Sport Retail Credit Card Account Agreement and Pricing Addendum

The Sport Retail Credit Card Account Agreement and Pricing Addendum filing from Synchrony Financial sets out 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.

What the document actually states

Synchrony Financial submitted the terms for Sport Retail Credit Card Account Agreement and Pricing Addendum to the CFPB's agreement database; this is what they contain. 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.

How the purchase rate compares

Ranked against the corpus, this purchase APR — 34.99% — sits at approximately the 84th percentile and lands high in the distribution.

The cost of carrying a balance

Put $3,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $1,256.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $738. The gap — roughly $518 a year on $3,000 — is the price of this particular filing over a typical one.

Per statement cycle that is on the order of $87.49 on $3,000, which is the number that actually shows up on a bill.

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

The agreement discloses penalty pricing of 39.99% — about the 86th percentile of the 794 penalty rates recorded across this index.

Measured in money, moving from 34.99% to 39.99% costs an extra $145 or so annually on $2,000 — a far larger number than any single late fee.

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

The grace period

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

There are 212 filings from Synchrony Financial in this index. The issuer's own range is 0%–34.99%. At 34.99%, this agreement is dearer than 35 of its siblings.

What you cannot learn from the filing

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.

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.

The document itself

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.