Retail Charge Agreement MN01 W

Preferred Credit's filed agreement for Retail Charge Agreement MN01 W discloses a 17.99% purchase APR. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

What this filing discloses

What follows is drawn entirely from Preferred Credit's CFPB filing for Retail Charge Agreement MN01 W. The filing runs four pages.

The disclosure covers a purchase rate 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.

The purchase APR against the corpus

Ranked against the corpus, this purchase APR — 17.99% — sits at approximately the 28th percentile and sits below the middle of the distribution.

What a balance actually costs

Put $3,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $591.

Priced at the median of 21.99%, that balance would generate about $738 in a year — so this agreement comes in around $146 cheaper for the same debt.

Small balances do not get a proportionally small bill — the agreement imposes a $0.50 minimum interest charge in any month where interest applies.

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 grace period

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.

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 17.99% sits above 0 of the comparable ones.

The limits of this document

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.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Go to the source

The original filing, 4 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

At 17.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.