{"data":{"id":"us-tx/tex.-finance-code-339.002","jurisdiction":"us-tx","citation":"Tex. Finance Code § 339.002","heading":"BILLING CYCLE INTEREST LIMITATION ON OPEN-END ACCOUNT WITHOUT MERCHANT DISCOUNT.","body":"(a) This section applies to an open-end account agreement that provides for credit card transactions:\n(1) in which the creditor relies on one of the ceilings authorized by Chapter 303 for the rate of interest; and\n(2) in connection with which the creditor does not impose or receive a merchant discount.\n(b) Interest or time price differential may not be charged for a billing cycle of an open-end account credit agreement if:\n(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\n(2) an amount is not owed under the agreement at the end of the preceding billing cycle.\nAmended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.","path":["FINANCE CODE","TITLE 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS","SUBTITLE A. INTEREST","CHAPTER 339. MISCELLANEOUS PROVISIONS RELATING TO INTEREST"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.339.htm#339.002","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"a1994cf81d08962c1f52ad1b27530a8612d8e949a6b7164331f83ea9f5211f05","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-308.003","next":"us-tx/tex.-finance-code-339.003"},"notice":"GroundRules: Original legal text. Not legal advice."}