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Synchrony Financial's (SYF) Bank Issues Cards for Walgreens

·3 min read

Synchrony Financial’s SYF banking unit, Synchrony Bank has issued the new myWalgreens Credit Card program, featuring two industry-first retail health and wellness credit cards for Walgreens. This, in turn, extends the relationship between the two companies.

These one-of-a-kind my Walgreens Mastercard and the myWalgreens Credit Card are made to provide personalized wellbeing options to users along with great rewards at more than 9,000 Walgreens locations, Walgreens.com, and Duane Reade stores, via the Walgreens mobile app and at all places where Mastercard is accepted.

The rewards are fascinating. For instance, cardholders will get $25 in Walgreens Cash rewards when they make their initial purchase within 45 days of opening an account.

Customers will be able to enjoy a seamless experience with savings on future health and wellness purchases. Moreover, with Synchrony Financial’s market-leading consumer financing technology, customers can easily apply for the myWalgreens Credit Card online at Walgreens.com/CreditCard or through the Walgreens mobile app.

The card issuer company remains committed to providing feasible solutions to customers. The cards offer hassle-free experiences and are designed to cater to the evolving requirements of customers.

The myWalgreens Credit Card with no annual fee integrates with the Walgreens app. One doesn’t require any membership fee to join the myWalgreens rewards program. Cardholders can start using their card upon approval in store, at Walgreens.com and by using the Walgreens mobile app.
Given the current scenario, more and more customers are preferring to stick to contactless shopping experiences such as these.

The currently Zacks Rank #3 (Hold) company is constantly forging alliances to enhance its portfolio. Synchrony Financial was successful in revising several collaborations over the last few quarters as well. It partnered with several biggies, such as PayPal and Venmo, which in turn, continue to transform the payment experience for customers.

The card issuer also renewed its tie-up with Mattress Firm, Ashley Home furniture, American Eagle, Ashley HomeStore, TJX Companies, etc. It acquired Allegro Credit, a leading provider of point-of-sale consumer financing for audiology products and dental services.

All these integrations aim at bringing diversification to the company’s business lines that in turn, drive its competitive edge.

Price Performance

In the past year, the stock has surged 119.9%, outperforming its industry's growth of 5.8%.

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Zacks Investment Research

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Stocks to Consider

Some better-ranked companies in the same space are Equitable Holdings, Inc. EQH, Jefferies Financial Group Inc. JEF and Moodys Corporation MCO, each presently holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Equitable Holdings, Jefferies Financial and Moodys came up with a trailing four-quarter surprise of 15.9%, 284.9% and 20.4%, respectively, on average.

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Moodys Corporation (MCO) : Free Stock Analysis Report

Jefferies Financial Group Inc. (JEF): Free Stock Analysis Report

Synchrony Financial (SYF) : Free Stock Analysis Report

Equitable Holdings, Inc. (EQH) : Free Stock Analysis Report

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