If you think that the AT&T Universal Rewards Card is only a reward card, think again. It's a calling card as well.

This remarkable card awards members with 5 Thank You Points per dollar of purchases made at the supermarket, gas station and drugstore. All other purchases earn the cardholder 1 Thank You Point per dollar. Furthermore, those whose application is accepted receive 10,000 bonus Thank You Points once they make their first purchase.

Furthermore, points accrued are redeemable for various products and services through the Thank You Network. A cap of 75,000 points a year works out to $13,000 for grocery, gas and drugstore purchases or $65,000 on miscellaneous purchases. The points will also expire in five years if they are not redeemed.

Compared to other calling cards, the AT&T Universal Rewards Card has rates that are somewhat pricey. Nonetheless, the card does provide up to 30 minutes of calls for free and wireless phone loss and theft insurance. The latter is obviously the more enticing benefit.

The AT&T Universal Rewards Card has a reasonable APR for purchases with no annual fees. Balance transfers within the first twelve-months are not charged any interests. However, a minimum interest charge on cash advances applies, with the minimum rate currently set at 19.99%. Thus, even if the LIBOR rates with which the interest rates are tied to drops to a 10-year low, the 19.99% still applies to cardholders.

As the AT&T Universal Rewards Card is a platinum card, platinum cardholder benefits apply. Included are services such as $1,000,000 in travel accident insurance, auto rental insurance, fraud protection and various other benefits.

Cardholders who plan to take advantage of the reward program or the interest-free balance transfer within the first twelve months of enrollment will reap the most benefits from the AT&T Universal Rewards Card.