Retail Charge Agreement RI04 R

Preferred Credit's filed agreement for Retail Charge Agreement RI04 R discloses a 21.99% purchase APR. The purchase rate sits at roughly the 49th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

What follows is drawn entirely from Preferred Credit's CFPB filing for Retail Charge Agreement RI04 R. The filing runs five pages.

On the record here: a purchase rate and a grace period. It is silent on 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.

The purchase rate in context

Measured against every other filing on the site, 21.99% is about the 49th percentile for purchase APR; it is about typical for the filings collected here.

What a balance actually costs

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $615.

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.

Grace period and minimum charge

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

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

How it sits in the issuer's own range

Preferred Credit has 124 agreements indexed on this site. The issuer's own range is 17.99%–21.99%. At 21.99%, this agreement is dearer than 84 of its siblings.

What you cannot learn from the filing

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.

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.

The document itself

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

The pricing here is middling by the standards of the index — 21.99% on purchases is near enough to typical. 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.