Synchrony Car Care Credit Card Agreement and Pricing Addendum

On the record for Synchrony Car Care Credit Card Agreement and Pricing Addendum: a 34.99% purchase APR and a 39.99% penalty rate, filed by Synchrony Financial. The purchase rate sits at roughly the 84th percentile of the 4,587 agreements indexed here.

What this filing discloses

What follows is drawn entirely from Synchrony Financial's CFPB filing for Synchrony Car Care Credit Card Agreement and Pricing Addendum. 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

Ranked against the corpus, this purchase APR — 34.99% — sits at approximately the 84th percentile and is well above what most issuers disclosed.

The cost of carrying a balance

Carry $1,000 on this card for a year without paying it down and the purchase rate alone generates roughly $419 in interest.

On a median-priced agreement from this index (21.99%) the same $1,000 would run about $246 a year, so this card costs in the region of $173 more annually for the identical balance.

Per statement cycle that is on the order of $29.16 on $1,000, which is the number that actually shows up on a bill.

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.

A default therefore reprices the debt by 5 points: about $145 a year more on $2,000, for as long as the penalty rate stands.

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

Paying in full

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.

Against the rest of Synchrony Financial's filings

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 the filing does not tell you

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.

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.

The document itself

Everything here is a reading of the filed agreement, five pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

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.