Soma Mastercard Account Agreement and Pricing Addendum FINAL

Synchrony Financial prices Soma Mastercard Account Agreement and Pricing Addendum FINAL as a margin over the Prime Rate rather than as a fixed APR, so the filing discloses the spread but not the cost. This page explains what that means and sets the other disclosed terms against the corpus.

What the document actually states

What follows is drawn entirely from Synchrony Financial's CFPB filing for Soma Mastercard Account Agreement and Pricing Addendum FINAL. It is issued on the Mastercard network and the filing runs six pages.

The filing is explicit about 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.

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

A margin over Prime, not a rate

Pricing here is disclosed in the form "Prime plus a margin". The numbers in this document are therefore the margin component only, and cannot be read as the cost of borrowing on their own.

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

This structure makes the card impossible to price from the filing in isolation — and deliberately so. The rate is whatever Prime is when the statement closes, plus the margin above.

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

What the card costs before you borrow

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Taking cash against the card means a cash advance fee of $10 or 5% of the advance, whichever is greater. $200 is the crossover point where the percentage overtakes the $10 minimum.

When a payment is late

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

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. 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.

Inside Synchrony Financial's filed lineup

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.

11 of the issuer's other 16 disclosing filings are likewise fee-free.

What you cannot learn from the filing

The disclosure parsed here does not state a purchase rate, 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.

The document itself

Everything here is a reading of the filed agreement, six pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

The honest summary is that this filing discloses a structure rather than a price. The margins are real and comparable to each other; the cost of borrowing is whatever Prime makes it.