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Synchrony Financial's Credit Card Expands Acceptance Network

Zacks Equity Research

Synchrony Financial SYF has enhanced the acceptance of its credit card Synchrony Car Care by more than ten times to include more auto-related categories and destinations.

With this deal, cardholders now have access to use the all-in-one solution across more than 500,000 locations in 25 categories, which consists of gas, auto parts and service, car washes, parking, ride sharing, et al.

Launched in 2017, Synchrony Car Care is a no annual-fee credit card that caters to the requirements of drivers. It provides an advanced payment solution to both planned and unplanned car costs. Apart from greater acceptance, this card also offers a six-month promotional financing aid on bills amounting to $199 or more.

Synchrony Car Care continues to benefit people, who want to manage their family’s auto-related expenditure through one seamless payment option. This agreement is yet another step taken by the company to sustain its commitment toward helping cardholders reach their destination.

Synchrony is teaming up with Discover Global Network, the fastest evolving global payments system to facilitate greater reception in the automotive section. For customers, this means higher approval across the country apart from Synchrony Car Care's traditional parts and service categories.

The parent company is constantly focusing on boosting digital customer experiences. Synchrony Car Care works with a mobile application and is free to use on iOS and Android devices.

Shares of this Zacks Rank #3 (Hold) company have lost nearly 6.1% in a year’s time, narrower than the industry’s decline of 10.5%.

Stocks to Consider

Investors interested in the finance sector can look into some better-ranked stocks like Virtu Financial, Inc. VIRT, Fidelity National Information Services, Inc. FIS and Euronet Worldwide, Inc. EEFT. You can see the complete list of today’s Zacks #1 Rank stocks here.

Virtu Financial provides market making and liquidity services to the financial markets around the globe. The company sports a Zacks Rank #1 (Strong Buy) and came up with average trailing four-quarter positive surprise of 0.63%.

Fidelity National Information works as a financial services technology company worldwide. It has a Zacks Rank of 1. The company managed to deliver an earnings surprise in all the previous four quarters, the average being 2.72%.

Euronet provides payment and transaction processing and distribution solutions worldwide. It carries a Zacks Rank #2 (Buy). The stock pulled off average four-quarter beat of 2.68%.

Zacks' Top 10 Stocks for 2019

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