BJ's Wholesale Club teaming with Citizens for consumer financing
Photo | Grant Welker
BJ's Wholesale Club headquarters in Westborough. The company announced it's opening four new locations over the next few months.
BJ's Wholesale Club members looking to pay for large purchases such as TVs or appliances can soon turn to Citizens Bank for financing.
Westborough-based BJ's and Providence-based Citizens have formed a partnership allowing BJ's members to pay for purchases with monthly payments through a virtual line of credit in a new program to launch later in the first quarter of the year. The program will start with delivery and online pick-up options, and later expand to include in-store purchases in the second quarter.
Citizens Pay will offer customers fixed monthly payments through a line of credit to be used for repeat purchases without a new credit application or managing multiple loans, Citizens said.
BJ's, which has 221 locations in 17 states, has seen sales boosted significantly during the coronavirus pandemic. Third-quarter sales, which were announced in November, were up 18.5%, compared to a year prior, with revenue surpassing $3.7 billion. Net income ballooned to $123 million from $55 million a year prior.
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