Soma Credit Card Account Agreement and Pricing Addendum FINAL

Pricing in Synchrony Financial's Soma 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.

On the face of the filing

Synchrony Financial filed this agreement for Soma Credit Card Account Agreement and Pricing Addendum FINAL with the Consumer Financial Protection Bureau. The filing runs six pages.

On the record here: a penalty rate, an annual fee line, a late payment maximum and a grace period. It is silent on a purchase rate, a cash advance rate and a balance transfer rate.

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

Priced off the Prime Rate

What this agreement discloses is a set of margins added to the Prime Rate. Until Prime is supplied, none of these figures is an APR, and this page will not treat them as one.

The margins captured from the filing are 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.

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

When a payment is late

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

Where the fees are

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

The grace period

The filing gives 23 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. With a corpus median of 25 days, this window is narrower than the norm.

Where interest applies at all, the filing bills at least $2. On a tiny balance that floor can dwarf the rate itself.

The issuer's other agreements

There are 212 filings from Synchrony Financial in this index. Their disclosed purchase rates run from 0% to 34.99%, though this particular filing does not state one in comparable form.

On fees, 11 of the 16 sibling filings that disclose an annual fee also set it at zero — this one is among them.

What is outside the disclosure

The disclosure parsed here does not state a purchase rate, anything about cash advances, balance transfer terms 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.

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.

Reading the agreement yourself

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

In short

What can be said is how this card is priced, not what it costs. That distinction is the whole of the analysis here, and the agreement is the place to confirm the index it uses.