Limited time offer on Universal Savings and Reward Cards through Citi Cards and AT&T.

Has the new iPhone 4 caught your eye? How about the new KIN for all of you social networkers out there? Or, do you just need to kick that retro 1999 Nokia to the curb? Well, Citi Cards and AT&T have come up with the solution.

For a limited time only, Citi Cards and AT&T are offering a $50 bonus savings credit when you open a new AT&T Universal Savings and Rewards card, and spend at least $50 within the first three months of becoming a card member. This deal will only be available from the time you read this until August 15, 2010.

The $50 in your savings account isn't the only thing the card has to offer though. Rewards such as discounts on AT&T products and services are also built into the credit agreement. In the first year of the contract, the card will reduce your AT&T bill by 10 percent with 5 percent on-going after the first year.

By combining the rewards program and the free $50 credit, AT&T hopes to stimulate sales.

"The new offer on our AT&T Universal Savings and Rewards Card expands the savings that customers can earn, which, in many cases, can help in upgrading to a new mobile device," said Paul Galant, CEO of Citi Cards. "Our customers tend to be tech-savvy, and often lead busy on-the-go lifestyles, so we're continually looking to serve their needs, and make their lives easier. Increasing value and savings on their mobile phone solutions, which can often change as technology advances, are ways that we deliver on this commitment."

In addition to the discounts and free money available through opening a new Universal Savings and Rewards card, for every dollar charged toward non-AT&T purchases, you will receive a thank-you point. After accumulating enough of these thank-you points they can be redeemed for millions of rewards, such as gift cards to retail stores and restaurants, merchandise, and music downloads, among other things.

-A.J. Register