AT&T Universal Card
Increased APR to 28% months after one late payment, apr on balance can never again decrease but can always increase

I have been a customer of ATT Universal Card since 2001. My APR was 9.74%. I made a late payment in November and credit card increased rate to over 24%. I believed that if I continued my good payment history that eventually they would return me to a lower rate.

On my May statement it showed my APR increased to over 28%. On the first page of the statement was printed "Good News! Due to your recent payment performance, we are lowering your Annual Percentage Rate (APR) to our standard APR. You will see the new APR on your next statement."

I called the customer service to find out why the APR had jumped up. She explained that I had been late in November and it had jumped up then. I told her that my previous month's statement listed 24 as the APR. She then said they had a term change and had sent out info the previous month. I asked her what my APR would be the next month (due to good performance). She replied 19 but explained that the lower Apr would only be good on new purchases and my balance would continue to be charged 28% until paid off.

After thinking this over, I called back later to ask another representative why they could continue raising the APR but it could never again go lower she said that it "wasn't likely to happen again" but it could happen. I expressed my opinion that 28% Apr is "ridiculous" and she said sorry, do I have any more questions?

I'm very disappointed in how ATT Universal Card is treating me as a customer. I understand the higher rate when I made my late payment but never lowering the APR again? I've never been very satisfied with this card as they also charge high rates for phone calls. I'm currently looking for a balance transfer card. I do not see how ATT can compete with other credit cards if this is their basis of operation. I ABSOLUTELY do not recommend an ATT Universal Card to anyone and I am considering cancelling my internet service through ATT.

Company: AT&T Universal Card
Country: USA
State: Florida
City: Jacksonville
Phone: 8004234343
Site: www.universalcard.com

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