Synchrony Financial has inked a multi-year extension of its agreement for the Midas Credit Card.
Through a network of more than 1,200 independent franchised locations throughout the United States, Midas has offered complete auto care services for more than 60 years, including oil changes, brakes, tires and tire repairs, mufflers and exhaust, belts, hoses and other services.
Qualified cardholders enjoy an everyday value proposition of special financing for purchases of $199 or more. Additionally, as part of the Synchrony Car Care network, cardholders can take advantage of additional benefits, including using their Midas Credit Card for convenient fill-ups at more than 185,000 gas stations nationwide.
Research conducted with automotive (tires/wheels, service and parts) cardholders for Synchrony Financial shows the importance of financing in the automotive sector and in driving customer satisfaction:
• Among automotive cardholders surveyed as part of Synchrony’s Major Purchase Consumer Study,2 one-third (33%) report they would not have made a major purchase (more than $500), or would have gone to another retailer if financing were not available. More than 70% of automotive cardholders say they “always” seek promotional financing when making a major purchase, and 88% said promotional financing made their large purchases more affordable.
• Recent feedback from Synchrony automotive cardholders confirms 90% are satisfied with the card and 88% are satisfied with the in-store experience when using the card.
Midas is one of the world’s largest providers of automotive services, offering brake, maintenance, tires, exhaust, steering and suspension services at more than 2,100 franchised, licensed and company-owned Midas shops in 13 countries, including nearly 1,300 in the United States and Canada.
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