The continued partnership aims to enhance the shopping experience by offering rewards and facilitating easy access to products and services. With Synchrony trading near its 52-week high and showing strong momentum, InvestingPro subscribers can access 10+ additional exclusive insights and a comprehensive Pro Research Report that provides deep-dive analysis of Synchrony's financial health and growth prospects. This announcement is based on a press release statement, and for more information on the credit card program, individuals can visit the Sam's Club website. The renewal will maintain Synchrony as the issuer for Sam's Club's various credit card programs, which are available at over 600 locations throughout the United States and Puerto Rico, as well as online and via the Sam's Club mobile app.
The collaboration focuses on delivering a seamless shopping and credit experience for Sam's Club members, leveraging Synchrony's technological advancements. These include integration with Sam's Club's Scan & Go™ technology, allowing members to scan items and pay using their Sam's Club credit card through their mobile devices, bypassing traditional checkout lines.
Additionally, Synchrony's proprietary SyPI and dApply technologies enable members to manage their credit accounts within the Sam's Club app, streamlining credit applications and transactions. Sam's Club Mastercard (NYSE:MA)® holders can earn up to 5% back in Sam's Cash on fuel purchases, 3% on dining, and 1% on other purchases. Plus members also receive up to 5% rewards on eligible Sam's Club purchases, combining credit card and Plus membership benefits.
Kara Kazazean, Vice President of Financial Services at Sam's Club, highlighted the focus on creating an optimal shopping experience for members, emphasizing the convenience and security of the Sam's Club credit card. Courtney Gentleman, Executive Vice President and CEO of Diversified & Value platform at Synchrony, echoed the sentiment, underscoring the value and convenience provided to Sam's Club members.
The continued partnership aims to enhance the shopping experience by offering rewards and facilitating easy access to products and services. With Synchrony trading near its 52-week high and showing strong momentum, InvestingPro subscribers can access 10+ additional exclusive insights and a comprehensive Pro Research Report that provides deep-dive analysis of Synchrony's financial health and growth prospects. This announcement is based on a press release statement, and for more information on the credit card program, individuals can visit the Sam's Club website.
In other recent news, Synchrony Financial (NYSE:SYF) has announced dividends for its common and preferred stock, maintaining its dividend payments for the ninth consecutive year. The company declared a quarterly cash dividend of $0.25 per share on common stock and dividends on its preferred stocks. Synchrony Financial also recently reported strong third-quarter earnings, declaring net earnings of $789 million and exceeding consensus estimates. Consequently, the company revised its full-year 2024 earnings per share (EPS) guidance upwards to a range of $8.45-$8.55.
Several analyst firms have also recently evaluated Synchrony Financial. Truist Securities initiated coverage on the company with a Hold rating, while Morgan Stanley (NYSE:MS) upgraded the company's stock from Equalweight to Overweight, citing anticipated EPS upside. In contrast, Goldman Sachs maintained a Buy rating, highlighting better-than-expected delinquency rates and net charge-offs slightly below the seasonal trend.
Despite these positive developments, Synchrony Financial anticipates a low single-digit decline in purchase volume for Q4, reflecting ongoing challenges in consumer spending and credit performance. These are among the recent developments regarding Synchrony Financial.
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