Barclaycard Ring Mastercard review August 2018 | finder.com

Review: Barclaycard Ring™ Mastercard® – August 2018

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

The Barclaycard Ring™ Mastercard® charges the same low rate on purchases, cash advances and balance transfers. Cardholders won’t pay ongoing annual fees or even foreign transaction fees when you use your card overseas.

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

Product NameBarclaycard Ring™ Mastercard®
Card TypeMastercard
Annual Fee$0
APR (Annual Percentage Rate) for Purchases13.74% variable
Introductory Purchase APR0% for the first 12 months (then 13.74% variable)
Introductory Balance Transfer APR 0% for the first 12 billing cycles (then 13.74% variable)
Balance Transfer Fee5%
Cash Advance Rate13.74% variable
Cash Advance Fee$3
Foreign Transaction FeeNone
Interest Free PeriodUp to 23 days
Minimum Interest$0.5
Late Payment Fee$27
Returned Payment Fee$27
Additional Cardholder Fee$0
Minimum Age18 years of age

Barclaycard Ring™ Mastercard® Review

If you’re looking for a no-frills low rate card, this Barclaycard is worth considering. It charges a low ongoing APR that applies on all transactions, including balance transfers. And you won’t pay ongoing annual fees, which can lead to further savings.

If you travel overseas, this card also offers no foreign transaction fees. Also, you can avoid interest on purchases by paying your account’s closing balance in full each month.

The perks

Getting the Barclaycard Ring™ Mastercard® comes with multiple benefits. Here’s what you can look forward to as a cardholder:

  • No annual fee.
    Reap the rewards of Ring without paying a fee each year.
  • Low APR.
    This platinum credit card charges a variable APR of 13.74%, which applies to purchases, balance transfers and cash advances alike. This low APR can lead to noticeable savings in the long run.
  • No-fee balance transfers.
    If you’re paying higher interest on outstanding balances with other cards, consider transferring those balances to Ring. Plus, pay no fee for your balance transfers, which is almost unheard of for similar cards.
  • 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.
  • Free FICO Credit Score.
    Monitor your score at any time online for free. And sign up for alerts to learn when your score changes.

Compare Barclaycard credit cards

The nuts and bolts

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.
  • Foreign transaction fees.
    You won’t pay transaction fees when you use this platinum card overseas. However, you may pay ATM fees and currency conversion fees.
  • Interest-free days.
    The due date of your account is at least 23 days after each billing cycle’s end. If you pay your closing balance in full by the due date, you can avoid paying interest on your purchases.
  • Cash advance fee.
    You will be charged $3. 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 $27 for late and returned payments depending on where you live.
  • Giveback program.
    This profit-sharing initiative helps cardholders earn periodic rewards, and an online program doesn’t require you to log in to collect them.
  • Vote on features.
    All cardholders are part of the Barclaycard Ring community, where you can vote on features you’d like to see in the future.
  • Card security.
    An embedded microchip offers more protection against fraud here and abroad when compared with cards that rely on magnetic strips only.
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How to apply for the Barclaycard Ring™ Mastercard®

Always consider your options and your financial situation before you apply for a credit card.

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 US citizen or permanent resident.
  • You have an excellent credit rating.
  • You aren’t a resident of Iowa.

Completing the application successfully requires you to provide different information that includes:

  • Your name, residential status, and time spent at your current address.
  • Your phone number and email address.
  • Your occupation and income details.
  • 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.

Bottom line

Considering the Barclaycard Ring™ Mastercard® could be a good idea if you aren’t looking for too many features but want a low APR. But this isn’t the only card of its kind, so compare a few additional options before deciding.

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Frequently asked questions

These are some of the most frequently asked questions about Barclaycard credit cards. If you still have questions about Barclaycard credit cards, please get in touch with us.

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2 Responses

  1. Default Gravatar
    KarinaApril 25, 2018

    I need to do balance transfer

    • finder Customer Care
      JeniApril 26, 2018Staff

      Hi Karina,

      Thank you for getting in touch with finder.

      If you do a balance transfer with this card, the balance transfer rate is 10.49% variable. I also suggest that you call them directly to assist you on processing your balance transger request.

      Now, to save you from paying interest from doing a balance transfer, please see this link to compare your options. This page has various credit card issuers that offer 0% balance transfer for a few months.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

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