The Preferred Rewards is a personal credit card from Preferred Rewards. Application typically pulls a hard report from Experian. The annual fee is No Annual Fee. The ongoing APR is 17.24% to 27.24% variable APR. after a 0% Introductory APR for one year on purchases and balance transfers! introductory rate for 12 months. Rewards: 3x points on quarterly bonus categories and charitable contributions. Cash back: 1 point per dollar spent on all other purchases.. Typical credit limit: Up to $50,000.