Retail Charge Agreement/ Security Agreement

The Retail Charge Agreement/ Security Agreement filing from Preferred Credit sets out a 17.99% purchase APR. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

What the document actually states

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

The filing is explicit about 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.

How the purchase rate compares

The purchase APR of 17.99% places this agreement around the 28th percentile of the set — it is on the cheaper side of the median.

The arithmetic of revolving

A $3,000 balance left untouched for twelve months accrues about $591 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $738 in a year — so this agreement comes in around $146 cheaper for the same debt.

Month to month it reads as about $44.68 per cycle on that balance.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

The downside terms

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

The grace period

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

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

Against the rest of Preferred Credit's filings

Preferred Credit has 124 agreements indexed on this site. The issuer's own range is 17.99%–21.99%. At 17.99%, this agreement is dearer than 0 of its siblings.

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.

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.

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

The pricing here is middling by the standards of the index — 17.99% on purchases is near enough to typical. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.