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VALUE DRIVES CONSUMERS TO AT&T UNIVERSAL CARD

 VALUE DRIVES CONSUMERS TO AT&T UNIVERSAL CARD
 JACKSONVILLE, Fla., July 20 /PRNewswire/ -- Consumers are


increasingly sensitive to credit card interest rates, according to recent studies, and are making their views known by trading existing cards for better offers.
 For example, tens of thousands of consumers responded to the latest offer by AT&T Universal Card Services. Launched in late March, the program allows cardholders to refinance their credit card debt at an annual percentage rate (APR) lower than the industry average and with a guarantee of no annual fee for life.
 "It's clear that consumers have defined what they want," said Paul Kahn, president, AT&T Universal Card Services. "They're saying, 'we want good value.'
 "Our success has been built on improved value, quality and customer service. Others have begun to follow us because they are beginning to get the message from consumers. But we intend to continue industry leadership in bringing our cardmembers the best value."
 The company said 14 million Americans now carry the AT&T Universal Card.
 In addition to the no-annual-fee card, the AT&T Universal Card balance transfer program includes a variable APR of 16.4 percent.
 The offer is available to consumers who transfer a total of at least $1,000 from other credit cards, on which they may currently be paying interest of as much as 19.8 percent on unpaid balances.
 "Our favorable interest rates apply to all customers' entire balance from day one," said Kahn. "Many competitors' offers only apply to their best customers, and then only after meeting volume thresholds and a year of membership."
 The AT&T Universal Card program has grown to the third largest in the industry in two years. The balance transfer offer has helped increase the company's receivables to nearly $4.8 billion.
 Consumers also are affirming value by using their cards regularly, Kahn said. Last year, for example, AT&T Universal Card cardmembers used their cards to charge more than $13.2 billion in purchases and AT&T long-distance calls -- a 200 percent increase over the previous year and the third highest amount in the industry.
 To apply for the AT&T Universal Card, consumers should call toll- free 1-800-66-APPLY, 24 hours a day.
 -0- 7/20/92
 /CONTACT: Bruce Reid, 904-443-8894 (office) or 904-285-7686 (home); or Claire Diamond, 904-443-8896 (office) or 904-367-0627 (home), both of AT&T Universal Card Services/ CO: AT&T Universal Card Services ST: Florida IN: FIN SU:


JJ-AW -- FL001 -- 0578 07/20/92 09:01 EDT
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Publication:PR Newswire
Date:Jul 20, 1992
Words:418
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