Retail Charge Agreement/ Security Agreement

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

The disclosed terms

Preferred Credit filed this agreement for Retail Charge Agreement/ Security Agreement with the Consumer Financial Protection Bureau. The filing runs five pages.

Terms captured from the document include a purchase rate and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

The purchase rate in context

Measured against every other filing on the site, 17.99% is about the 28th percentile for purchase APR; it undercuts the typical filing.

The arithmetic of revolving

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $236.

A typical filing in this index would charge about $295 on that balance; this one is roughly $59 a year below it.

Month to month it reads as about $17.87 per cycle on that balance.

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 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.

Where interest applies at all, the filing bills at least $0.50. On a tiny balance that floor can dwarf the rate itself.

What the filing does not tell you

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.

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 17.99%, this agreement is dearer than 0 of its siblings.

Reading the agreement yourself

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

At 17.99% 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.