Sleep Number Credit Card Account Agreement and Pricing Addendum

The Sleep Number Credit Card Account 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.

On the face of the filing

The document behind this page is Synchrony Financial's filed agreement for Sleep Number Credit Card Account Agreement and Pricing Addendum. 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.

Pricing the purchase rate

At 34.99%, the purchase APR falls at roughly the 84th percentile of the 2,280 filings indexed here, which is well above what most issuers disclosed.

What a balance actually costs

Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $837.

Against the corpus median of 21.99%, that is approximately $346 a year of extra interest on the same $2,000.

Month to month it reads as about $58.32 per cycle on that balance.

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

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

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.

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

The no-interest path

23 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. The typical filing here allows 25 days, so this one is tighter than most.

A minimum interest charge of $2 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

How it sits in the issuer's own range

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.

The limits of this document

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.

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.

Go to the source

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.