Barclaycard Ring MasterCard – Review

Information verified correct on January 21st, 2017

A platinum credit card that doesn’t charge any annual fees or foreign transaction fees

The Barclaycard Ring Platinum MasterCard is a low rate credit card that charges the same low rate on purchases, cash advances and balance transfers. Cardholders don’t have to pay any ongoing annual fees, and when they use their cards overseas they don’t have to pay any foreign transaction fees.

Through the Giveback program, a profit sharing feature, cardholders stand to receive rewards from time to time.

Product NameBarclaycard Ring Platinum MasterCard
Balance Transfer Rate (not intro)8.5%
APR for Purchases ( Purchase Rate )8.5% * Variable
Annual fee$0 p.a.
Cash Advance Rate8.5% * Variable
Card TypeMasterCard
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 23 days
Returned Payment Fee$26
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value
Minimum Interest$0.50
Minimum Age18 years of age
Annual fee$0 p.a.
Returned Payment Fee$26
Late Payment Fee$26
Cash Advance Fee$3 for each cash advance
Overseas Cash Advance Fee$3 for each cash advance
Overseas Emergency Replacement$0
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$0
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value

Barclaycard Ring MasterCard Review

If you’re looking for a no-frills low rate card, this offering by Barclaycard could work well for you. This card charges a low ongoing annual percentage rate (APR), and what helps is that this single rate applies on all transactions. Cardholders don’t have to pay any annual fees, which can lead to further savings. This card is also suitable for people who use their credit cards overseas, because they don’t have to pay any foreign transaction fees. You can avoid paying interest on purchases if you pay your account’s closing balance in full each month.

Benefits of the Barclaycard Ring MasterCard

Getting the Barclaycard Ring MasterCard comes with multiple benefits, and here’s what you can look forward to as a cardholder:

  • Low APR. This platinum credit card charges a standard APR of 8.5% that applies on purchases, balance transfers and cash advances alike. This low APR can lead to noticeable savings in the long run.
  • Balance transfers. If you have credit cards with outstanding balances that attract high interest, you can consider transferring the balances to this card and save in the form of interest. What also helps is that you don’t have to pay any balance transfer fee. Bear in mind that there is no guarantee of your balance transfer request’s approval.
  • No foreign transaction fees. Using this card when you’re travelling overseas, or when you shop through international websites, can lead to savings. This is simply because you don’t have to pay any foreign transaction fees.
  • Complimentary FICO Credit Score. If you wish to find out your FICO score you can access it for free online, at any time. They’ll also send alerts when they learn that your score has changed.

Features of the Barclaycard Ring MasterCard

In terms of features, here’s what you can expect from the Barclaycard Ring MasterCard:

  • Annual fee. This MasterCard credit card does not charge an ongoing annual fee.
  • Low APR. A standard interest rate of 8.5% * Variable applies on all transactions made using this card. This variable rate is subject to change given the market’s prime rate.
  • Balance transfer. You can use this card to transfer balances from other cards, and the same low rate of 8.5% p.a. applies on transferred balances. Balance transfers don’t attract any fees.
  • Foreign transaction fees. You don’t have to pay any foreign transaction fees when you use this platinum card overseas. However, you may have to pay ATM fees and currency conversion fees.
  • Interest-free days. The due date of your account would be at least 23 days after each billing cycle’s end. If you pay the account’s closing balance in full by the due date you don’t have to pay any interest on purchases.
  • Cash advance fee. A cash advance fee of $3 for each cash advance. Withdrawing money from ATMs counts as cash advances and so do instances of using your card to purchase foreign currency, traveler’s checks, money orders, gambling chips and lottery tickets.
  • Late and returned payment fees. You may have to pay up to $26 for late and returned payments depending on the state of your residence.
  • Giveback program. The Giveback program is a profit sharing initiative where cardholders can earn rewards periodically. This online program does not require you to log in to collect your reward.
  • Vote on features. All cardholders get to be a part of the Barclaycard Ring community, through which you can vote on features you’d like to see in the future.
  • Card security. This card comes with an embedded microchip that offers more protection against fraud when compared to cards that rely only on magnetic strips.

Back to top

How to apply for the Barclaycard Ring MasterCard

Applying for this card is easy. But before you do, make sure you meet the following eligibility criteria.

Eligibility criteria:

  • You’re at least 18 years old
  • You’re a permanent resident of the US
  • You have an excellent credit rating

Completing the application successfully requires that you part with different kinds of information, so prepare to provide the following documents.

Required documents:

  • Your name, residential status, residential address and time spent at current address
  • Your phone number and email address
  • Your occupation and details about your income
  • Your date of birth, social security number and mother’s maiden name
  • For balance transfers, relevant credit card numbers along with corresponding balance transfer amounts

Considering the Barclaycard Ring MasterCard could be a good idea if you don’t want too many features and wish to keep paying a low APR. As this isn’t the only card of its kind, make sure you compare a few before deciding.

Back to top
Was this content helpful to you? No  Yes
feedback