Retail Charge Agreement UW47 W

On the record for Retail Charge Agreement UW47 W: a purchase APR of 17%–17.99%, filed by Preferred Credit. The purchase rate sits at roughly the 28th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

Preferred Credit filed this agreement for Retail Charge Agreement UW47 W with the Consumer Financial Protection Bureau. The filing runs six pages.

On the record here: a purchase rate, a late payment maximum and a grace period. No figure appears for 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.

Pricing the purchase rate

The purchase APR is quoted as a range of 17% to 17.99%. That 0.99-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Read against the index, the low end ranks around the 45th percentile and the high end around the 28th — the band straddles a wide stretch of the market this corpus describes.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

What the rate means in dollars

At the disclosed purchase APR, $4,000 revolving for a full year costs something like $788 in interest.

A typical filing in this index would charge about $983 on that balance; this one is roughly $195 a year below it.

Broken down to a single thirty-day cycle, the same balance accrues roughly $59.57.

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

What a missed payment costs

The maximum late fee is $35 — roughly the 54th percentile of the late fee ceilings disclosed across this index.

Grace period and minimum charge

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

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 17.99% sits above 0 of the comparable ones.

What you cannot learn from the filing

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.

Go to the source

The original filing, 6 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

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.