Pricing Addendum NY20 R

Pricing Addendum NY20 R, as filed by Preferred Credit, carries a 21.99% purchase APR. Against the 4,587 filings on this site, that rate lands around the 49th percentile.

The disclosed terms

This page covers the agreement Preferred Credit filed for Pricing Addendum NY20 R. 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 rate in context

At 21.99%, the purchase APR falls at roughly the 49th percentile of the 2,280 filings indexed here, which is unremarkable against the rest of the set.

Translating the rate into money

At the disclosed purchase APR, $4,000 revolving for a full year costs something like $983 in interest.

With the corpus median at 21.99%, the cost is effectively indistinguishable from the typical agreement here.

Small balances do not get a proportionally small bill — the agreement imposes a $0.70 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.

What a missed payment costs

Late payments are capped at $20 under this filing, about the 17th 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.

The $0.70 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. The issuer's own range is 17.99%–21.99%. At 21.99%, this agreement is dearer than 84 of its siblings.

What the filing does not tell you

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.

Reading the agreement yourself

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

At 21.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.