Retail Charge Agreement E FL04 R

The Retail Charge Agreement E FL04 R filing from Preferred Credit sets out a 18% purchase APR. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

What the document actually states

Preferred Credit filed this agreement for Retail Charge Agreement E FL04 R with the Consumer Financial Protection Bureau. The filing runs five pages.

On the record here: 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

The purchase APR of 18% places this agreement around the 34th percentile of the set — it is on the cheaper side of the median.

The cost of carrying a balance

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $296 in interest.

Priced at the median of 21.99%, that balance would generate about $369 in a year — so this agreement comes in around $73 cheaper for the same debt.

Broken down to a single thirty-day cycle, the same balance accrues roughly $22.35.

Small balances do not get a proportionally small bill — the agreement imposes a $1 minimum interest charge in any month where interest applies.

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

The downside terms

The maximum late fee is $10 — roughly the 6th percentile of the late fee ceilings disclosed across this index.

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 $1. On a tiny balance that floor can dwarf the rate itself.

How it sits in the issuer's own range

There are 124 filings from Preferred Credit in this index. Their disclosed purchase rates run from 17.99% to 21.99%, and this one at 18% is more expensive than 53 of them.

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.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Where the authority sits

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 18% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.