Retail Instalment Credit Agreement/ Security Agreement Ny20-R

On the record for Retail Instalment Credit Agreement/ Security Agreement Ny20-r: a 21.99% purchase APR, filed by Preferred Credit. That purchase rate ranks near the 49th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

This page covers the agreement Preferred Credit filed for Retail Instalment Credit Agreement/ Security Agreement Ny20-r. The filing runs five pages.

The disclosure covers 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.

How the purchase rate compares

At 21.99%, the purchase APR falls at roughly the 49th percentile of the 2,280 filings indexed here, which lands near the median.

What the rate means in dollars

The purchase rate turns a $1,200 revolving balance into roughly $295 of annual interest.

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

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.

Grace period and minimum charge

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

The $0.70 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

When a payment is late

On the fee side, a late payment can cost up to $20, which is around the 17th percentile here.

Inside Preferred Credit's filed lineup

This is one of 124 Preferred Credit agreements collected here. Their disclosed purchase rates run from 17.99% to 21.99%, and this one at 21.99% is more expensive than 84 of them.

What you cannot learn from the filing

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

Everything here is a reading of the filed agreement, five pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

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