Midas Credit Card Agreement and Pricing Addendum

Synchrony Financial's filed agreement for Midas Credit Card Agreement and Pricing Addendum discloses a 34.99% purchase APR and a 39.99% penalty rate. Against the 4,587 filings on this site, that rate lands around the 84th percentile.

What the document actually states

Midas Credit Card Agreement and Pricing Addendum is one of the agreements Synchrony Financial has on file with the CFPB. The filing runs five pages.

The filing is explicit about 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

Measured against every other filing on the site, 34.99% is about the 84th percentile for purchase APR; it is costlier than the large majority of filings here.

Translating the rate into money

Carry $2,500 on this card for a year without paying it down and the purchase rate alone generates roughly $1,047 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $615. The gap — roughly $432 a year on $2,500 — 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.

Default pricing

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.

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.

$41 is the disclosed ceiling on a late payment fee, placing it near the 89th percentile of the set.

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.

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

The issuer's other agreements

This is one of 212 Synchrony Financial agreements collected here. Across that lineup purchase rates span 0% to 34.99%; this filing's 34.99% sits above 35 of the comparable ones.

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.

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.

The document itself

The original filing, 5 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

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.