Pieratts Credit Card Account Agreement and Pricing Addendum

Synchrony Financial's filed agreement for Pieratts Credit Card Account Agreement and Pricing Addendum discloses a 34.99% purchase APR and a 39.99% penalty rate. The purchase rate sits at roughly the 84th percentile of the 4,587 agreements indexed here.

What the document actually states

Synchrony Financial submitted the terms for Pieratts Credit Card Account 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.

How the purchase rate compares

At 34.99%, the purchase APR falls at roughly the 84th percentile of the 2,280 filings indexed here, which sits in the expensive end of the corpus.

Translating the rate into money

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $628 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $369. The gap — roughly $259 a year on $1,500 — is the price of this particular filing over a typical one.

Note the $2 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

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.

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.

Grace period and minimum charge

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.

Inside Synchrony Financial's filed lineup

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.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Where the authority sits

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

The defining fact about this filing is the purchase rate: at 34.99% it is in the expensive band of this corpus, and that cost only materialises for someone who revolves a balance.