Retail Charge Agreement ¬ CA23 W

Preferred Credit's filed agreement for Retail Charge Agreement ¬ CA23 W discloses a 17.99% purchase APR. The purchase rate sits at roughly the 28th percentile of the 4,587 agreements indexed here.

What this filing discloses

Preferred Credit filed this agreement for Retail Charge Agreement ¬ CA23 W with the Consumer Financial Protection Bureau. The filing runs five pages.

The filing is explicit about 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.

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

Where the purchase APR sits

17.99% puts the purchase APR near the 28th percentile across 2,280 agreements, so it comes in under the midpoint of the corpus.

What a balance actually costs

Put $1,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $296.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $73 annually against that benchmark.

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 downside terms

Late payments are capped at $15 under this filing, about the 11th percentile of late fee maximums in the corpus.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

A minimum interest charge of $0.50 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

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.

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 issuer's other agreements

124 separate Preferred Credit filings appear in the corpus. Their disclosed purchase rates run from 17.99% to 21.99%, and this one at 17.99% is more expensive than 0 of them.

Where the authority sits

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

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.