Retail Charge Agreement/ Security Agreement

Retail Charge Agreement/ Security Agreement, as filed by Preferred Credit, carries a 21.99% purchase APR. The purchase rate sits at roughly the 49th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

This page covers the agreement Preferred Credit filed for Retail Charge Agreement/ Security Agreement. The filing runs six pages.

The disclosure covers a purchase rate, a late payment maximum and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

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

Set beside the rest of the index, the purchase APR of 21.99% lands at the 49th percentile; it is about typical for the filings collected here.

What the rate means in dollars

Carry $5,000 on this card for a year without paying it down and the purchase rate alone generates roughly $1,229 in interest.

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

Month to month it reads as about $91.16 per cycle on that balance.

Note the $0.50 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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.

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. The issuer's own range is 17.99%–21.99%. At 21.99%, this agreement is dearer than 84 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.

The document itself

The original filing, 6 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. Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.