Retail Charge Agreement RI04 W

The Retail Charge Agreement RI04 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

This page covers the agreement Preferred Credit filed for Retail Charge Agreement RI04 W. The filing runs five 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.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

The purchase rate in context

At 17.99%, the purchase APR falls at roughly the 28th percentile of the 2,280 filings indexed here, which comes in under the midpoint of the corpus.

The cost of carrying a balance

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.

Note the $0.50 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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.

Paying in full

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

Inside Preferred Credit's filed lineup

This is one of 124 Preferred Credit agreements collected here. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 17.99% sits above 0 of the comparable ones.

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.

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.

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

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. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.