Discount Tire Credit Card Agreement and Pricing Addendum

The Discount Tire Credit Card Agreement and Pricing Addendum filing from Synchrony Financial sets out a 34.99% purchase APR and a 39.99% penalty rate. That purchase rate ranks near the 84th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

Synchrony Financial submitted the terms for Discount Tire Credit Card Agreement and Pricing Addendum to the CFPB's agreement database; this is what they contain. 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 is well above what most issuers disclosed.

The arithmetic of revolving

Put $1,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $419.

On a median-priced agreement from this index (21.99%) the same $1,000 would run about $246 a year, so this card costs in the region of $173 more annually for the identical 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.

Grace period and minimum charge

23 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That is shorter than the 25-day corpus median.

Where interest applies at all, the filing bills at least $2. On a tiny balance that floor can dwarf the rate itself.

Penalty pricing and late fees

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

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.

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

The issuer's other agreements

There are 212 filings from Synchrony Financial in this index. Their disclosed purchase rates run from 0% to 34.99%, and this one at 34.99% is more expensive than 35 of them.

What you cannot learn from the filing

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

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.