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The clothing retailer J.Crew will launch a co-branded Mastercard in the first half of 2024. Issued by the consumer finance company Synchrony, the card will offer rewards on purchases made wherever Mastercard is accepted. Members of the J. Crew Passport loyalty program will earn additional benefits and tier-qualifying points when using the card. The J.Crew Mastercard will be the brand’s first co-branded credit card to offer loyalty rewards on external purchases.
As part of the multiyear agreement, Synchrony will acquire J.Crew's existing credit portfolio. Synchrony will also provide the retailer with a suite of digital tools such as mobile wallet provisioning, pre-approval capability, and mobile credit application options.
"We are thrilled to be working with Synchrony and Mastercard, as their deep industry expertise, leading digital capabilities and collaborative partnership approach are exactly what we are looking for in financial partners," said Libby Wadle, CEO at J.Crew Group.
"Our partnership with J.Crew and Mastercard provides a unique opportunity for us to showcase the full breadth of Synchrony's digital, analytics and innovative capabilities," added Darrell Owens, Senior Vice President and Head of the Lifestyle Platform at Synchrony.
J.Crew stated it will provide full details on the new card program to customers and loyalty members in early 2024.
Read More on Loyalty360:
J.Crew Celebrates 40th Anniversary with Obsess Partnerships and Immersive Virtual Experience
How Credit and Loyalty Work Together for Synchrony Financial and Partner Brands
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