Retail Charge Agreement MA16 R

The Retail Charge Agreement MA16 R filing from Preferred Credit sets out a 18% purchase APR. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

Retail Charge Agreement MA16 R is one of the agreements Preferred Credit has on file with the CFPB. The filing runs five pages.

The filing is explicit about 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.

These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.

Pricing the purchase rate

18% puts the purchase APR near the 34th percentile across 2,280 agreements, so it undercuts the typical filing.

What a balance actually costs

Put $1,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $197.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $49 annually against that benchmark.

Month to month it reads as about $14.90 per cycle on that balance.

Note the $0.50 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

The downside terms

Late payments are capped at $10 under this filing, about the 6th percentile of late fee maximums in the corpus.

Paying in full

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

A minimum interest charge of $0.50 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

How it sits in the issuer's own range

Preferred Credit has 124 agreements indexed on this site. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 18% sits above 53 of the comparable ones.

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.

Reading the agreement yourself

The original filing, 5 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical. 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.