Thursday, May 19, 2011

Too good to be true?

I was checking my new statement for the AT&T Universal card and it occurred to me that the interest charge was low. Really low. The balance on the card is $10,027. The interest for the month was $16. What??

So I read further and it seems the interest rate is 1.990%. That's awesome! But how did it get that low? I can't figure it out. My notes show the account has a 5.99% for life. There have been no new charges on that card for years. It's just been sitting there, taking up space and money.

Now I'm worried. AT&T has no reason to give me a rock-bottom rate. I sure didn't ask for it. Is it for a limited time only? What happens if that's true and the "special" expires? Will my rate skyrocket? I sure don't want to call and ask - why stir the pot when it's good for me ... for the time being anyway.

What do you all think? I never thought I'd be worrying about an interest rate that is too low.

Sarah

8 comments:

  1. personally, i would call the company. if it was a glitch, and they catch it, you may wind up paying (literally) for the error. when i had credit card debt, my company would sometimes give me a "payment holiday". once, i took advantage of it, and the next month i had to pay the previous month (which was the "holiday")as well as the current month.

    when it comes to credit cards, if it seems too good to be true, it probably is.

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  2. I'd look into it too. Could work out to your benefit (hopefully). I'd be too scared to leave it and have something go really wrong and them unwilling to fix it. You know how those CC companies can be. I agree - if it seems to good to be true, it probably is. But we can always hope! :)

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  3. I would definately give them a call. You dont want to end up having to pay for an error they made. Good luck! Hopefully it works in your advantage! =)

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  4. Wow, I would check it out. However I had a card lowered from 12.99 to 6.49 without asking. So check it out. The devil you do know is better than.....

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  5. Congrats!!!! That is awesome! Now only if Capital One would follow suit!

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  6. Don't worry about it, just let it be for now. That's how I would handle it until something changes again but I've never had CC debt so maybe the others are right and you should look into it. I still think you should leave it though. They can't over charge you for their mistake, they can only correct it.

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  7. Definitely call. Like others have said, if it seems too good to be true it probably is. If it's a mistake then you only have a month to catch up on, and if it isn't a mistake then appreciate the break!

    K xx

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  8. Wow, that's wonderful news! I guess I'd kinda sit still and wait to see what happens next month...

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