Synchrony Introduces Car Care Card
Recent research shows the average age of cars on the road has risen to 11.6 years, and Synchrony Financial knows that means many drivers will face repair costs. In responses, they have launched the Synchrony Car Care credit card, which allows drivers to pay for automotive repairs at a number of service stations across the country.
The Synchrony Car Care card will be accepted at 25,000 service and parts locations in the United States and Puerto Rico. The financial institution has also partnered with Discover to offer card holders greater acceptance, which means the card will also be accepted at more than 185,000 fueling stations across the country.
Synchrony’s Major Purchase Consumer Study has found this financing option is important to consumers. One-third of the respondents said they would not have made a major purchase over $500 if financing were not available, and more than 70% said they “always” seek promotional financing before making a major purchase. The vast majority (88%) said promotional financing makes large purchases more affordable.
“The Synchrony Car Care card is an important financial resource for drivers to maintain or improve their vehicles, and manage their family’s auto spending needs with one convenient payment method,” said Glenn Marino, executive vice president and CEO, Payment Solutions, for Synchrony Financial. “Consumer and merchant input has been vital in enhancing this market-leading program in ways that provide greater value and flexibility to both car owners and service providers.”