Pricing Addendum MA17 R

The Pricing Addendum MA17 R filing from Preferred Credit sets out a 18% purchase APR. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

What the agreement puts on the record

Preferred Credit filed this agreement for Pricing Addendum MA17 R with the Consumer Financial Protection Bureau. The filing runs one page.

The disclosure covers 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.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

The purchase APR against the corpus

At 18%, the purchase APR falls at roughly the 34th percentile of the 2,280 filings indexed here, which is on the cheaper side of the median.

What a balance actually costs

Put $1,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $296.

Measured against the 21.99% corpus median, the same $1,500 costs approximately $73 less per year here.

Per statement cycle that is on the order of $22.35 on $1,500, 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.

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.

Penalty pricing and late fees

The maximum late fee is $10 — roughly the 6th percentile of the late fee ceilings disclosed across this index.

The grace period

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

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

The limits of this document

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.

Against the rest of Preferred Credit's filings

This is one of 124 Preferred Credit agreements collected here. The issuer's own range is 17.99%–21.99%. At 18%, this agreement is dearer than 53 of its siblings.

Reading the agreement yourself

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

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical. 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.