Synchrony and JTV Extend Credit Card Program
Companies to Leverage Analytics to Streamline and Personalize the Customer Experience
Companies Celebrate Five Years of Growth Under Card Program
STAMFORD, Conn. and KNOXVILLE, Tenn., May 31, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and JTV, the national jewelry retailer and broadcast network, today announced the renewal of a strategic partnership first launched in 2018. Under the multi-year agreement, Synchrony will continue providing a private label credit card program for customers that shop with JTV online and through TV broadcasts.
The renewed partnership will focus on driving growth through the digital transformation of payment solutions and data sharing to facilitate enhanced personalization. For example, consumers on a budget want to know what they can afford by using promotional financing. Synchrony offers the ability for JTV consumers to apply for credit and financing before they purchase. Additionally, Synchrony's partnership with JTV allows consumers to receive a real-time pre-approval during their shopping experience within seconds with no impact to their credit score.
The JTV Preferred Account credit card has no annual fee. Some of the key features include:
- An acquisition bonus when you open and use your JTV Preferred Account;
- Zero interest if paid in full within six months with no minimum purchase;
- Zero interest if paid in full within 12 months on purchases $299 or higher; and
- Exclusive Preferred Account offers throughout the year.
During the past five years, JTV has seen Preferred Account cardholders represent their most loyal customers with significant growth in purchase frequency and Customer Lifetime Value as compared to Non-Preferred Account customers.
Tolly Harris, Senior Vice President, Customer Care and Operations at JTV expressed enthusiasm about continuing the strategic partnership with Synchrony, stating, "At JTV, our mission is to open the world of jewelry and gemstones to everyone through extraordinary products at extraordinary prices. The JTV Preferred Account makes our products even more affordable and empowers our customers to purchase jewelry that celebrates milestones and creates future heirlooms, no matter their budget."
"We are proud of the long-standing partnership Synchrony has with JTV. Together, we have created a valuable program that drives growth and allows consumers to purchase jewelry on a budget," said Maggie Kassebaum, Senior Vice President and General Manager, Synchrony. "We are committed to further enhancing our partnership with JTV by leveraging shared data to better predict customer needs and create solutions that drive engagement and loyalty."
JTV (Jewelry Television®) is a leading retailer of jewelry and gemstones in the United States. With a proven 29-year history, JTV leverages an omni-digital strategy designed to elevate the customer experience through holistic, digitally driven touch points, including live TV programming, 24 hours a day, seven days a week to approximately 95 million U.S. and Canadian households, an industry leading mobile optimized e-commerce platform, and a robust and engaging social media presence. As part of its commitment to customer satisfaction and the development and distribution of educational content, the company employs numerous Graduate Gemologists and Accredited Jewelry Professionals. For more information, visit JTV.com and JTV's social media channels: Facebook, Instagram, YouTube, Twitter, Pinterest and LinkedIn.
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.
5W Public Relations
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Released May 31, 2023