Stein Mart inks new agreement with Synchrony Financial

Stein Mart says it has extended its consumer credit agreement with Synchrony Financial with a new long-term deal.



Since 2006, Synchrony Financial and Stein Mart have partnered to offer credit card programs for qualifying cardholders at the retail chain’s 278 stores and at Steinmart.com. Consumers can apply in-store or online for the Stein Mart Style Credit Card or the Stein Mart Style Platinum Master Card.



“The Stein Mart cards not only offer greater payment flexibility to customers, but also greater value through savings and benefits to loyal customers,” said Tom Quindlen, executive vice president and CEO, Retail Cards, Synchrony Financial. “We’re pleased to continue our long relationship with Stein Mart, and look forward to continuing to build continued loyalty with their customers through our credit card programs.”



Cardholders get access to Exclusive Extra Savings events where they are able to save 10%, at least 10 times a year.3 They also receive advance e-mail notification of sales events, savings during their birthday month and all the benefits of the Stein Mart Preferred Customer Program. Holders of the Stein Mart Style MasterCard are able to use the card anywhere MasterCard is accepted, in addition to Stein Mart stores.



“We are very pleased to extend our relationship with Synchrony Bank, an industry leader in the credit card business. This has been a great partnership since 2006,” said Greg Kleffner, CFO, Stein Mart. “Our credit card is a proven sales driver as our cardholders are our most frequent visitors. The extension with Synchrony will allow us to continue the fast-paced growth of our credit card program and our connection to these important customers, with improved economic terms benefitting our profitability.”



Stein Mart operates 278 locations from California to Massachusetts, as well as Steinmart.com.