Credit Card Glossary

Puzzled by credit card jargon? Browse the glossary for the definitions of common and confusing credit card terms.

Schumer Box

A standardized table or box on credit card offers and promotional materials that lists all the costs of a credit card in an easy-to-read format. The Schumer Box is required by federal law and must include the rates, fees and terms and conditions of the credit card so that consumers can compare offers. It is named for U.S. Senator Charles Schumer, who led the effort to pass the legislation requiring the box's use.