Synchrony, Lowe's sign multiyear extension of credit card deal

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Synchrony in Stamford, Conn., will continue to manage consumer and commercial credit card programs for Lowe’s.

The companies reached a multiyear extension of their partnership, Synchrony said Monday. The two companies have worked together since 1979, when Synchrony was part of GE Capital. Synchrony was spun off in November 2015.

Synchrony will continue managing three credit cards for the home improvement chain’s more than 1,740 locations and its website.

“Over nearly 40 years, Synchrony and Lowe’s have evolved together in a dynamic market environment, and we look forward to continuing to improve our capabilities to even better serve customers in the future," Margi Vagell, Lowe’s vice president of merchandising operations, said in a press release.

Recently, Synchrony lost out to Capital One Financial in a bid to issue and back store cards associated with Walmart.

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