The Collingwood Football Club has been fined for misleading fans in an advertisement.

The ad was emailed to 90,000 people and printed in a Melbourne newspaper in May.

It said supporters would receive tickets to three games and a Magpies guernsey for $20.

The Australian Competition and Consumer Commission (ACCC) says the advertisement failed to disclose that figure was for the first instalment of a six-month payment plan that totalled $120.

It issued the AFL club with two infringement notices, equalling $20,400, which the club has paid.

The ACCC chairman, Rod Sims, says advertisements that state part of the price of goods or services must also prominently show the total price.

"Consumers should know the real price of goods and services so that they are able to make informed purchasing decisions," he says.