Barclaycard Ring™ Mastercard® Review
Barclaycard Ring™ Mastercard® starts off with a great 15-month 0% intro APR on both balance transfers and purchases. You do need to transfer your balance within the first 45 days to take advantage of the 0% balance transfer intro APR, but for most folks that should be easy. On top of that it is one of the few cards with absolutely no balance transfer fees, and after the 0% intro APR period is over it features a low ongoing APR of merely 13.74% Variable. Just having no balance transfer fees can save you a good chunk of change, as these fees are typically about 3% of the transfer amount. Saving you even more money is the fact that there is no annual fee and there are also no foreign transaction fees. Plus you'll get access to your free FICO® Score, which can be helpful in keeping an eye on your credit standing.
In addition, customers are able to see the actual monthly profit and loss statement for the product and vote on program changes - in effect, help to manage the entire card program. For example, a line item on the monthly statement might indicate the cost of providing members with paper statements and how much could be saved by going paperless. Then cardholders can vote on which option they want. And instead of a traditional rewards program, the card's "Giveback" program allows users to share the estimated profits based on the community's financial performance.
If you're looking for a balance transfer card with no balance transfer fees, no annual fee and no foreign transaction fees, or just want a credit card with a low ongoing 13.74% Variable APR, this is a terrific choice. You'll also be able to vote on card changes and share in community profits via the Giveback program.
- 0% Introductory APR for the first 15 months on purchases. Plus, you'll get a 0% introductory APR for 15 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 13.74%
- No balance transfer fees
- No foreign transaction fees
- Chip technology, so paying for your purchases is more secure at chip-card terminals in the U.S. and abroad
- Free online access to FICO® Credit Score
Fees and APR
- Annual Fee: $0
- Foreign Transaction Fee: None
- Purchase APR: 0% intro APR for 15 months, then 13.74% Variable.
- Balance Transfer APR: 0% intro APR for 15 months (on balance transfers made within 45 days of account opening), then 13.74% Variable.
- Balance Transfer Fee: None
|Features:||No balance transfer fees, 0% intro APR on purchases and transfers, users help manage card program and participate in profits|
|Purchase APR:||0% intro APR for 15 months, then 13.74% Variable|
|Balance Transfer APR:||0% intro APR for 15 months (on balance transfers made within 45 days of account opening), then 13.74% Variable|
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Related Forum Posts
- Does the Barclaycard Ring Mastercard charge foreign transaction fees?
Yes, the Barclaycard Ring Mastercard does charge a foreign transaction fee equal to 1% of each transaction in U.S. dollars.[...]
- How do I transfer another balance to the Barclaycard Ring Mastercard?
During the Barclaycard Ring Mastercard online application process you can easily fill out the information pertaining to balance transfers, including[...]
- Does the Barclaycard Ring Mastercard have Chip & PIN?
At this time the Barclaycard Ring Mastercard does not feature Chip & PIN technology.[...]
- Does the Barclay Ring Mastercard have a balance transfer fee?
Good news - the Barclaycard Ring Mastercard does not have a balance transfer fee. That means you can transfer your other card balances to this card[...]
- How does the Barclay Ring Mastercard profit sharing work?
The Barclay Ring Mastercard profit sharing program (called "Giveback") allows cardmembers to share the estimated profits based on the[...]