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.
