Specialized Bicycles Credit Card Account Agreement and Pricing Addendum

Synchrony Financial's filed agreement for Specialized Bicycles Credit Card Account Agreement and Pricing Addendum discloses a 34.99% purchase APR and a 39.99% penalty rate. The purchase rate sits at roughly the 84th percentile of the 4,587 agreements indexed here.

The disclosed terms

Synchrony Financial submitted the terms for Specialized Bicycles Credit Card Account Agreement and Pricing Addendum to the CFPB's agreement database; this is what they contain. The filing runs five pages.

On the record here: a purchase rate, a penalty rate, a late payment maximum and a grace period. A cash advance rate, a balance transfer rate and an annual fee line are not stated.

Pricing the purchase rate

The purchase APR of 34.99% places this agreement around the 84th percentile of the set — it lands high in the distribution.

The cost of carrying a balance

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $419 in interest.

A card priced at the corpus median of 21.99% would charge roughly $246 on that balance. This one charges about $173 more per year.

Per statement cycle that is on the order of $29.16 on $1,000, which is the number that actually shows up on a bill.

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.

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.

That is 5 points above the standard purchase rate. On a $1,000 balance, the shift from 34.99% to 39.99% adds something like $73 of interest over a year — the real cost of the default, quite apart from the fee itself.

The maximum late fee is $41 — roughly the 89th percentile of the late fee ceilings disclosed across this index.

The no-interest path

Purchases carry a 23-day grace period: pay the statement in full inside it and the purchase rate never applies. 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.

The issuer's other agreements

This is one of 212 Synchrony Financial agreements collected here. Their disclosed purchase rates run from 0% to 34.99%, and this one at 34.99% is more expensive than 35 of them.

What the filing does not tell you

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.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

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.