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Synchrony Financial Organizes Container Store Credit Card Program

If you have more things than places to keep them in your apartment or home, finding new storage solutions is about to get a little more wallet-friendly.

On Monday (Oct. 5), Synchrony Financial and The Container Store issued a press release that announced a multi-year partnership between the two companies and a consumer credit card that comes with special financing options and deals on products from The Container Store.

“The Container Store is a retail innovator, and we are excited to partner with its experienced team to provide payment options that help customers fulfill their aspiration for productive and organized homes,” Glenn Marino, executive vice president and CEO for payment solutions at Synchrony Financial, said in the press release. “We share The Container Store’s commitment to provide a great experience, exceptional service and relevant and valuable solutions for its customers.”

A partnership between a financial company and a storage provider might seem a bit out of sorts at first, but data from CreditCards.com indicates that consumers spend over $150 billion using store-branded credit cards each year. With so many high-margin items, The Container Store may be looking at its partnership with Synchrony as a way to make big-ticket closet and kitchen storage products more appealing to customers through promotional financing options.

“Our busy, time-starved customers look to us to deliver on the promise of an organized life so that they can live life to the fullest, and our job is to make that easy for them through customized solutions and personalized customer service,” Kip Tindell, CEO of The Container Store, said in the press release. “Providing financing options is just another example of our increased focus on adding convenient offerings to our service repertoire that our customers expect and deserve from us — things like free shipping on orders over $75, click and pick up and enhanced delivery options.”

The credit card program is expected to launch in Spring 2016.

To check out what else is HOT in the world of payments, click here.

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