Retail Charge Agreement NY19 R

On the record for Retail Charge Agreement NY19 R: a 21.99% purchase APR, filed by Preferred Credit. That purchase rate ranks near the 49th percentile across this corpus of 4,587 filings.

On the face of the filing

What follows is drawn entirely from Preferred Credit's CFPB filing for Retail Charge Agreement NY19 R. 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.

The purchase rate in context

At 21.99%, the purchase APR falls at roughly the 49th percentile of the 2,280 filings indexed here, which lands near the median.

The arithmetic of revolving

Put $3,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $738.

The corpus median of 21.99% produces practically the same bill, so on carrying cost this card is unremarkable.

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.

When a payment is late

$20 is the disclosed ceiling on a late payment fee, placing it near the 17th percentile of the set.

The no-interest path

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

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

The limits of this document

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.

Against the rest of Preferred Credit's filings

124 separate Preferred Credit filings appear in the corpus. The issuer's own range is 17.99%–21.99%. At 21.99%, this agreement is dearer than 84 of its siblings.

Go to the source

This summary stands or falls on the linked PDF — five pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

At 21.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.