GE Capital Retail Bank, an operating unit of the
General Electric Company
), recently signed a multi-year renewal contract to extend its
private label credit card program with
J. C. Penney Company, Inc.
). The extension entails J. C. Penny customers to avail credit
facilities at over 1,100 stores across the U.S. and Puerto Rico.
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J. C. Penny has a long-standing business association with GE
Capital Retail Bank, spanning more than a decade, whereby its
customers could avail credit facilities and get discounts at
retail stores and online purchases. The extension of the existing
contract strengthens the mutual relationship and reinforces GE
Capital Retail Bank as the premier consumer lending provider for
Over the years, GE Capital Retail Bank has provided a plethora of
customized credit programs to the retail consumers of J. C. Penny
to augment sales. The credit card also offer a 20% discount to
new cardholders on the first day of shopping and thereafter,
provide an opportunity to earn up to ten $10 rewards certificates
each month, which could be redeemed for a later purchase.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world. With
products and services ranging from aircraft engines, power
generation, water processing, and security technology to medical
imaging, business and consumer financing, media content and
industrial products, the company serves over 100 million
Its segments include Energy Infrastructure, Aviation, Healthcare,
Transportation, Home & Business Solutions and GE Capital,
Healthcare Financial Services. With 80 years of experience in
consumer financing, GE Capital's Retail Finance business is one
of the most successful retail lenders in the U.S. It offers
private label and bankcard credit programs to leading national,
regional and independent retailers in the U.S., as well as
private label credit programs, promotional and installment
lending, bankcards and financial services for consumers through
dealers; contractors; manufacturers; healthcare practices; and
General Electric currently has a Zacks Rank #4 (Sell). Other
companies in the industry worth mentioning are
Tyco International Ltd.
Jardine Strategic Holdings Ltd.
), each carrying a Zacks Rank #1 (Strong Buy).