Retail Charge Agreement RI05 R

The Retail Charge Agreement RI05 R filing from Preferred Credit sets out a 21.99% purchase APR. That purchase rate ranks near the 49th percentile across this corpus of 4,587 filings.

What this filing discloses

This page covers the agreement Preferred Credit filed for Retail Charge Agreement RI05 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.

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

The purchase APR against the corpus

Ranked against the corpus, this purchase APR — 21.99% — sits at approximately the 49th percentile and is about typical for the filings collected here.

The arithmetic of revolving

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $369 in interest.

The corpus median of 21.99% produces practically the same bill, so on carrying cost this card is unremarkable.

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

The $0.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Against the rest of Preferred Credit's filings

This is one of 124 Preferred Credit agreements collected here. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 21.99% sits above 84 of the comparable ones.

What you cannot learn from the filing

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 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. Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.