Synchrony Financial Acquires Lowe's Commercial Co-branded Credit Card Portfolio

Synchrony Financial has agreed to acquire Lowe's Commercial Co-branded Credit Card Portfolio. The acquisition is expected to be completed in the first half of 2026, marking the launch of a new commercial co-branded credit card program.

Synchrony Financial, a Stamford-based financial services company, has agreed to acquire Lowe's commercial co-branded credit card portfolio. The acquisition, which is expected to be completed in the first half of 2026, will see Synchrony become the issuer of the Lowe's commercial co-branded credit card program. The deal involves approximately $800 million in loan receivables, according to a regulatory filing [1].

Synchrony expects to record a reserve of up to $50 million in connection with the transaction during the third quarter of 2025 [2]. The financial terms of the deal were not disclosed. The company anticipates completing the acquisition and launching the credit-card program in the first half of 2026, subject to customary closing conditions [1, 2].

This acquisition is part of Synchrony's strategy to expand its portfolio and enhance its offerings in the commercial co-branded credit card space. In early June, Synchrony partnered with OnePay, a financial technology platform majority-owned by Walmart, to develop a private-label Walmart credit card program [1].

References:
[1] https://hartfordbusiness.com/article/synchrony-agrees-to-acquire-lowes-credit-card-portfolio/
[2] https://www.morningstar.com/news/dow-jones/202508054649/synchrony-strikes-deal-to-buy-lowes-commercial-card-portfolio