A Schumer Box is a legally required part of a credit card agreement with information, in at least 18-point font, on everything from an account's interest rates to its annual fees and introductory offer periods. But according to a report from Forbes, all that information can still be confusing.
For example, some agreements will display that a card's APR for purchases is a certain number, followed by an asterisk, the report said. Typically, this is because the card's interest rate varies in relation to the nationwide prime rate, though that's only explained in the fine print. In addition, all aspects of cards' rewards programs, which aren't covered by the Credit Card Accountability, Responsibility and Disclosure Act, aren't explained at all.
Despite the introduction of the Schumer Box, consumers should always carefully study every credit card agreement they sign so that they know exactly what happens with their accounts.