Synchrony Now Crate and Barrel’s New Go-To For Branded Cards

April 17, 2018         By: Steven Anderson

While most of us prefer our mobile payments to have some kind of app connection, there are other kinds of mobile payments to consider, like the branded credit card. Recently, Crate and Barrel took a step in that direction, reaching out to Synchrony to help provide its card-based needs. Synchrony took that particular ball and ran with it like no tomorrow, offering up not only a private-label card but also a dual-branded card for the company to use.

With the partnership established, Crate and Barrel can now offer financing options in almost 100 of its physical locations, and through its digital channels as well, a move that should help bolster sales at the upscale retailer. The Synchrony cards are expected to be available starting later this year.

Crate and Barrel’s chief financial officer Kevin Sierks noted “In making our selection, we were seeking a trusted partner that could provide both expertise in consumer financing as well as digital tools to help us continuously enhance the customer experience. With quality products and expert tips for inspired living, Crate and Barrel is passionate about helping people love how they live in moments that matter, and Synchrony’s offerings will make it easier for our customers to achieve those moments.”

 

Given that shoppers are spending over $150 billion a year on average using store-branded credit cards, based on word from CreditCards.com, the idea of bringing out a branded credit card option isn’t so outlandish as it might seem. Basically, Crate and Barrel is giving its customers what they want. Why it didn’t jump to a mobile payments app is unclear—it’s already got a pretty robust web presence, with even a 3D virtual room designer system—but maybe that’s for later. After all, you’ve got to start somewhere, and given the sheer numbers being spent on store-branded cards, Crate and Barrel may well have just figured this was the place to start.

 

At any rate, Crate and Barrel shoppers have one more option for shopping, and one that may well better mesh with the customers’ preferences.