Review of AT&T; Universal Cash Rewards Card
The AT&T; Universal Cash Rewards Card was last reviewed on : 5th December 2004
Summary - We recommend the AT&T; Universal Cash Rewards Card for the following reasons
1. It has a simple non-tiered rebate structure at at high rebate percentage of 5% on AT&T; purchases, purchases from standalone supermarket, drugstores and gasoline stations
2. It has no annual fees and and has a very low APR of Prime Rate plus 4.74%. It also has a 12 month 0% balance transfer offer, which charges you 0% for 12 months from the date of transfer (as long as it is transfered during the12 month window).
3. You can redeem your cash rebate as long as you have earned $50.00 (no waitingfor year-end to get your checks).
However, there is a $300.00 limit to the amount of rebate you can earn, which translates intoa spending cap of $6,000 to $30,000. This cap is quite low compared to other tiered cash reabte credit cards. Hence, the high 5% rebate ratio and non-tiered structure is offset by lower spending limits. If you are an AT&T; universal member and spend anywhere between $6,000 to $30,000, carry a balance and have a good credit profile, we would recommend the AT&T; Universal Cash Rewards Card.
* The AT&T; Universal Cash Rewards Card offers a simple rebate structure at
a high rebate ratio of 5% for purchases of AT&T; products and services, standalone supermarkets, drug stores
and gas stations. You earn 1% on other purchases
* It has no annual fees
* It has a low APR of Prime Rate plus 4.75%.
* It's 0% APR for balance transfers is flexible in
the sense that you are charged 0% for 12 months from the date of transfer.
* You will also get 30 minutes of
free phone calls.
* You can also redeem your cash once you have earned at least $50.00 in cash rebates.
* Though the rebate structure for the AT&T; Universal Cash Rewards Card is high for eligible purchases, the
cap of only $300 cash rebate is low. That translate to a spending cap of between $6,000 and $30,000 (which is
* The cash rebate is only given to you if you request, so you have to monitor your statements carefully.
AT&T; Universal Cash Rewards Card Benefits
Reward Structure - The AT&T; Universal Cash Rewards Card from Citibank
has a non-tiered rebate structure that allows you to earn 5% rebate on eligible AT&T; consumer products or services purchased through
AT&T; customer service center or att.com. You will also earn 5% on purchases from standalone
supermarkets, drug stores and gas stations. You will earn 1% rebate on all other purchases. You can redeem your cash (in the form of a check) in minimum denominations
of $50.00. There is a cap of the amount of cash rebate that you can earn a year, $300.00. That means
that if you use your credit card solely for purchases that allows you to earn 5% rebate, you can only
spend up to $6,000. If you solely earn your rebates through "other purchases", then your
spending cap is $30,000. This spending cap is on the low side.
Credit Card Benefits - You will get platinum benefits like travel insurance of up to $1,000,000, wireless phone theft
and loss insurance, zero liability on unauthorized purchases, 24 hour ustomer service. You will also
get phone call benefits. You get 2 free directory assistance inquiries per month and up to 30 free minutes per month which
is good for both domestic and international calls with no need to switch calling plans.
Cost and Interest rates - There is no annual fee for this credit card. There is a 0% introductory
APR for balance transfers. You are allowed within a 12 month window to transfer balance, and the 0% APR
will apply for 12 months from the date of balance transfer. The APR is very low at Prime Rate
plus 4.74% and this credit card qualifies as a low interest credit card.
|AT&T; Universal Cash Rewards Card|
|Rebate Percentages||Earn 5% rebate for eligible purchases of AT&T; consumer products or services through customer service center or att.com|
Earn 5% rebate for purchases in standalone supermarkets, drugstores and gasoline stations
Earn 1% rebate on other purchases
Earn 1% rebate on cash advances and convenience checks amount billed at standard cash advance rate
Earn 5 reward dollars for each balance transfer of $1500 and above.
|Caps on Rewards||$300 a year in cash rebate|
|Cash Rebate Expiration||no expiration|
|Method of Cash Rebate||checks issued in increments of $50 when requested|
|Minimum Income Required is $12,000|
|Travel and Insurance Benefits|
|Automatic Travel Accident Insurance of up to $1,000,000|
|Wirelss phone theft and loss insurance|
Free online account management
Zero liability on authorized purchases
24 hour customer service
Lost wallet serviceFree convenience checks
Free additional cards
|Introductory rate||0% APR for FIRST balance transfer for 12 months if transfered within 12 months on account opening|
|Purchase APR||Prime Rate plus 4.74%|
|Balance Transfer APR||Prime Rate plus 4.74%|
|Cash Advance APR||Prime Rate plus 14.99%, min 19.99%|
|Penalty/Default Rate APR||Prime Rate plus 23.99%|
|Min Finance Charge||$0.50|
|Grace Period||20 days|
|Balance Calculation Method||Average Daily Balance (including new purchases)|
|Balance Transfer Fee||3%, min $5.00, max $50.00, $0 for first balance transfer|
|Cash Advance fee||3% min $5.00|
|Late Payment fee||$15.00 - up to $100|
$29 - $100 up to $1000
$39.00 - $1000 and greater