The Dump Credit Card Account Agreement and Pricing Addendum

On the record for The Dump Credit Card Account Agreement and Pricing Addendum: a 34.99% purchase APR and a 39.99% penalty rate, filed by Synchrony Financial. That purchase rate ranks near the 84th percentile across this corpus of 4,587 filings.

On the face of the filing

What follows is drawn entirely from Synchrony Financial's CFPB filing for The Dump Credit Card Account Agreement and Pricing Addendum. The filing runs five pages.

The disclosure covers a purchase rate, a penalty rate, a late payment maximum and a grace period. No figure appears for 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.

The cost of carrying a balance

Put $4,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $1,675.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $983. The gap — roughly $691 a year on $4,000 — 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.

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.

The no-interest path

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.

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

Default pricing

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.

A default therefore reprices the debt by 5 points: about $182 a year more on $2,500, 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.

Against the rest of Synchrony Financial's filings

There are 212 filings from Synchrony Financial in this index. Across that lineup purchase rates span 0% to 34.99%; this filing's 34.99% sits above 35 of the comparable ones.

What you cannot learn from the filing

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.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

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.