J.Crew Group partners with Synchrony, Mastercard for new credit card program

J.Crew Group announced it has entered into a new, multi-year credit card program agreement with Synchrony (SYF) and Mastercard (MA). J.Crew Group and Synchrony will partner on a private label credit card program, and together with Mastercard, the companies will launch a co-branded credit card designed for J.Crew and J.Crew Factory customers in the first half of 2024. As part of this partnership, Synchrony will acquire J.Crew’s existing credit portfolio. Synchrony will also provide J.Crew with a full suite of digital capabilities including mobile wallet provisioning, robust pre-approval capabilities, Scan to Apply and direct to a customer’s device credit application options. The partnership with Mastercard also marks the first time that a new J.Crew Group co-branded card will be available to make purchases outside of J.Crew to obtain rewards and powered by the Mastercard Network, adding exponentially more value for consumers.