumer participation. They can also learn more about how the CarCareONE credit card, fulfilling automotive financing needs for more than 30 years, can help build loyalty and trust with customers.

Financing plays an important role for automotive repair and aftermarket purchases, according to the third annual Major Purchase Consumer Study** commissioned by Synchrony Financial. Of those surveyed, more than 80 percent of automotive care shoppers begin their research online, reviewing product and services, as well as promotions and payment options, and spend 38 days on average before making a major purchase. Further, the findings show 76 percent of cardholders always seek promotional financing options when making an automotive service purchase and nearly half would choose not to make a purchase or go elsewhere if retail financing were not available.

*Awarded in the form of a check.

**Synchrony Financial’s Third-annual 2014 Major Purchase Consumer Study reflects the average experience of consumers making purchases valued at $500+ in one of 12 categories, including automotive care.

About Synchrony Financial

Formerly GE Capital Retail Finance, Synchrony Financial (NYSE: SYF) is one of the premier consumer financial services companies in the United States. 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’ more than 300,000 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. Our offerings include private label credit cards, promotional financing and installment lending, loyalty programs and Optimizer^+plus branded FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com and twitter.com/SYFNews.

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For Synchrony Financial
855-791-8007
media.relations@synchronyfinancial.com

Source: Synchrony Financial

Released December 18, 2014