Retail Charge Agreement E MN04 R

The Retail Charge Agreement E MN04 R filing from Preferred Credit sets out a 18% purchase APR. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

What the document actually states

This page covers the agreement Preferred Credit filed for Retail Charge Agreement E MN04 R. 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.

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

Pricing the purchase rate

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

Translating the rate into money

Carry $3,000 on this card for a year without paying it down and the purchase rate alone generates roughly $591 in interest.

A typical filing in this index would charge about $738 on that balance; this one is roughly $146 a year below it.

Month to month it reads as about $44.70 per cycle on that balance.

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.

Default pricing

The maximum late fee is $9.36 — roughly the 5th percentile of the late fee ceilings disclosed across this index.

Grace period and minimum charge

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

How it sits in the issuer's own range

This is one of 124 Preferred Credit agreements collected here. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 18% sits above 53 of the comparable ones.

What is outside the disclosure

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

Everything here is a reading of the filed agreement, five pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

18% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. 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.