Pricing Addendum MN02 R

Preferred Credit's filed agreement for Pricing Addendum MN02 R discloses a 18% purchase APR. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

The document behind this page is Preferred Credit's filed agreement for Pricing Addendum MN02 R. The filing runs one page.

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.

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

Pricing the purchase rate

18% puts the purchase APR near the 34th percentile across 2,280 agreements, so it sits below the middle of the distribution.

Translating the rate into money

Put $4,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $789.

A typical filing in this index would charge about $983 on that balance; this one is roughly $195 a year below it.

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.

Penalty pricing and late fees

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

Grace period and minimum charge

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

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

The issuer's other agreements

Preferred Credit has 124 agreements indexed on this site. Their disclosed purchase rates run from 17.99% to 21.99%, and this one at 18% is more expensive than 53 of them.

What you cannot learn from the filing

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.

The document itself

The filed PDF is linked from this page and runs one page. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

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.