Citizens Summit Reserve Private Bank Cardholder Agreement June

Citizens Summit Reserve Private Bank 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. The purchase rate sits at roughly the 70th percentile of the 4,587 agreements indexed here.

What the document actually states

Citizens Bank submitted the terms for Citizens Summit Reserve Private Bank Cardholder Agreement June 2025 to the CFPB's agreement database; this is what they contain. The filing runs 19 pages.

The disclosure covers a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. A balance transfer rate and a penalty rate are not stated.

The introductory rate

An introductory rate of 20.24% appears without a disclosed duration.

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.

The purchase rate in context

Purchases price between 20.24% and 29.24% under this filing. The 9-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Read against the index, the low end ranks around the 62nd percentile and the high end around the 70th — the band straddles a wide stretch of the market this corpus describes.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

What a balance actually costs

The purchase rate turns a $5,000 revolving balance into roughly $1,697 of annual interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $1,229. The gap — roughly $468 a year on $5,000 — is the price of this particular filing over a typical one.

Per statement cycle that is on the order of $121.57 on $5,000, which is the number that actually shows up on a bill.

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

Holding the card costs $295 a year before any transaction takes place — about the 98th percentile among agreements in this index that state a fee.

Taking cash against the card means 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. Transferring $3,000 would cost roughly $150 at the door.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

When a payment is late

On the fee side, a late payment can cost up to $40, which is around the 72nd percentile here.

The grace period

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

Where interest applies at all, the filing bills at least $1.50. On a tiny balance that floor can dwarf the rate itself.

Against the rest of Citizens Bank's filings

This is one of 5 Citizens Bank agreements collected here.

The limits of this document

The disclosure parsed here does not state penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Go to the source

Everything here is a reading of the filed agreement, 19 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

29.24% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. The $295 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves.