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If you have little or no credit history, the Barclaycard Forward Credit Card could make a smart first foray into the world of credit cards. It also offers access to Barclaycard Entertainment discounts on days and nights out.
You say: ★★★★★We say: ★★★★★
In a nutshell:
Minimum credit limit
Up to 56 days
Interest-free each billing period
|Min credit limit||£50|
|Max credit limit||Subject to status: £1,200|
|Credit limit note||Subject to status|
|Purchases||0% for 3 months reverting to 33.9%|
|Purchases interest-free period (days)||56|
|Additional cards available||4|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
As a “credit builder”, Barclaycard’s Forward credit card comes with no annual fee to worry about, plus opening credit limits (which are tailored to the applicant) are relatively small and the standard rate is relatively high. However, if you clear your balance in full each month, you won’t pay interest on purchases – you’ll benefit from up to 56 days of 0% interest each billing cycle (this doesn’t apply to cash advances).
To help ensure you pay on time (and therefore protect and improve your credit score), you can set up a direct debit for whichever day of the month suits you, to make your monthly repayment. You can choose to clear your balance in full, pay a set amount or pay the minimum amount required. You can also set custom text alerts to keep up-to-date with your balance and monitor when any payments are due.
While benefits are usually few and far between with “credit builder” cards, this card comes with an introductory 3-month 0% interest offer on purchases, which is handy if you have a major outlay coming up and need to spread the cost. Just be aware of the fairly punishing standard interest rate that will kick in and apply to any outstanding balance once the introductory period expires.
Access to Barclaycard Entertainment comes as standard, which means savings on tickets across more than 3,000 gigs, comedy nights and family days out each year.
The Barclaycard Forward Credit Card is issued on the Visa network (used by a whopping 3.3 billion cards), so you'll be able to use it at more than 46 million merchants across more than 200 countries and territories.
Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
You can make manual repayments through Barclaycard's app, by logging in to your online banking or over the phone (0800 731 0200). Alternatively you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and damaging your credit score – making it harder and more expensive to borrow money in the future – and getting hit with a penalty fee (£12) as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
If you've compared cards and settled on the Barclaycard Forward Credit Card, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.
If your application is successful, your shiny new Barclaycard could be with you in five working days.
If your application is approved, Barclaycard states your card can be with you in as little as five working days. If in doubt, you can check up on the status of your application.
Yes – outside of any promotional periods, your rate is variable, so if the Bank of England base rate goes up, Barclaycard's rates might go up too. However, if you use your card correctly for 12 months, Barclaycard states your rate could be reduced.
Yes. Hello pre-sale tickets!
Credit limits are tailored to the individual. That means Barclaycard will assess your situation and, if you get approved, offer you a particular credit limit. After a period of responsible card use, your limit can usually be reviewed.
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