Stein Mart extends consumer credit card deal with Synchrony Financial (2024)

FAQs

What is the new name for Synchrony Bank? ›

*Note: On June 2, 2014, GE Capital Retail Bank changed its name to Synchrony Bank and is part of the Synchrony Financial business (formerly GE Capital Retail Finance). The name change is in process.

What is Synchrony Financial Financial Strength? Synchrony Financial has the Financial Strength Rank of 4. GuruFocus Financial Strength Rank measures how strong a company's financial situation is.

In 2017, Synchrony acquired GPShopper. In 2018, Synchrony acquired Loop Commerce, which provides a patented digital gifting platform called GiftNow. In 2018, Synchrony's largest program was the acquisition of PayPal's $7.6 billion credit receivables portfolio.

Although Stein Mart now operates under new management, the iconic brand continues to provide exceptional apparel and accessories online.

Synchrony Bank, part of Synchrony Financial (NYSE:SYF), is a federal savings bank headquartered in Draper, Utah, and a member of the FDIC.

Complaints raised against Synchrony Bank debt collection range from unfair late fees charges, contacting consumers for a debt they already cleared, refusing to remove a false debt from the credit report, and speaking to unprofessional agents.

Is Synchrony Bank secure? Synchrony Bank's deposit accounts are insured by the Federal Deposit Insurance Corp. (FDIC) up to the legal limit of $250,000 per depositor, per account ownership category. This insurance protects your money in the unlikely event of a bank failure.

Berkshire held 17.5 million shares of Synchrony as of the end of 2020. It later sold the entire stake in Q1 2022.

Based on 15 Wall Street analysts offering 12 month price targets for Synchrony Financial in the last 3 months. The average price target is $48.80 with a high forecast of $62.00 and a low forecast of $37.00. The average price target represents a 11.67% change from the last price of $43.70.

Why did Walmart stop using Synchrony Bank? ›

According to reports about the break, Walmart complained that Synchrony Financial's transaction fees were too high and that it didn't approve enough card applications. On the other side, Synchrony Financial reportedly felt Walmart didn't put enough marketing energy behind its card offerings.

More about Synchrony: Synchrony Bank is owned by Synchrony Financial, a Stamford, Connecticut-based consumer financial services company.

During the bankruptcy process, it also announced that all of its assets were for sale, and it was looking for a buyer to purchase those assets. During the fall of 2020, an agreement had been reached with the private equity firm Retail Ecommerce Ventures to acquire the Stein Mart operations.

The company that owns the intellectual property of Radio Shack, DressBarn, Linens 'N Things, Modell's Sporting Goods and Pier 1 Imports has purchased the intellectual property of Stein Mart Inc. Retail Ecommerce Ventures' subsidiary, Stein Mart Online Inc.

Stein Mart competitors include Burlington Industries, Marshalls, Macy's, Belk and Dillard's.

Synchrony Bank never closes, so we're always available to help.

Examples of other Synchrony co-branded cards:

American Eagle credit card. Belk credit card. CheapOair credit card. Crate & Barrel credit card.

Synchrony Bank uses all three major credit bureaus (TransUnion, Equifax and Experian) in order to assess your creditworthiness.