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 agreement puts on the record

Preferred Credit submitted the terms for Retail Charge Agreement/ Security Agreement to the CFPB's agreement database; this is what they contain. The filing runs five pages.

The disclosure covers 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.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

The purchase APR against the corpus

The purchase APR of 17.99% places this agreement around the 28th percentile of the set — it sits below the middle of the distribution.

The arithmetic of revolving

The purchase rate turns a $1,500 revolving balance into roughly $296 of annual interest.

Measured against the 21.99% corpus median, the same $1,500 costs approximately $73 less per year here.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Penalty pricing and late fees

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd 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.

Where interest applies at all, the filing bills at least $1. On a tiny balance that floor can dwarf the rate itself.

Inside Preferred Credit's filed lineup

124 separate Preferred Credit filings appear in the corpus. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 17.99% sits above 0 of the comparable ones.

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.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Reading the agreement yourself

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 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.