Multi-year Renewal Builds on 14-Year Relationship and Growth in U.S. Retail Sector
STAMFORD, Conn and PLANO, Texas -- October 15, 2013 --- GE Capital Retail Bank today announced a long-term extension of its private label and dual card credit program with leading national retailer JCPenney (NYSE: JCP). Launched in 1999, the credit card program is managed by GE Capital's Retail Finance business and available for purchases at any of the nearly 1,100 JCPenney stores across the United States and Puerto Rico, as well as jcpenney.com.
"We are pleased to extend our successful 14-year relationship through February 2020 and expand the dual card program in the process," said Margaret Keane, CEO and president of GE Capital Retail Finance. "The card program provides convenience and value for millions of JCPenney customers and we look forward to continuing to work with the entire JCPenney team to drive loyalty and satisfaction and play an important role in helping to grow their business."
"The JCPenney credit card has always been a powerful purchasing tool for our customers," said Windon Chau, divisional vice president of payment support services at JCPenney. "Extending our agreement with GE Capital Retail Bank ensures our customers will continue to enjoy benefits such as special savings certificates, gold and platinum financing events, birthday rewards, and much more."
The JCPenney consumer card program, branded with the classic JCPenney logo, provides credit to millions of consumers with a range of benefits that provide value, convenience and security including:
- New cardholders receive 20% off (10% off fine jewelry, watches and home) their first day of purchasing
- Exclusive credit events and promotional financing offers
- Relaunch of the Gold and Platinum programs for our most loyal shoppers
- JCPenney cardholders can earn up to ten $10 jcp rewards certificates, each month
- Online access to account information and payment options
- Ability to make payment on account in any JCPenney store and online for no charge
- Fraud protection with zero fraud liability for unauthorized use
About JCPenney
Founded in 1902, J. C. Penney Company, Inc. (NYSE: JCP) is one of the nation's largest apparel and home furnishing retailers, and dedicated to becoming America's preferred retail destination for unmatched style, quality and value. Across nearly 1,100 stores and at jcp.com, customers will discover an inspiring shopping environment that features the most sought after collection of private, national and exclusive brands and attractions. For more information, please visit jcpenney.com.
About GE Capital's Retail Finance business
GE Capital's Retail Finance business is among the country's most successful retail lenders, with 80 years of experience in consumer financing. The business, with its lending entity, GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries. We are not just bankers; we help clients build better businesses. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.
GE Capital is one of the world's largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
Cristy Williams
[email protected]
678.518.2596
Dori Abel
GE Capital Retail Finance
[email protected]
203-585-6702