Synchrony and JTV Extend Credit Card Program
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.”
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