NAMM Credit Card Agreement and Pricing Addendum

NAMM Credit Card Agreement and Pricing Addendum, as filed by Synchrony Financial, carries 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.

On the face of the filing

Synchrony Financial filed this agreement for NAMM Credit Card Agreement and Pricing Addendum with the Consumer Financial Protection Bureau. The filing runs five pages.

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

Where the purchase APR sits

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 a balance actually costs

The purchase rate turns a $2,500 revolving balance into roughly $1,047 of annual 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.

Per statement cycle that is on the order of $72.91 on $2,500, which is the number that actually shows up on a bill.

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.

When a payment is late

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

That is 5 points above the standard purchase rate. On a $2,000 balance, the shift from 34.99% to 39.99% adds something like $145 of interest over a year — the real cost of the default, quite apart from the fee itself.

$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. With a corpus median of 25 days, this window is narrower than the norm.

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

The issuer's other agreements

This is one of 212 Synchrony Financial agreements collected here. The issuer's own range is 0%–34.99%. At 34.99%, this agreement is dearer than 35 of its siblings.

What you cannot learn from the filing

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.

Where the authority sits

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

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.