February 2, 2015, 9:00 AM EST
Synchrony Financial and Rooms To Go Extend Consumer Financing Agreement
STAMFORD, Conn. & SEFFNER, Fla.
Public Company Information:
STAMFORD, Conn. & SEFFNER, Fla.--(BUSINESS WIRE)--Synchrony Financial (NYSE: SYF), a premier consumer financial services company with 80 years of retail heritage, announced a multi-year renewal of its private label credit card program with Rooms To Go. Under the agreement, Synchrony Financial will continue providing consumer financing solutions through Rooms To Go’s showrooms in the U.S. and Puerto Rico.
The program launched in 2002, and offers Rooms To Go customers special financing options on home furnishings purchases. Cardholders benefit from exclusive offers and extended terms with digital capabilities to manage their account and shop in a showroom, online and on their mobile device.
“Rooms To Go recognizes the value that a strong financing program provides its customers,” said Glenn Marino, executive vice president & CEO of Synchrony Financial’s Payment Solutions division. “We know through our breadth of relationships and decades in home furnishings that the availability of financing is an important factor in making a furniture purchase.”
In fact, 77 percent of cardholders surveyed* “always seek promotional financing” when making a major home furnishings purchase and conduct extensive research online and in-store, searching furniture styles and financing options.
“Partnering with Synchrony Financial has been important to our growth and helped us focus on offering customers the right furnishings at the right price with attractive payment options and easy-to-use account management tools,” said Jeffrey Seaman, CEO of Rooms To Go. “We look forward to continue working together to develop financing programs that build sales and deliver convenience and value for our customers.”
About Rooms To Go
Founded in 1991, Rooms To Go Corporation is America's #1 independent furniture company with the nation's largest furniture inventory. With over 150 locations, the company offers stylish furniture at everyday low prices, original room packages, superior service and fast delivery. The retailer is also the leader in children's furniture through Rooms To Go Kids and offers the widest array of themed room packages for children in the United States. For more information about the company, please visit www.roomstogo.com and twitter.com/RoomsToGo.
About Synchrony Financial
Synchrony Financial (NYSE: SYF), formerly GE Capital Retail Finance, 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 and co-branded 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.
*Synchrony Financial’s third annual 2014 Major Purchase Consumer Study, conducted by a third party, reflects the experience of consumers making purchases valued at $500+ in one of 12 categories, including Home Furnishings.
©2015 Synchrony Bank/Synchrony Financial, All rights reserved.
For Synchrony Financial
Cristy Williams, 855-791-8007