Pricing Addendum MN02 W

Pricing Addendum MN02 W, as filed by Preferred Credit, carries a 17.99% purchase APR. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

What this filing discloses

What follows is drawn entirely from Preferred Credit's CFPB filing for Pricing Addendum MN02 W. The filing runs one page.

The filing is explicit about 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.

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

The purchase rate in context

The purchase APR of 17.99% places this agreement around the 28th percentile of the set — it is on the cheaper side of the median.

What the rate means in dollars

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

Priced at the median of 21.99%, that balance would generate about $369 in a year — so this agreement comes in around $73 cheaper for the same debt.

Note the $0.50 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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.

The downside terms

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

How it sits in the issuer's own range

Preferred Credit has 124 agreements indexed on this site. Their disclosed purchase rates run from 17.99% to 21.99%, and this one at 17.99% is more expensive than 0 of them.

What is outside the disclosure

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.

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.

Where the authority sits

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

17.99% 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.