Summit Racing Credit Card Agreement and Pricing Addendum

The Summit Racing Credit Card 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

What follows is drawn entirely from Synchrony Financial's CFPB filing for Summit Racing Credit Card Agreement and Pricing Addendum. 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

34.99% puts the purchase APR near the 84th percentile across 2,280 agreements, so it sits in the expensive end of the corpus.

The arithmetic of revolving

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $1,047.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $615. The gap — roughly $432 a year on $2,500 — is the price of this particular filing over a typical one.

Broken down to a single thirty-day cycle, the same balance accrues roughly $72.91.

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.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

When a payment is late

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

A default therefore reprices the debt by 5 points: about $218 a year more on $3,000, for as long as the penalty rate stands.

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

Grace period and minimum charge

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.

A minimum interest charge of $2 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

Inside Synchrony Financial's filed lineup

Synchrony Financial has 212 agreements indexed on this site. The issuer's own range is 0%–34.99%. At 34.99%, this agreement is dearer than 35 of its siblings.

What the filing does not tell you

This page cannot tell you anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee, because the filing's disclosure table as read does not contain them.

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.

Reading the agreement yourself

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

In short

34.99% on purchases is the number that dominates this agreement. Paid in full each cycle it never applies; carried, it is among the dearer prices in this index.