Retail Charge Agreement UN48 R

On the record for Retail Charge Agreement UN48 R: a purchase APR of 21%–21.99%, filed by Preferred Credit. Against the 4,587 filings on this site, that rate lands around the 49th percentile.

What the document actually states

Retail Charge Agreement UN48 R is one of the agreements Preferred Credit has on file with the CFPB. The filing runs seven pages.

On the record here: 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.

How the purchase rate compares

Rather than a single purchase rate, the document gives a band — 21% at the bottom, 21.99% at the top, 0.99 points wide. The agreement discloses the range without disclosing how an account is placed within it.

The floor of that band sits at about the 63rd percentile of filed purchase rates; the ceiling sits at about the 49th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

What the rate means in dollars

A $2,500 balance left untouched for twelve months accrues about $615 in interest at this purchase rate.

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%.

Month to month it reads as about $45.58 per cycle on that balance.

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.

What a missed payment costs

Late payments are capped at $15 under this filing, about the 11th percentile of late fee maximums in the corpus.

The grace period

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

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

Inside Preferred Credit's filed lineup

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

Absent from the captured terms: anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. The original document is the place to look for any of these.

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.

Go to the source

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 21.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.