The Barclaycard Ring™ Mastercard® — with its low APR and lack of fees or charges — is a truly unique offering in the world of credit cards. But what makes this card so different from other cards is that fact that Barclaycard Ring™ Mastercard® cardmembers get to share in a portion of the card’s estimated profits through their Giveback™ program.
If you often carry a credit card balance from month to month, the Barclaycard Ring™ Mastercard® might be the card you’ve been looking for.
- No Annual Fee
- Low, variable 13.99% APR
- 0% APR on purchases for the first 15 months
- 0% APR on balance transfers for the first 15 months made with 45 days of account opening
- No balance transfer fees
- Share in card profits
At a glance
Barclaycard Ring™ Mastercard®
on Barclaycard's website
- 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, 13.99%
- 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
Balance Transfer Fee
Balance Transfer Intro APR
Intro Balance Transfer Period
Barclaycard Ring™ Mastercard® deep dive
Get it: If you tend to carry a credit card balance from month to month or just really hate fees
Not only does it have 0% APR on balance transfer for 15 months, unlike many other cards, transferring balances to the Barclaycard Ring™ Mastercard® is fee free.
But the benefits don’t end there! The 0% APR extends to all new purchases made in the first 15 months. So if you have been looking for a way to fund a new project or just want to go on a shopping spree without needing to worry about paying exorbitant interest, Barclaycard has got you covered.
One of the coolest and most unique features of this card is the Barclaycard Ring™ Community, which is a forum for cardholders to shape the future of the card. Community members influence card policies and benefits by submitting and voting for their own ideas.
The community is also home to the Giveback™ program, which allows card holders to share in the financial success of the card. Individual Giveback™ benefits are determined by various aspects of account activity as well as any approved referrals generated. Card holders are then given the option to keep their benefit by getting cash back, or donating it to a charity of their choice.
Some of the benefits of the Barclaycard Ring™ Mastercard® include:
- 0% Introductory APR: You won’t have to pay any interest on both new purchases and balance transfers for 15 months. Not many cards offer an introductory 0% APR on both and when they do, they usually don’t give you 15 months
- No Annual Fee: Need we say more?
- FREE Balance Transfers: For those paying attention, this is the really important bit. While there may be cards out there that offer a longer introductory balance transfer APR, most of them also charge what can be very costly balance fees. Most other cards that offer balance transfers charge at least a 3% fee. If like the average American, you carry a $5,551 credit card debt, you would be hit with a $166.53 fee. But not with the Barclaycard Ring™ Mastercard®
- Track Your Credit: Get free online access to your FICO credit score
- Profit Share: Get your cut of the card profits through the Giveback Program that can be donated to charity or applied as cash back to your statement
- Be Heard: The future of the card is driven directly by the cardholders through the Barclaycard Ring Community. Propose and vote on various card features and policies
Skip it: If you don’t usually carry large credit card debt, or you’re looking for a card with a more traditional rewards program
The Barclaycard Ring™ Mastercard® is a unique card but it’s not for everyone. The low introductory APR on balance transfers and purchases make this card most appealing to those who carry large credit card debt.
But, there is one rather large catch inherent in this card — to be approved for the card, you need to have excellent credit. This is somewhat paradoxical. Generally speaking, the larger a person’s outstanding credit card debt, the lower the chance they have to get approved for this card.
You may also want to look at other card options if you prefer a traditional card rewards structure. As this card has a community profit share feature based on how you personally use the card and the card’s financial performance, there is no certainty on how much cash back you might be entitled to from year to year.
Consider these drawbacks of the Barclaycard Ring™ Mastercard®:
- Reward Uncertainty: The cash back rewards you can earn are not in your control, or based upon any independently verifiable criteria
- Difficult to get approved: If your credit isn’t the best, you may want to look at other options. Usually, you will need to have ‘excellent’ credit (a score between 720 and 850) to get approved for this card
If you can thread the needle of having large credit card debt while also having excellent credit, or you just hate all the fees and charges that come with most credit cards these days, the Barclaycard Ring™ Mastercard® might be the perfect solution for you.