La Z Boy Funiture Galleries Credit Card Account Agreement and Pricing Addendum

On the record for La Z Boy Funiture Galleries 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

What follows is drawn entirely from Synchrony Financial's CFPB filing for La Z Boy Funiture Galleries Credit Card Account Agreement and Pricing Addendum. 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.

How the purchase rate compares

Ranked against the corpus, this purchase APR — 34.99% — sits at approximately the 84th percentile and sits in the expensive end of the corpus.

What the rate means in dollars

At the disclosed purchase APR, $5,000 revolving for a full year costs something like $2,093 in interest.

On a median-priced agreement from this index (21.99%) the same $5,000 would run about $1,229 a year, so this card costs in the region of $864 more annually for the identical balance.

Small balances do not get a proportionally small bill — the agreement imposes a $2 minimum interest charge in any month where interest applies.

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.

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.

The $2 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The downside terms

A penalty APR of 39.99% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 86th percentile.

The jump from 34.99% to 39.99% is 5 percentage points, worth roughly $73 extra per year on $1,000 of balance.

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

How it sits in the issuer's own range

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

The limits of this document

Absent from the captured terms: anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. The original document is the place to look for any of these.

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.

The document itself

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

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.