Virgin Red Rewards Mastercard Account Agreement And Pricing Addendum FINAL

Synchrony Financial's filed agreement for Virgin Red Rewards Mastercard Account Agreement And Pricing Addendum FINAL discloses a 12.99% purchase APR, a $99 annual fee and a 22.99% penalty rate. The purchase rate sits at roughly the 10th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

Virgin Red Rewards Mastercard Account Agreement And Pricing Addendum FINAL is one of the agreements Synchrony Financial has on file with the CFPB. The filing runs seven pages, and It is issued on the Mastercard network.

The filing is explicit about a purchase rate, a balance transfer rate, a penalty rate, an annual fee line and a late payment maximum. No figure appears for a cash advance rate and a foreign transaction fee.

Pricing the purchase rate

Measured against every other filing on the site, 12.99% is about the 10th percentile for purchase APR; it is comfortably below what most issuers filed.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

The arithmetic of revolving

Carry $2,000 on this card for a year without paying it down and the purchase rate alone generates roughly $277 in interest.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $214 annually against that benchmark.

Month to month it reads as about $21.46 per cycle on that balance.

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

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

Fees, and what triggers them

The annual fee is $99, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 93rd percentile.

For scale, $99 is approximately what $762 of revolving balance would cost in interest over twelve months at this card's 12.99% rate.

Cash advances carry a cash advance fee of $10 or 5% of the advance, whichever is greater.

Balance transfers cost $5 or 5% of the amount transferred, whichever is greater up front and then accrue at 12.99%. Transferring $7,500 would cost roughly $375 at the door.

Default pricing

If the account defaults, the filing permits a rate of 22.99%. Among disclosing agreements here that ranks near the 33rd percentile.

That is 10 points above the standard purchase rate. On a $2,500 balance, the shift from 12.99% to 22.99% adds something like $299 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 grace period

Anyone clearing the statement balance inside 23 days pays no purchase interest at all under this filing. The typical filing here allows 25 days, so this one is tighter than most.

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. Across that lineup purchase rates span 0% to 34.99%; this filing's 12.99% sits above 6 of the comparable ones.

The limits of this document

This page cannot tell you a foreign transaction fee, because the filing's disclosure table as read does not contain it.

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.

Reading the agreement yourself

The filed PDF is linked from this page and runs seven pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

12.99% places this filing at the inexpensive end of the set, which is the headline here. Against that sits the $99 annual fee, which is unavoidable once the account is open.