Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Purchase APR | 17.99% |
|---|---|
| Late payment fee | up to $10 |
| Grace period | 25 days |
| Minimum interest charge | $0.5 |
Analysis
Preferred Credit's filed agreement for Pricing Addendum MA18 W discloses a 17.99% purchase APR. Against the 4,587 filings on this site, that rate lands around the 28th percentile.
What the document actually states
Preferred Credit submitted the terms for Pricing Addendum MA18 W to the CFPB's agreement database; this is what they contain. The filing runs one page.
Terms captured from the document include a purchase rate, a late payment maximum and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.
Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.
The purchase rate in context
17.99% puts the purchase APR near the 28th percentile across 2,280 agreements, so it is on the cheaper side of the median.
What a balance actually costs
At the disclosed purchase APR, $2,000 revolving for a full year costs something like $394 in interest.
Measured against the 21.99% corpus median, the same $2,000 costs approximately $98 less per year here.
Month to month it reads as about $29.78 per cycle on that balance.
There is also a floor: the filing sets a minimum interest charge of $0.50, so any cycle that accrues less than that is billed at $0.50 anyway.
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.
Default pricing
Late payments are capped at $10 under this filing, about the 6th percentile of late fee maximums in the corpus.
Paying in full
Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. 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.
The issuer's other agreements
This is one of 124 Preferred Credit agreements collected here. The issuer's own range is 17.99%–21.99%. At 17.99%, this agreement is dearer than 0 of its siblings.
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.
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.
The document itself
The filed PDF is linked from this page and runs one page. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.
In short
At 17.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.
The source document
This page is a reading of one document: the cardholder agreement Preferred Credit filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Preferred Credit, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Preferred Credit
-
Nonnegotiable Consumer Note/Retail Charge Agreement/Security Agreement
Agreement filed with the CFPB
- Purchase APR
- 17.99%
-
Pricing Addendum EE CAC04 W
Agreement filed with the CFPB
- Purchase APR
- 17.99%
-
Pricing Addendum EE DC05 W
Agreement filed with the CFPB
- Purchase APR
- 17.99%
-
Pricing Addendum EE FL04 W
Agreement filed with the CFPB
- Purchase APR
- 17.99%
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed purchase APR among cards in the same groups.