MyWalgreens Credit Card Account Agreement and Pricing Addendum FINAL

Pricing in Synchrony Financial's MyWalgreens Credit Card Account Agreement and Pricing Addendum FINAL agreement is expressed relative to the Prime Rate. This review treats those figures as margins, which is what they are, and compares the fee terms that can be compared.

What this filing discloses

MyWalgreens Credit Card Account Agreement and Pricing Addendum FINAL is one of the agreements Synchrony Financial has on file with the CFPB. The filing runs six pages.

On the record here: a penalty rate, a late payment maximum and a grace period. No figure appears for a purchase rate, a cash advance rate and a balance transfer rate.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

How this filing expresses its pricing

The rate figures in this agreement are expressed as margins over the Prime Rate rather than as absolute APRs. A margin is not a rate: the rate is the margin plus whatever Prime happens to be.

The filing's margin figures come to 39.99 points for penalty pricing.

The practical consequence is that this card has no single disclosed price. The cost of carrying a balance moves whenever the Prime Rate moves, in lockstep and without notice, and no arithmetic on this page can tell you what it costs today.

These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.

Paying in full

23 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. 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.

Penalty pricing and late fees

Late payments are capped at $40 under this filing, about the 72nd percentile of late fee maximums in the corpus.

Against the rest of Synchrony Financial's filings

212 separate Synchrony Financial filings appear in the corpus. Their disclosed purchase rates run from 0% to 34.99%, though this particular filing does not state one in comparable form.

What you cannot learn from the filing

The disclosure parsed here does not state a purchase rate, anything about cash advances, balance transfer terms and an annual 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 six pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

Margins over Prime make this agreement legible but not priceable from the document alone. Treat the figures above as structure, and look up the current Prime Rate before drawing conclusions.