Which of the Following is Not Included in a Schumer Box?
In a Schumer Box, which provides credit card details, the items listed include APR, minimum interest charge, and fees, but not credit score.
by Sai V
Updated Oct 26, 2023
Article continues below advertisement
Which of the Following is Not Included in a Schumer Box?
A) APR
B) Minimum Interest charge
C) Fees
D) Credit score
The Item Not Included in a Schumer Box is D) Credit Score
The Schumer Box, a mandated summary of a credit card's financial details, does not include individual credit scores (Option D). This omission is purposeful, as the Schumer Box primarily focuses on providing consumers with clear and concise information regarding the costs and terms associated with the credit card. It includes vital data such as Annual Percentage Rates (APRs), fees for balance transfers, cash advances, late payments, and penalty APRs. By excluding credit scores, the Schumer Box emphasizes transparency in essential financial information, ensuring consumers can make informed decisions about their credit card choices without delving into complex credit scoring systems.
Related Articles
Quiz Questions On Insurance and Risk Management - 3
357 days ago
Quiz Questions on Credit Management and Awareness
358 days ago
Disclaimer : The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.