Pricing Addendum NY20 W

The Pricing Addendum NY20 W filing from Preferred Credit sets out a 17.99% purchase APR. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

What the document actually states

Pricing Addendum NY20 W is one of the agreements Preferred Credit has on file with the CFPB. The filing runs one page.

Terms captured from the document include 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.

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

Pricing the purchase rate

17.99% puts the purchase APR near the 28th percentile across 2,280 agreements, so it sits below the middle of the distribution.

The cost of carrying a balance

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $296 in interest.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $73 annually against that benchmark.

Broken down to a single thirty-day cycle, the same balance accrues roughly $22.34.

Note the $0.70 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.

Penalty pricing and late fees

Late payments are capped at $20 under this filing, about the 17th percentile of late fee maximums in the corpus.

Paying in full

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.

The $0.70 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Against the rest of Preferred Credit's filings

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 the filing does not tell you

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.

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.

Where the authority sits

The original filing, 1 page long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The pricing here is middling by the standards of the index — 17.99% on purchases is near enough to typical. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.