June 7, 2021, 9:00 AM EDT
Synchrony Extends Long-Standing Financing Collaboration with Phillips 66
Synchrony and Phillips 66 sign multi-year agreement to build upon a nearly 10-year relationship
Agreement includes upgrading Phillips 66®, Conoco®, 76® and Phillips 66® Consumer and Aviation Cardholders to include Synchrony Car CareTM
HOUSTON and STAMFORD, Conn., June 7, 2021 – Synchrony (NYSE: SYF), a premier consumer financial services company, and Phillips 66 Company (NYSE: PSX), a diversified energy manufacturing and logistics company, today announced an extension of their nearly 10 year financing collaboration. As part of the extended agreement, Synchrony is offering Phillips 66®, Conoco® and 76® credit cardholders more ways to earn rewards and more places to use the card.
Synchrony recently upgraded Philips 66, Conoco and 76 consumer and Aviation branded cardholders to include Synchrony Car CareTM in April 2021. The cardholders will receive several new benefits, including improved cardholder rewards, enhanced security, promotional financing, and the ability to make purchases anywhere across Synchrony’s vast network of more than one million automotive merchants in the U.S.
Consumer Phillip 66 branded credit cardholders will now save on every gallon purchased with a Phillips 66, Conoco, 76, and Phillips 66® Aviation credit card. Cardholders will save at least $0.03/gallon via a price reduction on card swipe transactions at branded locations. They will save at least $0.05/gallon on transactions through the My Phillips 66, My Conoco and My 76 Mobile App. Cardholders can add card savings in these apps with other mobile wallet promotions to provide even greater savings.
The new Phillips 66, Conoco and 76 branded cards will include an enhanced EMV chip, offering increased security and will provide access to more than 500,000 ATMs nationwide through the PULSE® Network. Cardholders may use their new cards to make purchases at more than one million auto-related merchant locations nationwide in the Synchrony Car Care network. Cardholders will automatically qualify for deferred interest promotional financing for the first six months on purchases of non-fuel goods and services costing $199 or more.
“Our consumers’ experiences with their Phillips 66, Conoco and 76 branded credit cards are very important to us,” said Rod Palmer, general manager, Branded Marketing, Phillips 66 Company. “We value our long-standing relationship with Synchrony and extending it makes perfect sense. Adding a new layer of tightened security, access to a huge network of ATMs nationwide, and the financing options available with Synchrony Car Care will help enhance our cardholders’ satisfaction and brand loyalty.”
Since Synchrony rebranded CarCareONE as Synchrony Car Care in 2017, the dedicated payment solution has grown exponentially – from 25,000 to more than 1,000,000 automotive merchant locations nationwide. During the past four years, the no-annual-fee, zero fraud liability credit card quickly became a preferred payment option for consumers’ car care needs as Synchrony broadened its network of in-store and online automotive merchants. Synchrony also consistently added new categories, benefits, and promotional financing offers to the consumer financing program.
Synchrony Car Care allows Phillip 66, Conoco and 76 branded credit cardholders to pay for everything their car needs to stay on the go. In addition to more traditional purchases like gas, parts and service, tires, and oil changes, customers may use Synchrony Car Care for parking, car washes, public transportation, car rentals, rideshare, tolls, auto insurance, and much more.
“Synchrony is proud to deepen our relationship with Phillips 66,” said Curtis Howse, CEO, Payment Solutions, Synchrony. “Nearly half a million loyal customers use the Phillips 66 credit card and we look forward to offering them enhanced benefits and services to help with all their automotive needs.”
About U.S. Marketing at Phillips 66®, 76® and Conoco®
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Headquartered in Houston, the company has 14,200 employees committed to safety and operating excellence. Using a network of branded marketers and dealers operating approximately 7,000 outlets, its U.S. Marketing business supplies TOP TIER® Detergent Gasolines under the Phillips 66®, 76® and Conoco® brands. For more information, visit http://www.phillips66.com/ or follow us on Twitter @Phillips66Co.
Synchrony (NYSE: SYF) is a premier consumer financial services company. We deliver a wide range of specialized financing programs, as well as innovative consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. Synchrony enables our partners to grow sales and loyalty with consumers. We are one of the largest issuers of private label credit cards in the United States; we also offer co-branded products, installment loans and consumer financing products for small- and medium-sized businesses, as well as healthcare providers.
Synchrony is changing what’s possible through our digital capabilities, deep industry expertise, actionable data insights, frictionless customer experience and customized financing solutions.
For more information, visit www.synchrony.com and Twitter: @Synchrony