Pricing Addendum EE MN04 W

On the record for Pricing Addendum EE MN04 W: a 17.99% purchase APR, filed by Preferred Credit. The purchase rate sits at roughly the 28th percentile of the 4,587 agreements indexed here.

The disclosed terms

The document behind this page is Preferred Credit's filed agreement for Pricing Addendum EE MN04 W. The filing runs one page.

The disclosure covers a purchase rate, a late payment maximum and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

The purchase APR against the corpus

Measured against every other filing on the site, 17.99% is about the 28th percentile for purchase APR; it undercuts the typical filing.

The cost of carrying a balance

A $2,500 balance left untouched for twelve months accrues about $493 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $615 in a year — so this agreement comes in around $122 cheaper for the same debt.

Note the $0.50 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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

On the fee side, a late payment can cost up to $8.56, which is around the 5th percentile here.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

The $0.50 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 Preferred Credit's filings

Preferred Credit has 124 agreements indexed on this site. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 17.99% sits above 0 of the comparable ones.

What you cannot learn from the filing

This page cannot tell you anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee, because the filing's disclosure table as read does not contain them.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Reading the agreement yourself

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

In short

The pricing here is middling by the standards of the index — 17.99% on purchases is near enough to typical. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.