CHICAGO & STAMFORD, Conn. --BP has forged an agreement with consumer financial services company Synchrony Financial, formerly GE Capital Retail Finance, to provide private-label credit card and co-branded credit programs for consumers nationwide.
The new BP credit-card programs will launch in the second quarter of 2015 and will include the BP private-label credit card and co-branded options, which can be used for purchases at more than 7,000 BP locations as well as other retail locations.
"We're pleased to partner with an experienced team to bring our customers valuable rewards and the convenience of a dedicated line of credit to use for all of their fuel, service and convenience store purchases," said Helen Fitzpatrick, marketing director of product and offer development for BP.
"We look forward to working with BP and its network to provide drivers with credit and reward options that maximize their savings," said Tom Quindlen, CEO for retail cards with Synchrony Financial. "We have deep experience in the oil and gas and retail industries. This transaction will grow Synchrony Financial's presence in the segment, with a renowned provider of fuel products for over a century."
Synchrony Financial, Stamford, Conn., provides a range of credit products through programs it has established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. Through its partners' more than 300,000 locations across the United States and Canada, and their websites and mobile applications, it offers a variety of credit products to finance the purchase of goods and services. Offerings include private-label and co-branded dual credit cards, promotional financing and installment lending, loyalty programs and Optimizer+plus branded FDIC-insured savings products through Synchrony Bank.
With U.S. headquarters in La Palma, Calif. (West), and Warrenville, Ill. (East), BP markets more than 15 billion gallons of gasoline every year to U.S. consumers through more than 11,000 BP- and ARCO-branded retail outlets and supplies more than four billion gallons of fuel annually to fleets, industrial users, auto and truck manufacturers, railroads and utilities.
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