What is the Schumer Box on a credit card?

Question

ClearValue Editorial Team · Accepted Answer

The Schumer Box is the standardized table of key pricing terms — APR, fees, grace period, minimum-payment formula — that federal law (Regulation Z) requires in every credit card application. Named after Senator Chuck Schumer, it lets you compare any two cards on equal terms before you apply. Issuers must present the material pricing terms in a consistent format so you can compare cards without wading through legal text. The box lists the purchase APR (shown as Prime plus a margin on variable cards), balance transfer APR, cash advance APR, penalty APR, annual fee, balance transfer fee, cash advance fee, foreign transaction fee, late payment fee, and minimum interest charge. The rows that matter most for most cardholders are the purchase APR (if you'll carry a balance), the annual fee (weigh it against expected rewards), and any intro promotional rates with their end dates. For balance transfers, read the transfer APR and the transfer fee together — a 0% promo means little if the fee eats the savings. ClearValue Cards sources fee and rate figures from each card's published Schumer Box.