A Schumer box is the standardized table in United States credit card applications and solicitations that summarizes a card's rates and fees in a uniform format.
The box is named for Chuck Schumer, then a New York congressman, who sponsored the Fair Credit and Charge Card Disclosure Act. The law was enacted in 1988 and took effect in 1989. It requires card issuers to present key cost terms in the same layout on every offer, whether the solicitation arrives by mail or online, so consumers can compare cards from different issuers side by side.
A Schumer box discloses the annual percentage rate for purchases along with the separate APRs for balance transfers, cash advances, and penalty pricing. It also lists the grace period, the method used to calculate finance charges, and fees such as the annual fee, balance transfer and cash advance fees, and late payment, over-limit, and returned payment fees. The format governs presentation, with long-term rates in larger type, but it does not cap the rates or fees themselves.