Synchrony set to issue Walgreens credit cards
STAMFORD — Synchrony, the country’s largest private-label credit card provider, announced Monday that it will be issuing two new Walgreens credit cards focused on health and wellness.
Officials at Stamfordbased Synchrony and Deerfield, Ill.-based Walgreens said in their announcement that the myWalgreens Mastercard and the myWalgreens card are the “first ever of their kind to reward more personalized wellbeing choices and offer industryleading rewards” at more than 9,000 Walgreens locations, Walgreens.com, Walgreens-owned Duane Reade locations, through the Walgreens mobile app and wherever Mastercard is accepted.
Among the cards’ features, myWalgreens cardholders can earn Walgreens Cash rewards worth 10 percent of the price of eligible Walgreens-branded products and rewards worth 5 percent of the price of all other eligible brands and pharmacy purchases.
MyWalgreens Mastercard cardholders can earn Walgreens Cash rewards worth 3 percent of eligible grocery and health-and-wellness purchases outside of Walsigns greens, including health care provider visits, as well as rewards worth 1 percent of eligible purchases anywhere Mastercard credit cards are accepted.
In addition, cardholders will earn $25 in Walgreens Cash rewards when they make their first purchase within 45 days of opening an account.
“Synchrony is proud to deepen our health-and-wellness expertise by partnering with Walgreens and to bring the myWalgreens credit card to market,” Alberto Casellas, chief executive officer and executive vice president of Synchrony’s health and wellness division, said in a statement. “Now more than ever, consumers are focused on living well and this card offers a dynamic, new customer experience designed to meet their unique needs — a personalized experience that makes saving, shopping and focusing on wellness easier and more rewarding.”
Synchrony officials said that the company’s technology allows customers to easily apply for the myWalgreens credit card at walgreens.com/creditcard or on the Walgreens mobile app.
While in stores, customers can apply at the register, by scanning QR codes on store or by using Synchrony’s “direct to device” technology, which sends application links to customers through text messages.
In the second quarter of this year, Synchrony recorded an average of nearly 66 million active accounts, up 2 percent from a year ago. In the quarter, it originated 6 million accounts.
Ranking as the No. 187 company on this year’s Fortune 500 list, Synchrony is headquartered at 777 Long Ridge Road in Stamford.