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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 the 12 month window).
3. You can redeem your cash rebate as long as you have earned $50.00 (no waiting for year-end to get your checks).
Rebate Formula - The AT&T Universal Cash Rebate Card allows the cardholder to earn 5% cash rebates on purchases at standalone supermarkets, gas stations and drugstores and AT&T products. You earn 1% rebate on "other purchases". Cardholders can earn up to $300 in annual rebates. Rebates are given once you have earned $50.00.
Fees - There is no annual fee for this card. The apr is prime rate plus 4.75%. There is a very attractive 0% apr introductory offe on balance transfers for 12 months. Unlike many cards, you are allowed 12 months to make your first transfer and the 12 months offer starts from the date of the first transfer. This is a very attractive 0% apr deal.
Verdict - We highly recommend the AT&T Universal Cash Rebate Card as it is one of the few cards that pay 5% rebates on "everyday purchase". Furthermore, the rebate formula is simple, no tiered formula whereby you have to spend a certain amount to earn maximum rabates.
Update - 7/2/2006 - AT&T has discontinued the AT&T Universal Cash Rewards Card. We would recommend the Blue Cash® from American Express , which is the only credit card today that allows you to earn 5% rebates on supermarket, gasoline and drugstore purchases..
| AT&T Universal Cash Rewards Card | | Reward Benefits | | 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 | | 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 rate | 0% APR for FIRST balance transfer for 12 months if transfered within 12 months on account opening | | Annual Fees | none | | 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 | | 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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