GE Capital Retail Bank Extends Belk Private Label Credit Card Program, Builds on Retailer's 125 Years of Success
Updated Credit Card Design and 125 Days of Service Sponsorship Mark Retailer Milestone
STAMFORD, Conn. & CHARLOTTE, N.C.--(BUSINESS WIRE)-- GE Capital Retail Bank, which provides consumer financing solutions to retailers to help grow their customer sales, today announced an extension of their multi-year agreement to offer the Belk Rewards private label credit card program. Belk, the nation's largest privately owned retailer, sold the credit card portfolio to GE Capital and launched the enhanced offering in 2005. GE Capital's Retail Finance business, which manages the relationship and services the account, is also commemorating Belk's 125th anniversary, releasing an updated branded credit card with a 125 years icon to their accountholders and serving as an exclusive, presenting sponsor for Belk's 125 Days of Service initiative, dedicated to improving conditions at 250 Title 1 schools in low-income communities in 16 states.
The Belk Rewards branded credit card enables customers* to enjoy a range of benefits, including exclusive rewards and discounts, special financing offers, no annual fee, detailed monthly billing statements, online account management, and advance notice of savings opportunities and events. Applications are available at any of the more than 300 Belk stores, online at Belk.com, and integrated with social channels, including Facebook.com/Belk.
"GE Capital has been a true partner, helping us foster strong customer loyalty and bring valuable rewards to our Belk shoppers with convenient financing options and a dedicated line of credit to use for all Belk purchases," said Tim Belk, chairman and CEO of Belk, Inc. "We're pleased to continue our relationship with GE Capital, joining together on our 125 Days of Service, and innovating and building opportunities for the future."
"Belk and GE Capital share a long history and deep commitment to providing a customer-focused shopping experience," said Paula Clayton, general manager, Belk Rewards program, GE Capital's Retail Finance business. "We enjoy celebrating their rich heritage and continuing to work with their team to bring solutions to their business and customers."
For 80 years, GE Capital's Retail Finance business has provided billions of dollars in consumer financing through major retailers and more than 200,000 small- and mid-sized businesses throughout the United States. The company helps merchants build their businesses through consumer financing programs that drive business growth and customer satisfaction, and supports its clients with proprietary online technology, comprehensive training, and retail insights and analytics.
*subject to approval and availability
About Belk, Inc.
The first Belk store opened in Monroe, N.C., on May 29, 1888. Today, Belk, Inc. is the nation's largest privately owned and operated department store company with more than 300 fashion department stores in 16 contiguous Southern states and sales totaling $3.5 billion in its past fiscal year. The company seeks to be the department store of choice in each community it serves by providing superior service and merchandise that meets customers' needs for fashion, value and quality. For more information, go to www.belk.com or Facebook.com/Belk.
About GE Capital's Retail Finance business
GE Capital's Retail Finance business is among the country's most successful retail lenders, with 80 years of experience in consumer financing. The business, with its lending entity GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major 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 service providers across nearly 20 industries. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.
GE Capital is one of the world's largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.
GE (NYS: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
Editor Note: New 125 Years Credit Card graphics and Belk Builders Advertisement available
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