Retail Charge Agreement NY18 R

Retail Charge Agreement NY18 R, as filed by Preferred Credit, carries a 21.99% purchase APR. That purchase rate ranks near the 49th percentile across this corpus of 4,587 filings.

The disclosed terms

The document behind this page is Preferred Credit's filed agreement for Retail Charge Agreement NY18 R. The filing runs five pages.

The disclosure covers 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.

The purchase rate in context

Set beside the rest of the index, the purchase APR of 21.99% lands at the 49th percentile; it is about typical for the filings collected here.

Translating the rate into money

A $5,000 balance left untouched for twelve months accrues about $1,229 in interest at this purchase rate.

That is almost exactly what a median-priced filing in this index would charge on the same balance, since the corpus median sits at 21.99%.

Month to month it reads as about $91.16 per cycle on that balance.

Small balances do not get a proportionally small bill — the agreement imposes a $0.70 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.

Penalty pricing and late fees

$5 is the disclosed ceiling on a late payment fee, placing it near the 4th percentile of the set.

Paying in full

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

A minimum interest charge of $0.70 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

The issuer's other agreements

This is one of 124 Preferred Credit agreements collected here. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 21.99% sits above 84 of the comparable ones.

What you cannot learn from the filing

The disclosure parsed here does not state anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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

The filed PDF is linked from this page and runs five pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

21.99% 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.