REFERENCE TITLE: credit cards; interest rate; requirements

State of Arizona

Senate

Fifty-seventh Legislature

Second Regular Session

2026

SB 1623

Introduced by

Senator Gowan

AN ACT

amending title 44, chapter 35, arizona revised statutes, by adding article 2; relating to credit card agreements.

(TEXT OF BILL BEGINS ON NEXT PAGE)

Be it enacted by the Legislature of the State of Arizona:

Section 1. Title 44, chapter 35, Arizona Revised Statutes, is amended by adding article 2, to read:

ARTICLE 2. INTEREST RATES

START_STATUTE44-7821. Credit card interest rates; late fees; surcharge prohibited

A. A credit card company that does business in this state may charge an interest rate of not more than fifteen percent for all credit card purchases charged to a credit card account.  A credit card company may charge a late fee of not more than $10 regardless of the credit card balance.

B. The fifteen percent interest rate applies to the previous twelve months of interest that has accrued and been charged to the credit card.

C. A credit card merchant may not add a surcharge to any charge that is made using a credit card.

D. The attorney general may investigate and take appropriate action pursuant to chapter 10, article 7 of this title. END_STATUTE

Sec. 2. Retroactivity

This act applies retroactively to from and after twelve months before the effective date of this act.

Sec. 3. Emergency

This act is an emergency measure that is necessary to preserve the public peace, health or safety and is operative immediately as provided by law.