CareCredit Mastercard Agreement and Pricing Addendum FINAL

The CareCredit Mastercard Agreement and Pricing Addendum FINAL filing from Synchrony Financial sets out a 32.99% purchase APR and a 39.99% penalty rate. The purchase rate sits at roughly the 78th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

What follows is drawn entirely from Synchrony Financial's CFPB filing for CareCredit Mastercard Agreement and Pricing Addendum FINAL. It is issued on the Mastercard network and the filing runs six pages.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and a late payment maximum. It is silent on an annual fee line.

Pricing the purchase rate

Ranked against the corpus, this purchase APR — 32.99% — sits at approximately the 78th percentile and is dearer than the typical filing.

The arithmetic of revolving

Put $1,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $586.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $369. The gap — roughly $217 a year on $1,500 — is the price of this particular filing over a typical one.

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.

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.

The fee structure

Cash advances carry a cash advance fee of $10 or 4% of the advance, whichever is greater and a cash advance APR of 32.99%. Advances under roughly $250 are charged the flat $10; larger ones are charged 4%.

The transfer fee is $5 or 5% of the amount transferred, whichever is greater; transferred balances then run at 32.99%. On $2,000 that fee is about $100 before any interest is charged.

Foreign transactions attract 3%. On $5,000 of overseas spending that is $150, charged on top of whatever exchange rate applies.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

Default pricing

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

That is 7 points above the standard purchase rate. On a $3,000 balance, the shift from 32.99% to 39.99% adds something like $302 of interest over a year — the real cost of the default, quite apart from the fee itself.

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

Grace period and minimum charge

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.

What is outside the disclosure

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

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

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 32.99%, this agreement is dearer than 31 of its siblings.

Go to the source

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

In short

32.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.