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CITIZENS BANK ANNOUNCES LOWERED RATE ON NO ANNUAL FEE VISA

 CITIZENS BANK ANNOUNCES LOWERED RATE ON NO ANNUAL FEE VISA
 PROVIDENCE. R.I., Sept. 8 /PRNewswire/ -- Citizens Bank announced plans to lower the rate on their "No Annual Fee Visa" from 14.5 percent to 11.5 percent, effective Sept. 30, 1992 through March 31, 1993.
 This special rate offer applies to all purchases and cash advances made during this six-month period and will continue to apply until the balance on those purchases is paid in full. Purchases made prior to Sept. 30 will continue to be charged at the 14.5 percent rate.
 The Citizens "No Annual Fee Visa" was introduced on May 28 and is designed to meet the needs of consumers who carry a balance on their credit cards. The "No Annual Fee Visa" provides these customers with a below-market credit card rate and eliminates the annual fee associated with most credit cards.
 "As credit card interest rates continue to decline, Citizens is offering new and existing customers who carry a balance on their credit cards, the opportunity to take advantage of a low interest rate during the next six months. This will be especially advantageous during the holiday season, the heaviest purchasing time of the year for credit card customers," said James E. Melia, Jr., senior vice president of Citizens' Retail Credit Department.
 The Citizens "No Annual Fee Visa" offers Write-a-Loan checks, overdraft protection and ATM banking access to any Citizens Express Teller, Yankee 24, CIRRUS or Visa Network automated teller machine.
 The rate of the Citizens Visa Classic Card will remain at 15.9 percent fixed annual percentage rate. The annual fee for a Citizens Visa Classic is $20.
 The interest rate on the Citizens Visa Gold card is linked to the prime rate and is currently at 13.0 percent with an annual fee of $35, representing a very competitive rate for this region.
 More information and applications for Citizens "No Annual Fee Visa" and other credit card offerings are available at all 49 Citizens branch offices or by calling the Citizens Bank Customer Service Center at 401-455-5000 or 1-800-922-9999 weekdays from 8 a.m. to 5 p.m.
 -0- 9/8/92
 /CONTACT: James E. Melia, Jr., senior vice president, 401-456-7658, or Robert J. Oberg, public relations officer, 401-456-7375, both of Citizens Bank/ CO: Citizens Bank ST: Rhode Island IN: FIN SU:


CH -- NE009 -- 6811 09/08/92 08:16 EDT
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Publication:PR Newswire
Date:Sep 8, 1992
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