Pricing Addendum HI23 R

On the record for Pricing Addendum HI23 R: a 19% purchase APR, filed by Preferred Credit. The purchase rate sits at roughly the 40th percentile of the 4,587 agreements indexed here.

What the document actually states

Preferred Credit submitted the terms for Pricing Addendum HI23 R to the CFPB's agreement database; this is what they contain. The filing runs one page.

On the record here: a purchase rate, a late payment maximum and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

The purchase rate in context

The purchase APR of 19% places this agreement around the 40th percentile of the set — it lands near the median.

The arithmetic of revolving

At the disclosed purchase APR, $2,500 revolving for a full year costs something like $523 in interest.

Measured against the 21.99% corpus median, the same $2,500 costs approximately $92 less per year here.

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.

What a missed payment costs

On the fee side, a late payment can cost up to $35, which is around the 54th percentile here.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

Inside Preferred Credit's filed lineup

Preferred Credit has 124 agreements indexed on this site. The issuer's own range is 17.99%–21.99%. At 19%, this agreement is dearer than 76 of its siblings.

The limits of this document

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.

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

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

In short

At 19% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.