• by Tanya Gazdik , September 11, 2007

Citi and AT&T are debuting two new credit cards that offer savings beyond the no-annual-fee deal.

The AT&T Universal Savings Platinum Card and the AT&T Universal Savings and Rewards Card will offer ongoing savings on purchases of AT&T products and services, as well as calling benefits and complimentary mobile phone insurance. They are the only credit cards available to customers that offer such savings on AT&T purchases, says Citigroup spokesperson Allie Reilly.

The two companies already have several other jointly branded credit cards, including two aimed at college students, she says.

Citi and AT&T will be reaching out to current customers, as well as potential new ones, via various marketing materials. Collateral materials highlighting the new AT&T Universal Cards will be in AT&T stores very soon, says Citigroup spokesperson Samuel Wang.

"We have a robust online campaign as well as direct mail and print campaigns planned," Wang says. "Also, we're pleased to be able to leverage a variety of our partner AT&T's channels to raise awareness about the new [cards]."

With the new credit cards, consumers will receive a 10% savings for the first 12 months and a 5% savings thereafter on every dollar spent on eligible AT&T products and services equal to the amount spent on their other purchases. The savings will appear as a billing statement credit during the billing period the purchases were made. Cardmembers can earn up to $350 in savings each calendar year.

Cardmembers can also earn and redeem points through Citi's ThankYou Rewards Network, a free rewards program featuring a variety of merchandise, travel and gift cards at leading retailers and restaurants.

In addition, both cards offer a 12-month, 0% APR on balance transfers, two free directory assistance calls each month, up to 30 prepaid phone minutes each month and free mobile phone insurance. Cardmembers of both cards also have a variety of benefits, including customized e-mail alerts, billing date options and automatic payments, to help avoid late payments; $0 liability on unauthorized purchases; retail purchase protection; fraud early warning with 24-hour protection from fraud and Citi Identity Theft Solutions; auto rental insurance, emergency travel assistance and travel accident insurance. Beginning Wednesday, customers of both companies will be invited to apply for the card by calling a toll-free number or by going to universalcard.com/.