Colorado § 5-2-213 - General-purpose credit cards - definitions.
Full text of Colorado Colorado Revised Statutes § 5-2-213 — General-purpose credit cards - definitions., with citation guidance and answers to common questions.
§ 5-2-213. General-purpose credit cards - definitions.
(1) As used in this section:
(a) "General-purpose credit card" means any card, plate, or other single credit device that may be used from time to time to obtain consumer credit under an open-end credit plan offered by a supervised financial organization, as defined in section 5-1-301 (45), that:
(I) Is accepted by any merchant that participates in a widely accepted payment card network and is accepted upon presentation at multiple, unaffiliated merchants for goods or services;
(II) Does not charge fees, including pre-account opening fees, which exceed fifteen percent of the credit line; and
(III) Does not include an overdraft line of credit that is accessed by a debit or prepaid card or an account number.
(b) "Open-end credit plan" means consumer credit extended by a creditor under a plan in which:
(I) The creditor reasonably contemplates repeated transactions;
(II) The creditor may impose a finance charge from time to time on an outstanding unpaid balance; and
(III) The amount of credit that may be extended to the consumer during the term of the plan, up to any limit set by the creditor, is generally made available to the extent that any outstanding balance is repaid.
(2) Limitations in state law on finance charges and fees applicable to consumer credit transactions in sections 5-2-201, 5-2-202, and 5-2-203 shall not apply to general-purpose credit cards.
Source: L. 2000: Entire article R&RE, p. 1206, § 1, effective July 1. L. 2013: (1) amended, (SB 13-154), ch. 282, p. 1468, § 20, effective July 1. L. 2023: Entire section R+RE, (HB 23-1229), ch. 375, p. 2242, § 1, effective July 1, 2024.
Editor's note: This section is similar to former § 5-3-508, as it existed prior to 2000.
ANNOTATION
Law reviews. For article, "State Variations of the Uniform Consumer Credit Code: The Case for Legislative Restraint", see 48 Den. L.J. 239 (1971). For article, "Colorado Usury", see 11 Colo. Law. 2557 (1982).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 5-2-213
What does Colorado Revised Statutes § 5-2-213 cover?
Section 5-2-213 ("General-purpose credit cards - definitions.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 5-2-213?
A common citation format is "Colorado Revised Statutes § 5-2-213" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 5-2-213 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.