Payne Credit Card Agreement and Pricing Addendum

Synchrony Financial's filed agreement for Payne Credit Card Agreement and Pricing Addendum discloses a 26.99% purchase APR. The purchase rate sits at roughly the 65th percentile of the 4,587 agreements indexed here.

What this filing discloses

What follows is drawn entirely from Synchrony Financial's CFPB filing for Payne Credit Card Agreement and Pricing Addendum. The filing runs five pages.

Terms captured from the document include a purchase rate, a late payment maximum and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

The purchase APR against the corpus

26.99% puts the purchase APR near the 65th percentile across 2,280 agreements, so it runs above the midpoint of the corpus.

The arithmetic of revolving

A $1,200 balance left untouched for twelve months accrues about $372 in interest at this purchase rate.

On a median-priced agreement from this index (21.99%) the same $1,200 would run about $295 a year, so this card costs in the region of $77 more annually for the identical balance.

Broken down to a single thirty-day cycle, the same balance accrues roughly $26.91.

There is also a floor: the filing sets a minimum interest charge of $2, so any cycle that accrues less than that is billed at $2 anyway.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

Penalty pricing and late fees

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

The grace period

The filing gives 23 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. 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 26.99% is more expensive than 18 of them.

What is outside the disclosure

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.

Reading the agreement yourself

The original filing, 5 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

At 26.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.