Barclaycard Ring™ Mastercard® Barclaycard Ring™ Mastercard<sup>®</sup>
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Barclaycard Ring™ Mastercard® Review

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Bottom Line:
No balance transfer fee and low ongoing APR; includes a unique profit sharing program

Full Review:
Looking for a card that not only has no balance transfer fees, but also lets its cardholders influence profit or loss decisions and participate in a type of profit sharing? If so, the Barclaycard Ring™ Mastercard® is the card for you. Before we dig into the details, you should know that one caveat is that the card requires excellent credit, typically considered to be a score of 750 or above. If you have less-than-perfect credit and still want a balance transfer card, take a look at our top-rated Amex EveryDay Credit Card from American Express, which is available to those with good credit (usually thought to be a score around the 700's) or better.

Barclaycard Ring™ Mastercard® is one of the few cards with absolutely no balance transfer fees, and it features a low ongoing APR of 10.49% Variable. The best part is that you can move your balances to this card whenever you'd like - you don't need to do it within a certain time frame. Just having no balance transfer fees can save you a good chunk of change, as these fees are typically 3% to 5% of the transfer amount. It is important to note that this card does not have a 0% intro APR period, so after you transfer your balances you'll start paying interest on them right away. However, the Barclaycard Ring™ Mastercard® does have a low ongoing APR of 10.49% Variable, which is likely to be lower than the interest you're currently paying. Saving you even more money is the fact that there is no annual fee, along with no foreign transaction fees, an ideal feature for world travelers. 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 Barclaycard Ring™ Mastercard®'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 10.49% Variable APR, the Barclaycard Ring™ Mastercard® is a terrific choice. You'll also be able to vote on card changes and share in community profits via the Giveback program.

Highlights from Barclaycard
  • A low, variable APR on purchases, balance transfers and cash advances
  • No annual fee
  • 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: 10.49% Variable.
  • Balance Transfer APR: 10.49% Variable.
  • Balance Transfer Fee: None

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Card Details

Features:No balance transfer fees, users help manage card program and participate in profits
Purchase APR:10.49% Variable
Balance Transfer APR:10.49% Variable
Annual Fee:$0
Credit Needed:Excellent

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