Agreements as filed with the CFPB. Not an offer of credit. How we read them
CreditCardB

Preferred Credit

Retail Charge Agreement E DC03 R

The filed agreement discloses a purchase APR of 21.99%. Below: every term the document states, what it leaves out, and how the cost compares with the rest of the database.

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.

Terms as disclosed in the filed agreement for Retail Charge Agreement E DC03 R
Purchase APR21.99%
Late payment feeup to $15
Grace period25 days
Minimum interest charge$0.5

Analysis

Retail Charge Agreement E DC03 R, as filed by Preferred Credit, carries a 21.99% purchase APR. The purchase rate sits at roughly the 49th percentile of the 4,587 agreements indexed here.

The disclosed terms

The document behind this page is Preferred Credit's filed agreement for Retail Charge Agreement E DC03 R. The filing runs five pages.

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.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

Where the purchase APR sits

Ranked against the corpus, this purchase APR — 21.99% — sits at approximately the 49th percentile and sits close to the middle of the corpus.

The arithmetic of revolving

Put $1,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $369.

The corpus median of 21.99% produces practically the same bill, so on carrying cost this card is unremarkable.

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

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

Where interest applies at all, the filing bills at least $0.50. On a tiny balance that floor can dwarf the rate itself.

What a missed payment costs

$15 is the disclosed ceiling on a late payment fee, placing it near the 11th percentile of the set.

How it sits in the issuer's own range

There are 124 filings from Preferred Credit in this index. The issuer's own range is 17.99%–21.99%. At 21.99%, this agreement is dearer than 84 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.

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.

Go to the source

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

In short

At 21.99% 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.

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.

Open the filed agreement (PDF)

Applications are handled by Preferred Credit, not by us. We do not take applications and cannot say whether you would be approved.

Go to Preferred Credit

Other cards from Preferred Credit

All 124 agreements from Preferred Credit

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.