Retail Instalment Credit Agreement/ Security Agreement

On the record for Retail Instalment Credit Agreement/ Security Agreement: a 21.99% purchase APR, filed by Preferred Credit. That purchase rate ranks near the 49th percentile across this corpus of 4,587 filings.

The disclosed terms

What follows is drawn entirely from Preferred Credit's CFPB filing for Retail Instalment Credit Agreement/ Security Agreement. The filing runs five pages.

On the record here: 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.

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

How the purchase rate compares

Measured against every other filing on the site, 21.99% is about the 49th percentile for purchase APR; it lands near the median.

The cost of carrying a balance

A $4,000 balance left untouched for twelve months accrues about $983 in interest at this purchase rate.

That is almost exactly what a median-priced filing in this index would charge on the same balance, since the corpus median sits at 21.99%.

Per statement cycle that is on the order of $72.93 on $4,000, which is the number that actually shows up on a bill.

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.

What a missed payment costs

$20 is the disclosed ceiling on a late payment fee, placing it near the 17th percentile of the set.

Paying in full

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

A minimum interest charge of $0.70 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

How it sits in the issuer's own range

124 separate Preferred Credit filings appear in the corpus. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 21.99% sits above 84 of the comparable ones.

What the filing does not tell you

Absent from the captured terms: anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. The original document is the place to look for any of these.

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.

The document itself

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. Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.