I ordered my iPhone 4 at the end of July from AT&T Premier. The phone arrived in early August. Since Day 1 there were major proximity sensor issues, reception problems and general malcontent on my behalf. My husband who also has an iPhone 4 was not having any of these problems with his phone. I would rather have a 3g with a cracked screen & terrible battery life than one more day with the iPhone 4. Within the 30 day return window I took the phone back to my local AT&T store (we don't live near an apple store). The store said they would mail the phone back, this was on August 20. As of August 28 I had not heard anything about the status of my return so I called AT&T. The AT&T rep said that it can take up to 10 business days to process a return...I am thinking ok, I can wait 10 days for my refund. THEN she said that it could take 1-2 billing cycles for the refund the be applied to my credit card...does this sound right? AT&T is holding $300+ hostage for 30-60 days. This is hell of a cash flow strategy for AT&T...but not so good for the consumer. Has this happened to anyone else? Any recourse to suggest?