Sleep Country Credit Card Account Agreement and Pricing Addendum

Sleep Country Credit Card Account Agreement and Pricing Addendum, as filed by Synchrony Financial, carries a 34.99% purchase APR and a 39.99% penalty rate. That purchase rate ranks near the 84th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

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

The disclosure covers a purchase rate, a penalty rate, a late payment maximum and a grace period. It is silent on a cash advance rate, a balance transfer rate and an annual fee line.

The purchase rate in context

34.99% puts the purchase APR near the 84th percentile across 2,280 agreements, so it is well above what most issuers disclosed.

What a balance actually costs

The purchase rate turns a $2,000 revolving balance into roughly $837 of annual interest.

Against the corpus median of 21.99%, that is approximately $346 a year of extra interest on the same $2,000.

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.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

The grace period

The filing gives 23 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. 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.

Penalty pricing and late fees

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 $145 extra per year on $2,000 of balance.

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

Inside Synchrony Financial's filed lineup

212 separate Synchrony Financial filings appear in the corpus. The issuer's own range is 0%–34.99%. At 34.99%, this agreement is dearer than 35 of its siblings.

What is outside the disclosure

Absent from the captured terms: anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. The original document is the place to look for any of these.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

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.