Personal Finance News
Synchrony Expands CareCredit with Albertsons Partnership
Synchrony is teaming up with Albertsons to increase acceptance of its healthcare credit product.
About the expansion:
Recently, Synchrony revealed that its CareCredit card would now be accepted at Albertsons Companies Inc. stores including Albertsons, Safeway, Vons, ACME, Shaw’s, and Jewel-Osco. In total, nearly 2,200 Albertsons Companies locations will participate in this partnership.
At these locations, CareCredit customers will be able to use their card to purchase pharmacy items, qualified over-the-counter health products, select personal care items, select beauty and hair care, certain pet food and supplies, and qualified baby essentials. For example, items such as vitamins, cold medications, hygiene products, diapers, formula, and more will be eligible as will pharmacy prescriptions and deductibles.
About the CareCredit card:
CareCredit is a specialized credit card meant to give consumers more flexible payment options for health and wellness expenses. For purchases of $200 or more, promotional financing may be available. Currently, the card is accepted at more than 260,000 locations including doctors, vets, dentists, and select retail locations.
In addition to the regular CareCredit Card, CareCredit Rewards Mastercard is also available to qualified applicants. This card offers 2x points on Health & Wellness, Pet Store, Grocery Store, and CareCredit Network purchases as well as 1x points on all other purchases. These points can then be redeemed for statement credits, gift cards, merchandise, and more.
What they’re saying:
Announcing the expansion of the CareCredit network, Synchrony EVP and CEO of Health and Wellness Beto Casellas said, “At Synchrony, we know our families’ health and wellness is not just pursued at the doctor’s office but is also found at our local grocery store. By expanding the CareCredit network through this new offering with Albertsons Cos., we are helping to ensure that consumers have more options to pay for their health and wellness products in a way that’s convenient for them.”
Meanwhile, Albertsons Co.’s Group Vice President of Health Irina Pelphrey stated, “At Albertsons Cos., we are continually broadening our relationships to ensure our customers have more options, flexibility and convenient ways to access prescriptions; personal, pet and baby care essentials; over-the-counter products; and other necessary items. Through our collaboration with CareCredit, cardholders can now shop at their preferred local Albertsons Cos. grocery store for the products they need on their health and wellness journey.”
My thoughts:
As a concept, the Synchrony CareCredit card sounds like a solid idea. However, to make it realistic in practice, customers need to have options for where they can use that card. That’s why this expansion with Albertsons is notable as it brings a host of new eligible locations to the already lengthy list. While this might not be the biggest addition to said list, it does show that Synchrony is actively working to expand its network. Hopefully this means they’ll be able to bring even more brands and locations on board soon.
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