Rate Bracket Adjustments & Market Competitive Rate Ceilings

Rate Bracket Adjustments

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 February 1, 2022February 9, 2016March 9, 2010April 13, 2004
 February 2, 2021March 3, 2015March 10, 2009March 25, 2003
 February 4, 2020February 18, 2014March 25, 2008March 12, 2002
February 19, 2025February 5, 2019February 12, 2013May 8, 2007March 13, 2001
 February 28, 2024      February 20, 2018April 10, 2012April 11, 2006March 07, 2000
February 7, 2023                     February 7, 2017March 15, 2011May 10, 2005March 09, 1999

Market Competitive Rate Ceilings

Several Texas Finance Code sections were repealed regarding the calculation and publication of the market competitive rate ceilings by the Acts of the 79th Legislature, Regular Session, 2005. (HB 955).

§345.151. Affidavit of Rate Charged by Creditor in Other State for Determining Ceiling;
§345.152. Determination of Ceiling; and
§345.154. Implementation of Ceiling.

The rate ceilings addressed in Texas Finance Code, §303.009(d) provide the ceiling for credit card transactions.

§303.009. Maximum and Minimum Weekly, Monthly, Quarterly, or Annualized Ceiling.

(d) For an open-end account credit agreement that provides for credit card transactions on which a merchant discount is not imposed or received by the creditor, the ceiling is 21 percent a year.

The maximum rate has been 21% since October 1, 1999.