Credit Sale Contract / Security Agreement

On the record for Credit Sale Contract / Security Agreement: a 19% purchase APR, filed by Preferred Credit. That purchase rate ranks near the 40th percentile across this corpus of 4,587 filings.

The disclosed terms

Preferred Credit filed this agreement for Credit Sale Contract / Security Agreement with the Consumer Financial Protection Bureau. The filing runs five pages.

The filing is explicit about 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.

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

How the purchase rate compares

At 19%, the purchase APR falls at roughly the 40th percentile of the 2,280 filings indexed here, which is about typical for the filings collected here.

The cost of carrying a balance

At the disclosed purchase APR, $3,000 revolving for a full year costs something like $628 in interest.

Measured against the 21.99% corpus median, the same $3,000 costs approximately $110 less per year here.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

Penalty pricing and late fees

$30 is the disclosed ceiling on a late payment fee, placing it near the 49th percentile of the set.

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 19% sits above 76 of the comparable ones.

What you cannot learn from the filing

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.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Where the authority sits

The original filing, 5 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

19% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.