Retail Charge Agreement/ Security Agreement

Retail Charge Agreement/ Security Agreement, 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.

What the agreement puts on the record

This page covers the agreement Preferred Credit filed for Retail Charge Agreement/ Security Agreement. The filing runs five pages.

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

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

Where the purchase APR sits

The purchase APR of 21.99% places this agreement around the 49th percentile of the set — it sits close to the middle of the corpus.

What the rate means in dollars

Carry $1,200 on this card for a year without paying it down and the purchase rate alone generates roughly $295 in interest.

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

Small balances do not get a proportionally small bill — the agreement imposes a $0.50 minimum interest charge in any month where interest applies.

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.

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.

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

When a payment is late

Late payments are capped at $15 under this filing, about the 11th percentile of late fee maximums in the corpus.

The issuer's other agreements

Preferred Credit has 124 agreements indexed on this site. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 21.99% sits above 84 of the comparable ones.

The limits of this document

This page cannot tell you anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee, because the filing's disclosure table as read does not contain them.

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

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

21.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.