Pricing Addendum EE MN04 R

On the record for Pricing Addendum EE MN04 R: a 18% purchase APR, filed by Preferred Credit. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

What the document actually states

What follows is drawn entirely from Preferred Credit's CFPB filing for Pricing Addendum EE MN04 R. The filing runs one page.

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.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

Pricing the purchase rate

Set beside the rest of the index, the purchase APR of 18% lands at the 34th percentile; it undercuts the typical filing.

What the rate means in dollars

At the disclosed purchase APR, $2,000 revolving for a full year costs something like $394 in interest.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $97 annually against that benchmark.

Note the $0.50 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.

When a payment is late

Late payments are capped at $8.56 under this filing, about the 5th percentile of late fee maximums in the corpus.

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.

A minimum interest charge of $0.50 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

Inside Preferred Credit's filed lineup

There are 124 filings from Preferred Credit in this index. The issuer's own range is 17.99%–21.99%. At 18%, this agreement is dearer than 53 of its siblings.

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.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

The document itself

Everything here is a reading of the filed agreement, one page of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

18% 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.