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Synchrony Financial (SYF) Expands Tie-Up for Better Services
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Synchrony Financial (SYF - Free Report) recently entered into a multi-year extension of its former alliance with CITGO Petroleum Corporation to solidify its commitment to provide better purchasing options to CITGO customers.
Notably, CITGO is a refiner, transporter and marketer of transportation fuels, lubricants and petrochemicals based in the United States.
The miscellaneous financial services provider will continue to conduct the CITGO Rewards Credit Card Program. It will expand the plan to even include the perks of Synchrony Car Care.
Cardholders will get a newly designed CITGO-branded EMV chip-enabled card along with better security, safety and lucrative cardholder reward systems. They can also enjoy promotional financing and purchase anywhere at Synchrony’s significantly wide network of more than one million automotive merchants and partners in the United States.
CITGO Rewards cardholders will also be able to save on every fillup apart from reaping other benefits. The best part is that the new cards will allow cardholders to use more than 500,000 ATMs across the United States through the PULSE Network. Individuals using the cards will automatically be eligible for deferred interest promotional financing for the first six months if they buy non-fuel goods and services costing $199 or above.
It is not the first time that Synchrony extended partnerships to enhance its presence and boost its portfolio. It always takes measures to enrich the experience of cardholders.
In the first quarter of 2021 itself, it renewed 10 programs including American Eagle, Ashley HomeStore, and Phillips 66. Its series of acquisitions and renewal of alliances helped it enhance its digital capabilities and diversify its business.
In the past, it partnered with several biggies, such as PayPal and Venmo, which in turn, continue to transform the payment experience for its customers. It became the card issuer of Walgreens co-branded credit card program in the United States. The company also revised its tie-ups with Mattress Firm, Ashley Home Furniture, American Eagle, Ashley HomeStore, CITCO, etc. It added 3900 merchants in the March quarter.
All these measures make this presently Zacks Rank #3 (Hold) company a leading industry player.
Notably, one of Synchrony’s peers Discover Financial Services (DFS - Free Report) also recently tied up with a few companies to expand its presence in Bahrain.
Price Performance
Shares of this company have soared a whopping 138.2% in a year’s time compared with the industry’s rally of 10.9%. Moreover, several factors, such as its capital position, restructuring initiatives, a solid Retail Card Platform and CareCredit Platforms will likely help the stock continue with its rally going forward. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Better-ranked stocks in the same space include Jefferies Financial Group Inc. (JEF - Free Report) and Moodys Corporation (MCO - Free Report) . While Jefferies Financial sports a Zacks Rank #1, Moodys holds a Zacks Rank #2 (Buy).
Jefferies Financial and Moodys Corporation delivered a trailing four-quarter surprise of 341.3% and 22.3%, respectively, on average.
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Synchrony Financial (SYF) Expands Tie-Up for Better Services
Synchrony Financial (SYF - Free Report) recently entered into a multi-year extension of its former alliance with CITGO Petroleum Corporation to solidify its commitment to provide better purchasing options to CITGO customers.
Notably, CITGO is a refiner, transporter and marketer of transportation fuels, lubricants and petrochemicals based in the United States.
The miscellaneous financial services provider will continue to conduct the CITGO Rewards Credit Card Program. It will expand the plan to even include the perks of Synchrony Car Care.
Cardholders will get a newly designed CITGO-branded EMV chip-enabled card along with better security, safety and lucrative cardholder reward systems. They can also enjoy promotional financing and purchase anywhere at Synchrony’s significantly wide network of more than one million automotive merchants and partners in the United States.
CITGO Rewards cardholders will also be able to save on every fillup apart from reaping other benefits. The best part is that the new cards will allow cardholders to use more than 500,000 ATMs across the United States through the PULSE Network. Individuals using the cards will automatically be eligible for deferred interest promotional financing for the first six months if they buy non-fuel goods and services costing $199 or above.
It is not the first time that Synchrony extended partnerships to enhance its presence and boost its portfolio. It always takes measures to enrich the experience of cardholders.
In the first quarter of 2021 itself, it renewed 10 programs including American Eagle, Ashley HomeStore, and Phillips 66. Its series of acquisitions and renewal of alliances helped it enhance its digital capabilities and diversify its business.
In the past, it partnered with several biggies, such as PayPal and Venmo, which in turn, continue to transform the payment experience for its customers. It became the card issuer of Walgreens co-branded credit card program in the United States. The company also revised its tie-ups with Mattress Firm, Ashley Home Furniture, American Eagle, Ashley HomeStore, CITCO, etc. It added 3900 merchants in the March quarter.
All these measures make this presently Zacks Rank #3 (Hold) company a leading industry player.
Notably, one of Synchrony’s peers Discover Financial Services (DFS - Free Report) also recently tied up with a few companies to expand its presence in Bahrain.
Price Performance
Shares of this company have soared a whopping 138.2% in a year’s time compared with the industry’s rally of 10.9%. Moreover, several factors, such as its capital position, restructuring initiatives, a solid Retail Card Platform and CareCredit Platforms will likely help the stock continue with its rally going forward. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Better-ranked stocks in the same space include Jefferies Financial Group Inc. (JEF - Free Report) and Moodys Corporation (MCO - Free Report) . While Jefferies Financial sports a Zacks Rank #1, Moodys holds a Zacks Rank #2 (Buy).
Jefferies Financial and Moodys Corporation delivered a trailing four-quarter surprise of 341.3% and 22.3%, respectively, on average.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency have sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>