Pocket Change Blog

Not-so-elegant way to end AT&T Universal Cash Rewards card

September 9th, 2006

Back in May 2006, Citi discontinued the AT&T Universal Cash Rewards card that paid 5% cash back on everyday purchases (groceries, gas, pharmacies). Customers received letters and had about a month to accrue enough points to be able to cash out the rewards. If not cashed, it was forfeited.

My father found this out the hard way, when his card was refused at a gas station abroad. Since he was traveling during the summer, the letter has not reached him. He went to the official web site, but could not find any information about this closing.

Some people were offered switching to the Citi Dividend Platinum Select Card which offered the same cash back benefits

However, this card is the process of changing its 5% cash back benefit. I know people already received letters informing them about reducing the cash back from 5% to 2%. Card holders are angry about this process, especially that obtaining each card slightly lowers the credit score.

When I talked to the Citi support about the Dividend card, I was told that if I didn’t receive the letter, the card stays the same. I didn’t receive any other information. Why can’t Citi be more open about the future of existing cards?

The bottom line is that Citi, being one of the biggest credit card company, is not handling closures nor changes very gracefully.

What does AT&T think about it? We can only guess that they now have different issues to deal with in the light of the recent theft of personal information that was later used for phishing attacks.

Entry Filed under: Credit cards