Schumer Boxes and Credit Card Terms

Watch this video, which explains how to read a Schumer box, which credit cards must provide to explain the terms of what they are offering you, such as the annual percentage rate (APR), which we explore in Unit 4, the interest rate, charges for balance transfers and cash advances, the grace period, annual fee, transaction fees, and penalties. U.S. legislators required credit card companies to highlight this box on their consumer agreements to prevent them from imposing