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Warehouse club chain Sam’s Club, a division of Wal-Mart Stores Inc., and GE Capital Retail Bank, a consumer lending unit of Stamford, Conn.-based General Electric Co., have forged a multiyear agreement to keep providing the Sam’s Club credit card program to the retailer’s Advantage and Business members. GE Capital’s Retail Finance business, the operating entity that offers financial solutions to retailers to help grow their customer sales, will continue to manage the relationship and service the account.
The program is available at more than 600 Sam’s Clubs across the United States and Puerto Rico, and can be used at Walmart, as well as for online Sam’s Club purchases and at any retailer where Discover is accepted. The Sam’s Club private label credit card and Discover card program grant both Advantage and Business member cardholders such benefits as zero fraud liability with photo protection, one-card membership and credit card convenience, no fee in-club cash access, special financing promotions, itemized billing statements (for Business members only), and advance notice of savings opportunities and events.
“Our members value having the convenience of a dedicated line of credit to use for all their in-Club and online purchases,” noted Alex Aguila, senior director, financial services for Bentonville, Ark.-based Sam’s Club. “GE Capital Retail Bank understands the needs of our members and has helped us create solutions over the last 19 years that are versatile and build repeat business.”
“Enhancing the membership offerings has been an important aspect of the financing program for nearly two decades,” added Steve Hacala, VP and general manager for Sam’s Club Credit Services with GE Capital’s Retail Finance business.
GE Capital began providing a net term credit program for Sam’s Club Business members in 1993, added revolving credit programs two years later, and now offers the Sam’s Club member private label and Discover credit cards for Advantage and Business members.