Retail Charge Agreement/ Security Agreement

The Retail Charge Agreement/ Security Agreement filing from Preferred Credit sets out a 21.99% purchase APR. Against the 4,587 filings on this site, that rate lands around the 49th percentile.

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.

The filing is explicit about a purchase rate, a late payment maximum 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.

Pricing the purchase rate

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

What a balance actually costs

The purchase rate turns a $5,000 revolving balance into roughly $1,229 of annual interest.

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%.

Broken down to a single thirty-day cycle, the same balance accrues roughly $91.16.

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.

The downside terms

$20 is the disclosed ceiling on a late payment fee, placing it near the 17th percentile of the set.

Paying in full

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

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.

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.

Inside Preferred Credit's filed lineup

124 separate Preferred Credit filings appear in the corpus. Across that lineup purchase rates span 17.99% to 21.99%; this filing's 21.99% sits above 84 of the comparable ones.

Reading the agreement yourself

The original filing, 5 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

21.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. 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.