Retail Charge Agreement CA29 R

The Retail Charge Agreement CA29 R filing from Preferred Credit sets out a 21.99% purchase APR. The purchase rate sits at roughly the 49th percentile of the 4,587 agreements indexed here.

On the face of the filing

Preferred Credit filed this agreement for Retail Charge Agreement CA29 R with the Consumer Financial Protection Bureau. The filing runs six pages.

The disclosure covers 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

21.99% puts the purchase APR near the 49th percentile across 2,280 agreements, so it sits close to the middle of the corpus.

Translating the rate into money

At the disclosed purchase APR, $2,500 revolving for a full year costs something like $615 in interest.

That is almost exactly what a median-priced filing in this index would charge on the same balance, since the corpus median sits at 21.99%.

Per statement cycle that is on the order of $45.58 on $2,500, 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.

When a payment is late

$15 is the disclosed ceiling on a late payment fee, placing it near the 11th percentile of the set.

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.

Where interest applies at all, the filing bills at least $0.50. On a tiny balance that floor can dwarf the rate itself.

The issuer's other agreements

There are 124 filings from Preferred Credit in this index. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 21.99% sits above 84 of the comparable ones.

What the filing does not tell you

Absent from the captured terms: anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. The original document is the place to look for any of these.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Go to the source

The original filing, 6 pages 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

21.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. 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.