Synchrony Financial signed a multiyear extension with Chevron to issue cards and the two companies introduced a new rewards program.
Synchrony in Stamford, Conn., formerly GE Capital Retail Finance, has partnered with Chevron on cards since 2007. Financial terms of their partnership extension were not disclosed.
In the new rewards program, called Techron Advantage Fuel Credits, new and existing holders of private-label and dual-branded Visa cards can earn additional fuel credits at Chevron and Texaco stations in the U.S.
Cardholders will receive 3 cents per gallon in fuel credits when the cards are used at Chevron and Texaco stations and additional credits when they reach certain spending amounts at non-fuel retailers. The Techron name stems from an additive used in Chevron's fuel.