ESSENTIAL GUIDE. The Synchrony HOME. Credit Card

Transcription

1 ESSENTIAL GUIDE The Synchrony HOME Credit Card Program Launch Beginning January 2019

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3 to the program with everything for the home. The Synchrony HOME Credit Card has important updates coming soon. Please review the enclosed information to prepare for your new program. ACTION: Learn what s coming in 2019 Take a moment to review this essential guide to help you and your team learn what s new and leverage the power of the Synchrony HOME brand and the expanded credit card network. We ll walk you through this important information and share any action you ll need to take. New program information enclosed: New HOME features and benefits for you and your customers Program launch and reissue details Process changes Marketing opportunities

4 Benefits for You What is new 5 Million+ nationwide Synchrony HOME cardholders with $21 Billion+ in available credit. * 1.5 MM new cardholders added in the last 12 months. EXPECTED ACCESS BY APRIL 2019: AS OF 9/30/18 YOUR STORE 1.5MM NEW CARDHOLDERS IN THE LAST 12 MONTHS The new HOME features encourage cardholders to use their Synchrony HOME Credit Card for all of their home-related purchases, big and small. 2% cash back on purchases under $299 as a statement credit (funded by Synchrony) 1 6 Months Promotional Financing on purchases of $299 or more 2 or the longer term promotional financing that you offer at your store More marketing and periodic offers for your cardholders (funded by Synchrony) to help drive usage What stays the same Synchrony HOME cardholders can easily locate stores that accept their card including your store at mysynchrony.com/home. You can accept all Synchrony HOME cards without processing new applications. You can market special offers to all cardholders in your area on the Synchrony HOME website. Your Merchant Services phone number is still ACTION: Go to synchronyhomepartner.com for associate training and marketing resources. *,1,2 See back for details.

5 Benefits for Your Cardholders What is new ONE CARD FOR EVERYTHING IN THE HOME Accepted at thousands of retailers, from furniture and décor to appliances and more Increased purchasing power 2% cash back as a statement credit on all purchases under $299 (funded by Synchrony Bank) 6 Months Promotional Financing on all purchases of $299 or more at any retailer that accepts the card 12 to 60 Months Promotional Financing on qualifying purchases at any of the ~15,000 Synchrony HOME select retailers like you Cardholders have a new customer service phone number: ENJOY EVERYDAY BENEFITS, EVERYWHERE THE CARD IS ACCEPTED. 2% 6 CASH BACK on purchases under $299 paid as a statement credit. 1 Now through December 31, MONTHS Promotional Financing on purchases of $299 or more. 2 PLUS MONTHS Promotional Financing on qualifying purchases at select retailers. 2 Visit mysynchrony.com/home for retailer locations, special promotions and exclusive offers. What stays the same: Easy-to-use locator tool to help find nearby retailers Exclusive offers Regular reviews for credit limit increases. Cardholders can also request a credit limit increase. $0 fraud liability 24/7 secure online account access Free FICO credit scores 3 No annual fee 4 ACTION: Share these benefits with your team so they can communicate them to your customers when offering the Synchrony HOME Credit Card program. 1,2,3,4 See back for details.

6 SYNCHRONY HOME CREDIT CARD Launch ACTION: You can accept any card with the Synchrony HOME logo.

7 WHAT YOU NEED TO KNOW: New cardholder accounts January 23, 2019 Starting January 23, 2019, your new cardholders will receive the new Synchrony HOME Credit Card. The everyday offers of 2% cash back on purchases under $299, 1 and 6 Months Promotional Financing on purchases of $299 2 or more are available. Existing cardholder accounts March 2019 Existing cardholders will receive a new Synchrony HOME Credit Card starting March The new everyday offers of 2% cash back on purchases under $299, 1 and 6 Months Promotional Financing on purchases of $299 2 or more will begin on February 26, NOTE: Accounts that are not eligible for reissue will be closed. New cards will feature: A new 16-digit account number The Synchrony HOME logo An EMV chip An expiration date 3-digit CVV2 security code New cards will require activation. Customers old cards will continue to be accepted until at least 8/31/19. Once their new card has been activated, the old card will no longer work. 1,2 See back for details.

8 SYNCHRONY HOME CREDIT CARD Process Changes ACTION: Activation is required for new cards. If a card is declined, call as the cardholder may not have activated their new card.

9 WHAT YOU NEED TO KNOW: Transactions You can accept any Synchrony HOME Credit Card. Just look for the logo in the bottom right corner. Continue to use Synchrony Business Center, terminals or your custom store point-of-sale system to process all Synchrony HOME transactions. Your financing program promotions, tran codes and rates all remain the same. Use your Synchrony point-of-sale system and the correct tran code to ensure your customer gets the correct promotion. When card is present: If you manually enter the account number, complete the expiration date and 3-digit CVV2 fields when requested. If you swipe the card, there is no change. When card is not present: Look up the customer s account. The account lookup results will include the last four digits of the account number, customer name, credit limit and program name. Process the transaction from the account lookup. The expiration date and CVV2 will not be requested. 6 Months Everyday Promotional Financing For the new 6 month everyday promotion, any purchase transaction of $299 or more that is entered without a tran code or a core tran code of 100 will automatically be put on a 6 month WPDI promotion (No Interest if Paid in Full within 6 Months). The promotional terms will be provided to the cardholder and the discount rate will be applied. Use your 6 month WPDI promotion tran code of 106 to process a 6 month promotion for any purchase amount. YOU CAN ACCEPT OLD CARDS UNTIL AT LEAST 8/31/19.

10 SYNCHRONY HOME CREDIT CARD Opportunities to Promote the Synchrony HOME Credit Card ACTION: Check out synchronyhomepartner.com for marketing best practices and creative assets.

11 WHAT YOU NEED TO KNOW: Order signage Order new free Synchrony HOME point-of-purchase materials from our expanded collection! Just call Merchant Services or order in Business Center by logging in, selecting Help and Resources and then Order Supplies. Update your website Update your new Synchrony HOME card art, logo and the new Synchrony HOME cardholder value proposition on your website. ENJOY EVERYDAY BENEFITS, EVERYWHERE THE CARD IS ACCEPTED. 2% 6 CASH BACK on purchases under $299 paid as a statement credit. 1 Now through December 31, MONTHS Promotional Financing on purchases of $299 or more. 2 PLUS MONTHS Promotional Financing on qualifying purchases at select retailers. 2 Visit mysynchrony.com/home for retailer locations, special promotions and exclusive offers. Refresh your advertising Add the new Synchrony HOME name, card art, logo and cardholder benefits to all of your advertising. Market your special offers Market your special offers to Synchrony HOME cardholders in your area on the Synchrony HOME website. Contact your relationship manager with your special offers. Check your locator information Be sure your store information is up to date in the HOME Business Locator so Synchrony HOME cardholders can find you. Your listing can now include your store hours. To learn how to update your store s information on the Business Locator, go to learn.synchronybusiness.com/business-locator. 1,2 See back for details.

12 QUESTIONS? Visit synchronyhomepartner.com or call the Merchant Support at * Estimates based on agreements as of 9/30/18. 1 Offer valid through December 31, Net card purchases (purchases minus returns and adjustments) less than $299 made with the Synchrony HOME Credit Card will earn 2% cash back paid as a statement credit. Statement credits will be issued within 1-2 billing cycles after qualifying purchase is made. Account must remain open, in good standing and not become delinquent. Subject to credit approval. We reserve the right to discontinue or alter the terms of this offer at any time. 2 Subject to credit approval. Minimum monthly payments required. Promotional financing offers available at the time of purchase may vary by location. See store for details. 3 FICO Scores are available by accessing the online account servicing site at mysynchrony.com. Scores are available online only to primary cardmembers with an open account. FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries. 4 For new accounts: Purchase APR is 29.99%. Minimum interest charge is $2. Existing cardholders should see their cardholder agreements for their applicable terms.