AT&T to offer debt defectors a no-fee card

Article Abstract:

AT and T is prepared to begin a campaign prompting holders of their new credit card to switch outstanding balances from existing bank cards. The company, now the country's third-largest credit-card issuer, behind Citicorp and Chase Manhattan, is expected to announce that it is offering a credit card that would charge no annual fee for life. The catch is that to qualify for the free card, which would include a low interest rate of 16.4 percent, customers have to transfer at least $1,000 in balance owed on other cards to the AT and T card. Users who apply and are approved will be given AT and T checks to be used to pay off the debt on the other cards. The move is designed to steal market share from competitors. The company is gambling that revenue from interest earned on higher card debt will more than make up for revenue lost on annual fees. There are drawbacks. A smart user could transfer the card debt to the AT and T card and pay it off all at once.

Prices and rates, Credit Agencies

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American Express, AT&T will offer joint charge card

Article Abstract:

American Express Co and AT&T are working together to offer small businesses a new credit card that allows small business employees to charge telephone calls and other purchases on an American Express corporate card. The program is called the CorporateLink program and is the first telecommunications and charge account service aimed specifically at the small business sector. The program begins in April 1992 and will be available to all American Express clients. American Express found that small businesses would like to consolidate their expenses into one monthly statement. The credit card helps keep track of employee calls and offers special discounts. Users who spend more than $30 per quarter on the calling card receive ten percent savings on long-distance charges.

Security brokers and dealers, Foreign trade & international banks, Finance, Marketing, Telephone companies, Long distance telephone services, American Express Co., AXP, Long-distance telephone service, Charge Account, Telephone Company, Marketing Strategy, Marketing Agreements

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