Synchrony Home Credit Card Account Agreement and Pricing Addendum

On the record for Synchrony Home Credit Card Account Agreement and Pricing Addendum: a 34.99% purchase APR and a 39.99% penalty rate, filed by Synchrony Financial. Against the 4,587 filings on this site, that rate lands around the 84th percentile.

The disclosed terms

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

The disclosure covers 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.

Where the purchase APR sits

At 34.99%, the purchase APR falls at roughly the 84th percentile of the 2,280 filings indexed here, which lands high in the distribution.

Translating the rate into money

Carry $4,000 on this card for a year without paying it down and the purchase rate alone generates roughly $1,675 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $983. The gap — roughly $691 a year on $4,000 — is the price of this particular filing over a typical one.

Month to month it reads as about $116.65 per cycle on that balance.

Note the $2 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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.

What a missed payment costs

If the account defaults, the filing permits a rate of 39.99%. Among disclosing agreements here that ranks near the 86th percentile.

A default therefore reprices the debt by 5 points: about $145 a year more on $2,000, for as long as the penalty rate stands.

Late payments are capped at $41 under this filing, about the 89th percentile of late fee maximums in the corpus.

The grace period

23 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. With a corpus median of 25 days, this window is narrower than the norm.

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

212 separate Synchrony Financial filings appear in the corpus. 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

The disclosure parsed here does not state anything about cash advances, balance transfer terms, an annual fee 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.

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.

Go to the source

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

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.