Citizens Summit Reserve Cardholder Agreement June

Citizens Summit Reserve Cardholder Agreement June 2025, as filed by Citizens Bank, carries a purchase APR of 20.24%–29.24%, a $295 annual fee and a 20.24% introductory rate. That purchase rate ranks near the 70th percentile across this corpus of 4,587 filings.

The disclosed terms

Citizens Bank filed this agreement for Citizens Summit Reserve Cardholder Agreement June 2025 with the Consumer Financial Protection Bureau. The filing runs 19 pages.

Terms captured from the document include a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. No figure appears for a balance transfer rate and a penalty rate.

Introductory pricing

The filing discloses an introductory rate of 20.24% but no term for it.

Among the 763 filings here that disclose an introductory rate, 20.24% sits at about the 98th percentile.

The go-to rate is 29.24%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $339 a year on $1,000.

Where the purchase APR sits

Rather than a single purchase rate, the document gives a band — 20.24% at the bottom, 29.24% at the top, 9 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Those two numbers occupy very different places in the corpus: roughly the 62nd percentile at the bottom and the 70th at the top.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

The arithmetic of revolving

Put $1,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $339.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $246. The gap — roughly $94 a year on $1,000 — is the price of this particular filing over a typical one.

Small balances do not get a proportionally small bill — the agreement imposes a $1.50 minimum interest charge in any month where interest applies.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

The fee structure

$295 a year is the disclosed annual fee, which ranks near the 98th percentile of the fees filed across this corpus.

Cash advances carry a cash advance APR of 29.24%.

A balance transfer costs $10 or 5% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. Shifting $2,000 across attracts something like $100 in fees on day one.

The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

The $1.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

What a missed payment costs

The maximum late fee is $40 — roughly the 72nd percentile of the late fee ceilings disclosed across this index.

Inside Citizens Bank's filed lineup

There are 5 filings from Citizens Bank in this index.

Its $295 annual fee is higher than 3 of the 4 sibling filings that state one.

What you cannot learn from the filing

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Go to the source

The filed PDF is linked from this page and runs 19 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

29.24% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Against that sits the $295 annual fee, which is unavoidable once the account is open.