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.

Positives

* 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.

Negatives

* 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 very low).
* 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
Reward Benefits
Signing Bonusnone
Rebate PercentagesEarn 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 Expirationno expiration
Method of Cash Rebatechecks 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
Other Benefits
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
Cost/Fees/Interest rates
Introductory rate0% APR for FIRST balance transfer for 12 months if transfered within 12 months on account opening
Annual Feesnone
Purchase APRPrime Rate plus 4.74%
Balance Transfer APRPrime Rate plus 4.74%
Cash Advance APRPrime Rate plus 14.99%, min 19.99%
Penalty/Default Rate APRPrime Rate plus 23.99%
Min Finance Charge$0.50
Grace Period20 days
Balance Calculation MethodAverage Daily Balance (including new purchases)
Balance Transfer Fee3%, min $5.00, max $50.00, $0 for first balance transfer
Cash Advance fee3% min $5.00
Over-the-credit-limit fee$35.00
Late Payment fee$15.00 - up to $100
$29 - $100 up to $1000
$39.00 - $1000 and greater





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