Synchrony Preferred Mastercard Account Agreement and Pricing Addendum FINAL

Synchrony Financial's filed agreement for Synchrony Preferred Mastercard Account Agreement and Pricing Addendum FINAL discloses a 19.74% purchase APR and a 29.74% penalty rate. The purchase rate sits at roughly the 41st percentile of the 4,587 agreements indexed here.

What the document actually states

Synchrony Preferred Mastercard Account Agreement and Pricing Addendum FINAL is one of the agreements Synchrony Financial has on file with the CFPB. It is issued on the Mastercard network and the filing runs seven pages.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and a late payment maximum. It is silent on an annual fee line.

Where the purchase APR sits

At 19.74%, the purchase APR falls at roughly the 41st percentile of the 2,280 filings indexed here, which is about typical for the filings collected here.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

Translating the rate into money

Carry $4,000 on this card for a year without paying it down and the purchase rate alone generates roughly $873 in interest.

The corpus median purchase rate is 21.99%, which on the same $4,000 would cost about $983 a year. This filing saves roughly $111 annually against that benchmark.

Per statement cycle that is on the order of $65.41 on $4,000, 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.

The grace period

Purchases carry a 23-day grace period: pay the statement in full inside it and the purchase rate never applies. 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.

Default pricing

The agreement discloses penalty pricing of 29.74% — about the 55th percentile of the 794 penalty rates recorded across this index.

A default therefore reprices the debt by 10 points: about $128 a year more on $1,000, for as long as the penalty rate stands.

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

Fees, and what triggers them

Taking cash against the card means a cash advance fee of $10 or 5% of the advance, whichever is greater and a cash advance APR of 22.74%. That is 3 points above the purchase rate. Advances under roughly $200 are charged the flat $10; larger ones are charged 5%.

Moving a balance onto this card carries an up-front charge of $10 or 4% of the amount transferred, whichever is greater, with the transferred balance priced at 19.74%. On $5,000 that fee is about $200 before any interest is charged.

Spending abroad costs an extra 3% — about $30 on $1,000 of purchases, independent of interest.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

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 19.74% is more expensive than 15 of them.

What you cannot learn from the filing

The disclosure parsed here does not state an annual 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.

Reading the agreement yourself

The original filing, 7 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

The pricing here is middling by the standards of the index — 19.74% on purchases is near enough to typical.