Companies Agree to Extend Private Label Credit Card Offering and Explore New Opportunities Together
Kohl’s and Capital One, National Association, a subsidiary of Capital One Financial Corporation, announced a multi-year extension of their credit card program agreement. This is the second contract extension, with the most recent one occurring in 2014, and will allow the companies to continue to build on their relationship and provide industry-leading experiences and highly compelling products to Kohl’s millions of customers.
The contract extension with Kohl’s enables consumers to have expanded buying power and further solidifies an already strong partnership. Kohl’s high product standards and the company’s focus on customer service extends through its private label credit card program, Kohl’s Card, which offers cardholders access to exclusive offers, guaranteed savings and online payment services. The two companies have also agreed to a co-branded card product piloted as early as 2023.
“The Kohl’s credit program is an invaluable piece of our loyalty program and we are pleased to continue this important partnership with Capital One to bring the best value to our customers,” said Greg Revelle, Kohl’s chief marketing officer. “For many years, Capital One has been a strong partner and we look forward to building upon our work together to innovate and drive excellence in the customer experience.”
Kohl’s loyalty offerings include Kohl’s Card, Kohl’s Rewards and the Company’s iconic Kohl’s Cash coupons. The Company recently announced plans to roll out enhanced rewards for Kohl’s Card cardholders this spring. Kohl’s Rewards members will earn 7.5% when they use their Kohl’s Card — delivering 50% more in rewards for Kohl’s Card members who are also Rewards members.
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“From the start of our partnership with Kohl’s in 2011, our shared focus on innovation and growth has allowed our organizations to strategically invest to deliver exceptional value to customers,” said Buck Stinson, SVP of Card Partnerships at Capital One. “This extension is a testament to our commitment to building long-standing, mutually beneficial partnerships and demonstrates how we build relationships and deliver results over the long-term.”
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