Capital One Selected as New Exclusive Issuing
Partner for the BJ's Mastercard® Program
MARLBOROUGH, Mass., Oct. 12,
2022 /PRNewswire/ -- BJ's Wholesale Club (NYSE:BJ), a
leading membership warehouse club operator, and Capital One
Financial (NYSE: COF), a leading bank and credit card company,
announced today that they have entered into a strategic program
agreement for Capital One to become the exclusive issuing partner
for BJ's co-brand Mastercard® program. The new program is expected
to launch in early 2023.
With the new BJ's Mastercard program, Capital One has also
entered into an agreement to acquire the existing portfolio of BJ's
credit card accounts. Over the coming months, more details will be
provided to existing cardmembers on the transition to the new card
program, which will continue to run exclusively on the Mastercard
network.
"When we can deliver incredible value with a partner who is the
absolute best at what they do, our members win," said Bill Werner, Executive Vice President of
Strategy and Development at BJ's Wholesale Club. "Capital One's
customer service and digital experience are unmatched in the card
space, and we are so excited to pair this first-class offering with
the power of Mastercard's network and an upgraded value proposition
as we continue to deliver to our members what we believe is the
best program in retail."
"We're proud to enter into a strategic partnership with BJ's to
further accelerate their growth and support their commitment to
deliver significant value to their members," said Buck Stinson, Senior Vice President, Head of
U.S. Card Partnerships at Capital One. "We look forward to working
together to offer BJ's Mastercard cardmembers unique value and
convenience."
"We've been proud to bring the power of our network to support
BJ's Mastercard cardmembers since 2014," said Bunita Sawhney, Executive Vice President, U.S.
Financial Institutions at Mastercard. "With the addition of Capital
One as the exclusive issuing partner for this program, we will be
able to further deliver industry-leading everyday rewards and
benefits to BJ's members."
BJ's Wholesale Club delivers value, convenience and assortment
through incredible savings at an unbeatable value, helping members
save up to 25% off grocery store prices on national brands. BJ's is
proud to offer a wide assortment of fresh foods, produce, household
essentials, gas, tires and much more. As an easy one-stop shop,
members can enjoy a differentiated shopping experience enhanced by
omnichannel capabilities, including same-day delivery, in-club
pickup and ship-to-home.
Capital One has a superb track record of working with partners
to deliver industry-leading payment products and digital
capabilities that drive partner growth and deepen customer
loyalty.
About BJ's Wholesale Club
Holdings, Inc.
Headquartered in Marlborough,
Massachusetts, BJ's Wholesale Club Holdings, Inc. (NYSE: BJ)
is a leading operator of membership warehouse clubs in the
Eastern United States focused on
delivering significant value to its members. The Company provides a
curated assortment of grocery, general merchandise, gasoline and
other ancillary services to offer a differentiated shopping
experience that is further enhanced by its omnichannel
capabilities. Since pioneering the warehouse club model in New
England in 1984, the Company currently operates 232 clubs and 162
BJ's Gas® locations in 18 states. For more information, please
visit us at www.bjs.com or on Facebook, Twitter or Instagram.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a
financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N.A., had $307.9
billion in deposits and $440.3
billion in total assets as of June
30, 2022. Headquartered in McLean,
Virginia, Capital One offers a broad spectrum of financial
products and services to consumers, small businesses and commercial
clients through a variety of channels. Capital One, N.A. has
branches located primarily in New
York, Louisiana,
Texas, Maryland, Virginia, New
Jersey and the District of
Columbia. A Fortune 500 company, Capital One trades on the
New York Stock Exchange under the symbol "COF" and is included in
the S&P 100 index. Visit Capital One About for more
information.
About Mastercard
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all. www.mastercard.com
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SOURCE BJ's Wholesale Club Holdings, Inc.; Capital One Financial
Corporation; Mastercard