Interest rate

A creditor may establish the contracted interest rate for a credit card account by: (1) Documenting the acceptance of the terms and conditions that contain a stated or variable interest rate by a cardholder of the credit card account; or (2) Any billing statement generated by the credit card issuer that contains a stated or variable interest rate. Added by Act 2013, No. 1495,§ 2, eff. 8/16/2013. A creditor may establish the contracted interest rate for a credit card account by: (1) Documenting the acceptance of the terms and conditions that contain a stated or variable interest rate by a cardholder of the credit card account; or (2) Any billing statement generated by the credit card issuer that contains a stated or variable interest rate. Added by Act 2013, No. 1495,§ 2, eff. 8/16/2013.