Warning: do not take advantage of AT&T's zero interest prom
We have had the AT&T credit card for 30+ years. We recently took advantage of the 0% interest option. We have perfect credit and decided to payoff a $50K HELOC knowing interest rates were increasing. We will pay the AT&T zero percent balance off at the end of the promo term (July 2023). I paid the minimum amount due and the very next day - AT&T then withdrew $49K from our checking account. My bank called and we rejected the request and I called AT&T. A few days later - AT&T did it again - and again and again - it's been going on for 3 weeks. I was told this week - there was nothing they could do - it needed to attempt to collect the full balance. So now I have close to 10 bounced check fees at my bank - and - interest will probably start accruing at a 25%+ rate. This idea completely backfired - is costing us money and more importantly - I'm concerned for our historically excellent credit. Horrible, stressful and unbelievable experience.
Maxthemanx
Sarasota, FL