Retail Charge Agreement/ Security Agreement

The Retail Charge Agreement/ Security Agreement filing from Preferred Credit sets out a 17.99% purchase APR. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

The disclosed terms

Retail Charge Agreement/ Security Agreement is one of the agreements Preferred Credit has on file with the CFPB. The filing runs five 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.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

Pricing the purchase rate

17.99% puts the purchase APR near the 28th percentile across 2,280 agreements, so it is on the cheaper side of the median.

Translating the rate into money

A $1,000 balance left untouched for twelve months accrues about $197 in interest at this purchase rate.

Measured against the 21.99% corpus median, the same $1,000 costs approximately $49 less per year here.

There is also a floor: the filing sets a minimum interest charge of $0.50, so any cycle that accrues less than that is billed at $0.50 anyway.

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.

When a payment is late

On the fee side, a late payment can cost up to $0, which is around the 2nd percentile here.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

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

The issuer's other agreements

124 separate Preferred Credit filings appear in the corpus. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 17.99% sits above 0 of the comparable ones.

What the filing does not tell you

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.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

The document itself

This summary stands or falls on the linked PDF — five pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

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.