Retail Charge Agreement / Security Agreement

Retail Charge Agreement / Security Agreement, as filed by Preferred Credit, carries a 17.99% purchase APR. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

On the face of the filing

What follows is drawn entirely from Preferred Credit's CFPB filing for Retail Charge Agreement / Security Agreement. The filing runs five pages.

Terms captured from the document include 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.

How the purchase rate compares

Measured against every other filing on the site, 17.99% is about the 28th percentile for purchase APR; it is on the cheaper side of the median.

The arithmetic of revolving

Carry $1,200 on this card for a year without paying it down and the purchase rate alone generates roughly $236 in interest.

Measured against the 21.99% corpus median, the same $1,200 costs approximately $59 less per year here.

Per statement cycle that is on the order of $17.87 on $1,200, which is the number that actually shows up on a bill.

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.

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.

What a missed payment costs

$10 is the disclosed ceiling on a late payment fee, placing it near the 6th percentile of the set.

The no-interest path

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

The issuer's other agreements

124 separate Preferred Credit filings appear in the corpus. Their disclosed purchase rates run from 17.99% to 21.99%, and this one at 17.99% is more expensive than 0 of them.

What you cannot learn from the filing

The disclosure parsed here does not state anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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.

Where the authority sits

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

17.99% 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.