Retail Charge Agreement CT16 R

On the record for Retail Charge Agreement CT16 R: a 18% purchase APR, filed by Preferred Credit. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

The document behind this page is Preferred Credit's filed agreement for Retail Charge Agreement CT16 R. The filing runs five pages.

The filing is explicit about a purchase rate and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.

Where the purchase APR sits

At 18%, the purchase APR falls at roughly the 34th percentile of the 2,280 filings indexed here, which undercuts the typical filing.

The arithmetic of revolving

Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $394.

Measured against the 21.99% corpus median, the same $2,000 costs approximately $97 less per year here.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Grace period and minimum charge

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. 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

124 separate Preferred Credit filings appear in the corpus. The issuer's own range is 17.99%–21.99%. At 18%, this agreement is dearer than 53 of its siblings.

What is outside the disclosure

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.

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.

Reading the agreement yourself

The original filing, 5 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

18% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.