Synchrony Financial and Chevron Introduce More Fuel Savings with Enhanced Credit Card Loyalty Programs, Sign Multi-Year Agreement

Cardholders earn 3¢/gallon in Fuel Credits at nearly 8,000 Chevron and Texaco stations nationwide

STAMFORD, Conn. & SAN RAMON, Calif.--()--In time for peak driving season, Synchrony Financial (NYSE:SYF) and Chevron U.S.A. Inc. today announced the new Techron AdvantageTM Fuel Credits Program for consumers. Beginning July 1, both new1 and existing personal private label and dual-branded Visa® cardholders can earn additional Fuel Credits on their fuel purchases at nearly 8,000 Chevron- and Texaco-branded stations nationwide. The new Fuel Credits program is part of a multi-year extension signed between Chevron U.S.A. Inc. and Synchrony Financial for Chevron’s personal credit card program.

“Customer and cardholder input has been important in developing programs that offer the greater savings and benefits they want most”

With both the personal Techron Advantage Credit Card and Visa® Card, cardholders can earn 3 cents per gallon in Fuel Credits - every fill-up, every time - at participating Chevron and Texaco stations throughout the U.S.2 In addition to earning 3 cents per gallon in Fuel Credits, Techron Advantage Visa® cardholders can earn 10 cents per gallon in Fuel Credits when they purchase $300 or more outside of fuel merchants each month, or 20 cents per gallon in Fuel Credits when they purchase $1,000 or more outside of fuel merchants each month.3 Every new cardholder who opens an account between July 1 and September 30 can also earn a promotional offer of 30 cents per gallon in Fuel Credits for the first 60 days from their account open date.

In addition to offering more savings on fuel purchases, all Techron Advantage credit cards feature exclusive cardholder savings throughout the year4, zero fraud liability and the convenience of mobile and online account management. Issued by Synchrony Bank, each new Techron Advantage Visa® Card also includes chip-enabled technology for improved fraud security.

“Customer and cardholder input has been important in developing programs that offer the greater savings and benefits they want most,” said Tom Quindlen, executive vice president and CEO, Retail Cards, Synchrony Financial. “In partnering with Chevron, our focus has been on enhancing value for cardholders, which also helps build continued loyalty.”

The new Techron Advantage name highlights the enhanced card benefits and the continued advantage of the cleaning power of Techron. Techron is Chevron’s unique fuel additive designed to protect engines from harmful deposit buildup that can interfere with performance. Synchrony Financial has worked with Chevron on consumer credit card programs since 2007.

“This is an exciting time to launch a simple yet rewarding value proposition to the marketplace. This new program with Synchrony Financial offers our customers an everyday advantage when they use their Techron Advantage Credit Card to fill up at Chevron and Texaco stations,” said Glenn Johnson, General Manager of Americas Marketing Sales & Services at Chevron. “We continue to look for competitive and rewarding programs that serve the needs of our customers and retail stations.”

About Chevron

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at http://www.chevronwithtechron.com and www.chevron.com.

About Synchrony Financial

Synchrony Financial (NYSE:SYF), formerly GE Capital Retail Finance, is one of the nation’s premier consumer financial services companies. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables. We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations, and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ over 300,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. Our offerings include private label and co-branded Dual Card credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com and twitter.com/SYFNews.

1Subject to credit approval.
2Purchase(s) subject to credit approval and account must be in good standing to earn and receive Fuel Credits. Fuel Credits accrue during a billing period and will be applied as a statement credit to the balance on a Card Account at the end of that same billing period. See application for “How Fuel Credits Work.”
3A maximum of $300 in total Visa Spend Fuel Credits may be earned in any calendar year.
4Offers available to cardholders who have made at least one fuel purchase at a Chevron or Texaco station with their Chevron and/or Texaco Techron Advantage Credit Card within the last 12 months and whose account is in good standing at the time the offer is issued. Additional restrictions may apply.

Contacts

For Synchrony Financial
Cristy Williams, 855-791-8007
media.relations@synchronyfinancial.com
or
For Chevron
Diana Reyes Baughman, 925-842-0031
bdir@chevron.com

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Release Summary

In time for peak driving season, Synchrony Financial and Chevron U.S.A. Inc. today announced the new Techron AdvantageTM Fuel Credits Program for consumers.

Synchrony Financial