Appliance Factory Outlet Credit Card Account Agreement and Pricing Addendum

Appliance Factory Outlet Credit Card Account Agreement and Pricing Addendum, as filed by Synchrony Financial, carries a 34.99% purchase APR and a 39.99% penalty rate. Against the 4,587 filings on this site, that rate lands around the 84th percentile.

On the face of the filing

Synchrony Financial submitted the terms for Appliance Factory Outlet Credit Card Account Agreement and Pricing Addendum to the CFPB's agreement database; this is what they contain. The filing runs five pages.

Terms captured from the document include a purchase rate, a penalty rate, a late payment maximum and a grace period. No figure appears for a cash advance rate, a balance transfer rate and an annual fee line.

The purchase APR against the corpus

Ranked against the corpus, this purchase APR — 34.99% — sits at approximately the 84th percentile and is well above what most issuers disclosed.

What the rate means in dollars

At the disclosed purchase APR, $3,000 revolving for a full year costs something like $1,256 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $738. The gap — roughly $518 a year on $3,000 — is the price of this particular filing over a typical one.

Note the $2 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The downside terms

A penalty APR of 39.99% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 86th percentile.

A default therefore reprices the debt by 5 points: about $145 a year more on $2,000, for as long as the penalty rate stands.

The maximum late fee is $41 — roughly the 89th percentile of the late fee ceilings disclosed across this index.

Grace period and minimum charge

23 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. With a corpus median of 25 days, this window is narrower than the norm.

The $2 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The issuer's other agreements

Synchrony Financial has 212 agreements indexed on this site. Across that lineup purchase rates span 0% to 34.99%; this filing's 34.99% sits above 35 of the comparable ones.

What you cannot learn from the filing

The disclosure parsed here does not state anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

The document itself

The filed PDF is linked from this page and runs five pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

The defining fact about this filing is the purchase rate: at 34.99% it is in the expensive band of this corpus, and that cost only materialises for someone who revolves a balance.