Retail Charge Agreement HI21 W

The Retail Charge Agreement HI21 W filing from Preferred Credit sets out a 17.99% purchase APR. The purchase rate sits at roughly the 28th percentile of the 4,587 agreements indexed here.

On the face of the filing

What follows is drawn entirely from Preferred Credit's CFPB filing for Retail Charge Agreement HI21 W. The filing runs five pages.

On the record here: 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.

Pricing the purchase rate

Ranked against the corpus, this purchase APR — 17.99% — sits at approximately the 28th percentile and undercuts the typical filing.

The arithmetic of revolving

The purchase rate turns a $4,000 revolving balance into roughly $788 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $4,000 would cost about $983 a year. This filing saves roughly $195 annually against that benchmark.

Month to month it reads as about $59.57 per cycle on that balance.

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

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

What a missed payment costs

The maximum late fee is $35 — roughly the 54th percentile of the late fee ceilings disclosed across this index.

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.

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.

Go to the source

Everything here is a reading of the filed agreement, five pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

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.