Consumer financing company Synchrony announced an agreement to provide a financial services program to homeowners and professional customers of Floor & Decor, a specialty retailer of hard-surface flooring.
Through Synchrony, the new Floor & Decor financing program features a consumer private label credit card and a professional private label credit card for contractors to manage project-related purchases and bulk purchases.
Synchrony's partnership model is designed to drive mutually beneficial growth for Floor & Decor as its robust multi-product offerings for both homeowners and professional customers – including builders, contractors, architects, designers, remodelers, flooring installers and realtors.
Through Synchrony, the new Floor & Decor financing program features:
- A professional private-label credit card for contractors to manage project-related purchases and bulk purchases, including promotional financing for six months on purchases over $299.
- A consumer private label credit card, including promotional financing for six months on purchases up to $499, 12 months on purchases $499 or more, and 48 months at 6.99% APR on purchases over $2,500.
- Enhanced fraud-mitigation capabilities
- Responsible underwriting and credit line assignments
- A prequalification process where consumers can get a credit decision in seconds without an impact to their credit score.
- A streamlined application process, including Synchrony's Direct to Device and dApply, which allows customers to apply safely and securely via their personal devices.
Synchrony's financing program will provide Floor & Decor with multi-product payment options that enable its consumer and commercial customers to access promotional financing at any of the company's more than 200 warehouse-format stores and five design studios across 36 states.
Read about Floor & Decor most recent quarter earnings here.
