Retail Instalment Credit Agreement/ Security Agreement

Retail Instalment Credit Agreement/ Security Agreement, as filed by Preferred Credit, carries a 17.99% purchase APR. The purchase rate sits at roughly the 28th percentile of the 4,587 agreements indexed here.

What the document actually states

The document behind this page is Preferred Credit's filed agreement for Retail Instalment Credit 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.

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

Pricing the purchase rate

Measured against every other filing on the site, 17.99% is about the 28th percentile for purchase APR; it comes in under the midpoint of the corpus.

What the rate means in dollars

Carry $4,000 on this card for a year without paying it down and the purchase rate alone generates roughly $788 in interest.

Measured against the 21.99% corpus median, the same $4,000 costs approximately $195 less per year here.

Per statement cycle that is on the order of $59.57 on $4,000, which is the number that actually shows up on a bill.

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

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

When a payment is late

The maximum late fee is $15 — roughly the 11th percentile of the late fee ceilings disclosed across this index.

Grace period and minimum charge

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

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

What the filing does not tell you

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.

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.

Against the rest of Preferred Credit's filings

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

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

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.