Retail Charge Agreement MN01 R

Preferred Credit's filed agreement for Retail Charge Agreement MN01 R discloses a 18% purchase APR. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

On the face of the filing

The document behind this page is Preferred Credit's filed agreement for Retail Charge Agreement MN01 R. The filing runs four pages.

The filing is explicit about a purchase rate and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

Where the purchase APR sits

Measured against every other filing on the site, 18% is about the 34th percentile for purchase APR; it is on the cheaper side of the median.

The cost of carrying a balance

A $1,000 balance left untouched for twelve months accrues about $197 in interest at this purchase rate.

A typical filing in this index would charge about $246 on that balance; this one is roughly $49 a year below it.

Small balances do not get a proportionally small bill — the agreement imposes a $0.50 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 grace period

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.

The $0.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

How it sits in the issuer's own range

124 separate Preferred Credit filings appear in the corpus. The issuer's own range is 17.99%–21.99%. At 18%, this agreement is dearer than 53 of its siblings.

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.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

The document itself

This summary stands or falls on the linked PDF — four 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. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.