GE Capital Retail Bank announced on Tuesday a multi-year agreement with energy manufacturer Phillips 66 to provide private credit card programs for consumers and commercial customers nationwide beginning Aug. 1.
The Phillips 66 credit card promotions include a private label credit card for consumers, as well as a branded business revolving charge card for commercial customers. The consumer credit card program, which includes the Phillips 66 Personal Card, Conoco Personal Card and 76 Personal Card, offers consumers the ability to earn rewards for qualifying fuel purchases at thousands of Phillips 66-affiliated locations.
“We’re pleased to work with GE Capital’s strong and experienced team to bring our customers the convenience of a dedicated credit card to use for all of their purchases at our branded locations,” Andy Viens, the president of global marketing at Phillips 66, said.
GE Capital’s retail finance division works with gas and oil retailers to provide a number of financial solutions to end customers. As part of the agreement, GE will acquire the existing card program assets from Citibank.
“We are excited to build this relationship with Phillips 66 and look forward to working with the 8,000+ branded locations in their network to provide valuable financing solutions for their customers,” GE Capital CEO and President Margaret Keane said. “The transaction, which closed June 28…will grow GE Capital’s significant presence in the oil and gas segment, with a respected provider of fuel products for over a century.”