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  2. The Schumer Box owes its name to Senator Charles Schumer, who, at the time, was a Congressman from New York. This table was introduced as a result of the 1968 Truth in Lending Act, legislation aimed at safeguarding consumers in their transactions with lenders and creditors.
    www.supermoney.com/encyclopedia/schumer-box
    www.supermoney.com/encyclopedia/schumer-box
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  3. People also ask
    What is a Schumer box?A Schumer box is a legally required cheat sheet for credit cards that breaks down two main aspects of any card: interest rates and fees. Here's how to read it and where to find it. Many or all of the products featured here are from our partners who compensate us.
    What are the benefits and disadvantages of a Schumer box?Here is a list of the benefits and drawbacks to consider. Transparency: The Schumer Box ensures that credit card terms and fees are presented in a clear and standardized format, allowing consumers to make informed choices.
    What is a Schumer box on a credit card statement?The Schumer box discloses the (high) cost of your account's penalty APR if you ever trigger it. If a credit card company offers a grace period, the Schumer box explains how many days you have between the statement closing date and your due date to pay off your statement balance to avoid interest charges.
    Where is the Schumer box on a card?In general, the Schumer Box will be prominently featured near the top of the first page or sometimes on the second page of the cardmember agreement. The Schumer Box is named for then New York Congressman and later U.S. Senator Charles Schumer, who mandated it in legislation he co-sponsored in 1988.
     
  4. What Is a Schumer Box and How Do You Read It?

     
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