AT&T Co is really serious about its new Universal Card – a credit card designed to keep holders loyal to the AT&T long-distance network and off MCI and Sprint and calculated to win a whole lot of business away from other card issuers. It doubles as a Visa and Mastercard card and is free for life if you sign up this year and make just one purchase on it each year: US credit cards generally carry an annual fee. It gives a 10% discount on AT&T calling card rates, gives the usual 25 days’ grace from the end of the account period – 30 days on call charges! – charges a comparatively low 18.9% annual percentage rate and has several gold card-type extras – free collision damage coverage on rental cars, free extension of a manufacturer’s warranty on products purchased with the card and free purchase protection from loss, theft or breakage. It will be issued by Universal Bank, processed by Total System Services Inc, both subsidiaries of Synovus Financial Corp; all are in Columbus, Georgia.
