Varsity Dealers Credit Card Agreement and Pricing Addendum

The Varsity Dealers Credit Card Agreement and Pricing Addendum filing from Synchrony Financial sets out 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

What follows is drawn entirely from Synchrony Financial's CFPB filing for Varsity Dealers 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.

Where the purchase APR sits

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.

The arithmetic of revolving

At the disclosed purchase APR, $3,000 revolving for a full year costs something like $1,256 in interest.

Against the corpus median of 21.99%, that is approximately $518 a year of extra interest on the same $3,000.

There is also a floor: the filing sets a minimum interest charge of $2, so any cycle that accrues less than that is billed at $2 anyway.

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.

When a payment is late

The agreement discloses penalty pricing of 39.99% — about the 86th percentile of the 794 penalty rates recorded across this index.

The jump from 34.99% to 39.99% is 5 percentage points, worth roughly $73 extra per year on $1,000 of balance.

The maximum late fee is $41 — roughly the 89th percentile of the late fee ceilings disclosed across this index.

The no-interest path

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.

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

Against the rest of Synchrony Financial's filings

Synchrony Financial has 212 agreements indexed on this site. Their disclosed purchase rates run from 0% to 34.99%, and this one at 34.99% is more expensive than 35 of them.

What you cannot learn from the filing

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.

Go to the source

This summary stands or falls on the linked PDF — five pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

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.