LensCrafters Credit Card Agreement and Pricing Addendum

On the record for LensCrafters Credit Card Agreement and Pricing Addendum: a 34.99% purchase APR and a 39.99% penalty rate, filed by Synchrony Financial. Against the 4,587 filings on this site, that rate lands around the 84th percentile.

What this filing discloses

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

On the record here: a purchase rate, a penalty rate, a late payment maximum and a grace period. A cash advance rate, a balance transfer rate and an annual fee line are not stated.

Pricing the purchase rate

34.99% puts the purchase APR near the 84th percentile across 2,280 agreements, so it sits in the expensive end of the corpus.

The arithmetic of revolving

Put $3,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $1,256.

Against the corpus median of 21.99%, that is approximately $518 a year of extra interest on the same $3,000.

Small balances do not get a proportionally small bill — the agreement imposes a $2 minimum interest charge in any month where interest applies.

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

Grace period and minimum charge

Purchases carry a 23-day grace period: pay the statement in full inside it and the purchase rate never applies. With a corpus median of 25 days, this window is narrower than the norm.

A minimum interest charge of $2 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

When a payment is late

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

That is 5 points above the standard purchase rate. On a $2,000 balance, the shift from 34.99% to 39.99% adds something like $145 of interest over a year — the real cost of the default, quite apart from the fee itself.

$41 is the disclosed ceiling on a late payment fee, placing it near the 89th percentile of the set.

How it sits in the issuer's own range

There are 212 filings from Synchrony Financial in this index. Their disclosed purchase rates run from 0% to 34.99%, and this one at 34.99% is more expensive than 35 of them.

What you cannot learn from the filing

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.

Go to the source

This summary stands or falls on the linked PDF — five pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

34.99% on purchases is the number that dominates this agreement. Paid in full each cycle it never applies; carried, it is among the dearer prices in this index.