Retail Charge Agreement CT17 R

Preferred Credit's filed agreement for Retail Charge Agreement CT17 R discloses a 18% purchase APR. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

What this filing discloses

Preferred Credit filed this agreement for Retail Charge Agreement CT17 R with the Consumer Financial Protection Bureau. The filing runs five pages.

The filing is explicit about a purchase rate, a late payment maximum and a grace period. No figure appears for 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.

How the purchase rate compares

At 18%, the purchase APR falls at roughly the 34th percentile of the 2,280 filings indexed here, which is on the cheaper side of the median.

The arithmetic of revolving

At the disclosed purchase APR, $5,000 revolving for a full year costs something like $986 in interest.

The corpus median purchase rate is 21.99%, which on the same $5,000 would cost about $1,229 a year. This filing saves roughly $244 annually against that benchmark.

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.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

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

The downside terms

The maximum late fee is $10 — roughly the 6th percentile of the late fee ceilings disclosed across this index.

How it sits in the issuer's own range

This is one of 124 Preferred Credit agreements collected here. The issuer's own range is 17.99%–21.99%. At 18%, this agreement is dearer than 53 of its siblings.

What you cannot learn from the filing

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.

Where the authority sits

The filed PDF is linked from this page and runs five pages. 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.