Retail Charge Agreement HI20 W

Preferred Credit's filed agreement for Retail Charge Agreement HI20 W discloses a 17.99% purchase APR. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

The disclosed terms

Retail Charge Agreement HI20 W is one of the agreements Preferred Credit has on file with the CFPB. 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.

Pricing the purchase rate

Measured against every other filing on the site, 17.99% is about the 28th percentile for purchase APR; it is on the cheaper side of the median.

What the rate means in dollars

At the disclosed purchase APR, $2,500 revolving for a full year costs something like $493 in interest.

The corpus median purchase rate is 21.99%, which on the same $2,500 would cost about $615 a year. This filing saves roughly $122 annually against that benchmark.

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

Grace period and minimum charge

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

The downside terms

On the fee side, a late payment can cost up to $35, which is around the 54th percentile here.

The issuer's other agreements

There are 124 filings from Preferred Credit in this index. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 17.99% sits above 0 of the comparable ones.

The limits of this document

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.

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.

The document itself

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

17.99% 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.