Tex. Fin. Code § 339.002 · Chapter 339. MISCELLANEOUS PROVISIONS RELATING TO INTEREST
BILLING CYCLE INTEREST LIMITATION ON OPEN-END ACCOUNT WITHOUT MERCHANT DISCOUNT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section applies to an open-end account agreement that provides for credit card transactions:
(1) in which the creditor relies on one of the ceilings authorized by Chapter 303 for the rate of interest; and
(2) in connection with which the creditor does not impose or receive a merchant discount.
(b) Interest or time price differential may not be charged for a billing cycle of an open-end account credit agreement if:
(1) the total amount of the obligor's payments during the cycle equal or exceed the balance owed under the agreement at the end of the preceding billing cycle; or
(2) an amount is not owed under the agreement at the end of the preceding billing cycle.
Notes and commentary — not statutory text
History
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.339.htm
- Text hash
- sha256 e3e6aaced6c50726310aa35fb7e394f9fe5edaf897755f8a3c6e587e37721170
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 339.002. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.