Merlins Credit Card Agreement and Pricing Addendum

Merlins Credit Card 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.

The disclosed terms

Merlins Credit Card Agreement and Pricing Addendum is one of the agreements Synchrony Financial has on file with the CFPB. The filing runs five pages.

The disclosure covers 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.

Where the purchase APR sits

Measured against every other filing on the site, 34.99% is about the 84th percentile for purchase APR; it is costlier than the large majority of filings here.

The arithmetic of revolving

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $1,047.

On a median-priced agreement from this index (21.99%) the same $2,500 would run about $615 a year, so this card costs in the region of $432 more annually for the identical balance.

Per statement cycle that is on the order of $72.91 on $2,500, which is the number that actually shows up on a bill.

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

Default pricing

If the account defaults, the filing permits a rate of 39.99%. Among disclosing agreements here that ranks near the 86th percentile.

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.

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. That is shorter than the 25-day corpus median.

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

What is outside the disclosure

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.

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.

Against the rest of Synchrony Financial's filings

There are 212 filings from Synchrony Financial in this index. The issuer's own range is 0%–34.99%. At 34.99%, this agreement is dearer than 35 of its siblings.

Reading the agreement yourself

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

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.