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 | 18% |
|---|---|
| Late payment fee | up to $10 |
| Grace period | 25 days |
| Minimum interest charge | $0.5 |
Analysis
Preferred Credit's filed agreement for Retail Charge Agreement CT17 R discloses a 18% purchase APR. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.
What this filing discloses
Preferred Credit filed this agreement for Retail Charge Agreement CT17 R 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. No figure appears for 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.
How the purchase rate compares
At 18%, the purchase APR falls at roughly the 34th percentile of the 2,280 filings indexed here, which is on the cheaper side of the median.
The arithmetic of revolving
At the disclosed purchase APR, $5,000 revolving for a full year costs something like $986 in interest.
The corpus median purchase rate is 21.99%, which on the same $5,000 would cost about $1,229 a year. This filing saves roughly $244 annually against that benchmark.
Small balances do not get a proportionally small bill — the agreement imposes a $0.50 minimum interest charge in any month where interest applies.
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.
The no-interest path
Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.
Where interest applies at all, the filing bills at least $0.50. On a tiny balance that floor can dwarf the rate itself.
The downside terms
The maximum late fee is $10 — roughly the 6th percentile of the late fee ceilings disclosed across this index.
How it sits in the issuer's own range
This is one of 124 Preferred Credit agreements collected here. The issuer's own range is 17.99%–21.99%. At 18%, this agreement is dearer than 53 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.
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.
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
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.
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
-
Pricing Addendum EE FL04 R
Agreement filed with the CFPB
- Purchase APR
- 18%
-
Pricing Addendum EE MA04 R
Agreement filed with the CFPB
- Purchase APR
- 18%
-
Pricing Addendum EE MN04 R
Agreement filed with the CFPB
- Purchase APR
- 18%
-
Pricing Addendum MA17 R
Agreement filed with the CFPB
- Purchase APR
- 18%
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.