Retail Charge Agreement MA16 W

Retail Charge Agreement MA16 W, as filed by Preferred Credit, carries a 17.99% purchase APR. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

The disclosed terms

Preferred Credit submitted the terms for Retail Charge Agreement MA16 W to the CFPB's agreement database; this is what they contain. 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.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

Pricing the purchase rate

Measured against every other filing on the site, 17.99% is about the 28th percentile for purchase APR; it is on the cheaper side of the median.

The cost of carrying a balance

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $493.

A typical filing in this index would charge about $615 on that balance; this one is roughly $122 a year below it.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

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. That matches the 25-day median across the corpus almost exactly.

A minimum interest charge of $0.50 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

Default pricing

Late payments are capped at $10 under this filing, about the 6th percentile of late fee maximums in the corpus.

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 17.99%, this agreement is dearer than 0 of its siblings.

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.

Where the authority sits

The original filing, 5 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

17.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.