REVIEW: Barclaycard Ring Mastercard Credit Card

Barclaycard Ring MasterCard Credit CardThere are plenty of great credit cards offered by Barclaycard, but people with excellent credit should seriously consider this super-low APR Barclays card.

The notable Barclaycard Ring MasterCard credit card has by far the lowest across-the-board annual percentage rate of any Barclays cards we found; with a low 8% APR on standard purchases, balance transfers and cash advances.

Barclaycard Ring MasterCard Highlights

Low Interest Rate – If you plan on making regular or large purchases and don’t want to worry about paying your card off each month to avoid high interest charges, then this card is a great option for you; especially if you plan on using it for several years. You’ll enjoy a low 8% ongoing APR on balance transfers, cash advances and purchases.

No Balance Transfer Fee – You can’t beat a $0 balance transfer fee! It’s almost unheard of, actually. Typical BT fees are 3% with a minimum of $5, even with promotional offers.  This card will never charge you for balance transfers. Even if you transfer a balance more than 2 years from now, you’ll still get a low eight percent APR, and won’t pay any funds transfer fees.

Low Cash Advance Fee – Can you handle $1 per transaction? I hope so! With other cards you’ll likely pay a minimum of $10, or 3% of each transaction. In addition, most cardholder agreements charge you a higher ongoing APR on cash advance balances whereas the Barclays Ring MasterCard keeps it simple with the same low 8 percent interest rate.

$0 Annual Fee – Need I say more? If you can get approved for this card, why not take advantage of this opportunity so it’s readily available when you need it. Even use it for every day purchases to further improve your credit score and increase your credit line for that big purchase you’ve been putting off. Just keep in mind though, like with any other card, there will be a minimum monthly interest charge regardless if you’ve been using it, but it’s an extremely low $0.50 per month.

1% Foreign Transaction Fee – If you travel a lot or make regular foreign purchases, you’ll appreciate the low foreign transaction charge. With most other cards this fee ranges between 3-5%,

Giveback™ Program – You and fellow Barlcaycard Ring members can earn money for the community by providing feedback, paying your bills on time, referring others and through other ways to increase each of yours Giveback™ share. Your shares can be used towards your favorite charity, or credited towards your next bill.

Reasons to Consider a Different Card

Rewards – Not everyone needs a low interest rate. If you plan on paying off your bill each month, then a rewards card, such as the Barclaycard Rewards MasterCard will probably be better option for you. That way you can earn points for all of your purchases and use those points like cash.

Intro APRs- If you’re looking to consolidate your credit cards, transfer a large balance, or make a large purchase immediately, then might prefer a Arrival World MasterCard, because it offers a $0 introductory APR on purchases and balance transfers for 12 months.

Final Thoughts

The Barclaycard Ring MasterCard is really top-notch if you’re looking for a solid long-term credit card with one of the lowest interest rates available. You will need an excellent credit score of about 720 or greater to get approved. If for any reason you don’t receive approval initially, be sure to call them to discuss your application after you’ve been notified of your status. Several people reported having success getting approved by calling them after originally being denied.

Have you applied for, been approved, or denied for the Barclaycard Ring MasterCard credit card recently? If so, feel free to leave a summary review of your experience in the comments below. Genuine reviews – positive or negative – will help other consumers researching this product, and are greatly appreciated by the community. If you’ve been using this card for any length of time, we welcome your thoughtful feedback as well.

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Posted on May 20, 2013 by in Credit Cards,

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