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Synchrony Financial

Ferguson Credit Card Account Agreement and Pricing Addendum

The filed agreement discloses a purchase APR of 34.99%. Below: every term the document states, what it leaves out, and how the cost compares with the rest of the database.

Disclosed rates and fees

Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.

Terms as disclosed in the filed agreement for Ferguson Credit Card Account Agreement and Pricing Addendum
Purchase APR34.99%
Penalty APR39.99%
Late payment feeup to $41
Grace period23 days
Minimum interest charge$2

Analysis

Ferguson Credit Card Account Agreement and Pricing Addendum, as filed by Synchrony Financial, carries a 34.99% purchase APR and a 39.99% penalty rate. The purchase rate sits at roughly the 84th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

This page covers the agreement Synchrony Financial filed for Ferguson Credit Card Account Agreement and Pricing Addendum. The filing runs five pages.

The filing is explicit about 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.

Where the purchase APR sits

The purchase APR of 34.99% places this agreement around the 84th percentile of the set — it is well above what most issuers disclosed.

Translating the rate into money

Carry $1,000 on this card for a year without paying it down and the purchase rate alone generates roughly $419 in interest.

On a median-priced agreement from this index (21.99%) the same $1,000 would run about $246 a year, so this card costs in the region of $173 more annually for the identical balance.

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

What a missed payment costs

The agreement discloses penalty pricing of 39.99% — about the 86th percentile of the 794 penalty rates recorded across this index.

The jump from 34.99% to 39.99% is 5 percentage points, worth roughly $218 extra per year on $3,000 of balance.

Late payments are capped at $41 under this filing, about the 89th percentile of late fee maximums in the corpus.

Paying in full

Purchases carry a 23-day grace period: pay the statement in full inside it and the purchase rate never applies. The typical filing here allows 25 days, so this one is tighter than most.

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. Their disclosed purchase rates run from 0% to 34.99%, and this one at 34.99% is more expensive than 35 of them.

What the filing does not tell you

This page cannot tell you anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee, because the filing's disclosure table as read does not contain them.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Where the authority sits

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

This is an expensive agreement by the standards of the corpus, driven by a 34.99% purchase rate that is inert for a transactor and punishing for a revolver.

The source document

This page is a reading of one document: the cardholder agreement Synchrony Financial filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.

Open the filed agreement (PDF)

Applications are handled by Synchrony Financial, not by us. We do not take applications and cannot say whether you would be approved.

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Other cards from Synchrony Financial

All 212 agreements from Synchrony Financial