Retail Charge Agreement/ Security Agreement

Retail Charge Agreement/ Security Agreement, as filed by Preferred Credit, carries 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/ Security Agreement. The filing runs seven 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.

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

The purchase APR of 17.99% places this agreement around the 28th percentile of the set — it undercuts the typical filing.

The arithmetic of revolving

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $197 in interest.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $49 annually against that benchmark.

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

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The downside terms

Late payments are capped at $30 under this filing, about the 49th percentile of late fee maximums in the corpus.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

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

Against the rest of Preferred Credit's filings

Preferred Credit has 124 agreements indexed on this site. The issuer's own range is 17.99%–21.99%. At 17.99%, this agreement is dearer than 0 of its siblings.

The limits of this document

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.

Reading the agreement yourself

The filed PDF is linked from this page and runs seven 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. Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.