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Barclaycard® Rewards MasterCard® Review

Curtis Arnold Curtis Arnold
Editor-in-chief

Full Review

Curtis Arnold Editor-in-chief
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The next British invasion may hit your wallet instead of your music collection, with UK lending giant Barclays using its Barclaycard brand to make inroads into the American credit card market. For a few years now, Barclaycard has backed some recognizable retail and travel rewards cards bearing familiar brands like US Airways and Wyndham Hotels. Lately, though, Barclays has put the new logo and brand of its American unit into the spotlight. The self-branded Barclaycard Rewards MasterCard offers borrowers with average credit the opportunity to earn perks and rewards usually reserved for consumers with higher FICO scores.

This no annual fee card offers you 2X cash back rewards on purchases for gas, groceries and utilities and 1X cash back rewards on all other purchases. These cash back rewards are earned as points and when you rack up more than 1,000 rewards points and you can redeem your points for a cash back statement credit that can help cover the cost of your purchases or for gift cards. Like similar programs from Chase, American Express (a CardRatings.com advertiser), and Citi (a CardRatings.com advertiser), Barclaycard's reward structure doesn't require you to redeem your rewards points with a specific airline, restaurant, or retailer. Redemption values in Barclaycard's program compare favorably with those from similar programs that offer access to consumers with average credit.

How Barclaycard Rewards MasterCard compares with other credit cards for average credit

Like other credit cards for average credit, this card balances perks with a much-higher-than-average APR. If you're trying to earn as many rewards points as possible, Barclaycard's convenient website and smartphone apps allow you to process payments throughout your statement cycle. You won't want to carry a balance on this card, though.

Because Barclaycard doesn't define a warehouse store as either a gas station or a grocery store, you might get a better overall redemption rate from a card that bears a retailer's brand. However, for most consumers with average credit, the lack of an annual fee makes this card a relatively risk-free way to build a long-term relationship with a trusted lender as they grow their U.S. operation.

Rewards credit card for building or rebuilding credit

If you want to upgrade to a rewards credit card for average credit with no annual fee you might consider this card.

Credit reporting agencies rely heavily on your credit utilization ratio when calculating your credit score. Therefore, you'll get the most mileage from this account by keeping your monthly balance just above zero. If you've been using a prepaid debit card for routine expenses, switching to this card can give you added security and with the rewards program you can earn points thereby getting extra value with your purchases. Just submit your payments in time and keep your statement balance as low as possible.

Should you switch to Barclaycard Rewards MasterCard?

If you're currently paying an annual fee just to participate in a credit card rewards program, the Barclaycard Rewards MasterCard offers a compelling alternative. However, as your credit score improves, you'll earn access to accounts with lower APRs and higher rewards redemption rates. Many of Barclaycard's own credit cards for good to excellent credit offer added rewards bonuses and lower APRs.

Barclaycard® Rewards MasterCard® details

Points or Miles
2X cash back rewards on purchases for gas, groceries and utilities; 1X cash back rewards on all other purchases. Cash back rewards are earned as points which can be redeemed for rewards such as cash back statement credits and gift cards.
Bonus Miles or Points
N/A
Purchase APR
24.99%* Variable 
Annual Fee
$0
see more details ∨

Credit Card Rate Information:


 
  Purchase
  Balance Transfer
  Cash Advance
Index:
 Prime
 Prime
 Prime
Margin:
 21.74
 21.74
 21.99
APR:
  24.99%* Variable
 24.99%* Variable
 25.24%* Variable
APR Floor:
 
 
 
Intro Rate:
 N/A
 N/A
 N/A
Intro Period:
 N/A
 N/A
 N/A


Finance Calculation Method:
 Daily balance (including new purchases)
Default/Penalty APR:
 
Default/Penalty Margin:
 
Default/Penalty APR Floor:
 
Penalty/Default Trigger:
 

Credit Card Fee Information:


Annual Fee:
 $0
Foreign Transaction Fee:
 3% of each transaction in U.S. dollars.
Late Fee:
 Up to $37
Over-the-limit Fee:
 
Balance Transfer Fee:
Either $5 or 3% of the amount of each transfer, whichever is greater.  


Notes:

Rebate Description:
 
Special Notes:
 No annual fee. 2X cash back rewards on purchases for gas, groceries and utilities. 1X cash back rewards on all other purchases. Cash back rewards are earned as points which can be redeemed for rewards such as cash back statement credits and gift cards starting at 1,000 points for $10.
Credit Card More Information:

Card Issued By:
 Barclaycard
General Correspondence Address:
 
Card Type:
 MasterCard
Card Class:
 See Terms
Card Category:
 Reward, Points Rewards, Rewards
States Available In:
 ALL
Minimum Credit Limit:
 
Maximum Credit Limit:
 
Credit Limit Notes:
 

What Barclaycard says about this card

  • No annual fee
  • 2X cash back rewards on purchases for gas, groceries and utilities
  • 1X cash back rewards on all other purchases
  • Cash back rewards are earned as points which can be redeemed for rewards such as cash back statement credits and gift cards starting at 1,000 points for $10
  • Chip card technology, so paying for your purchases is more secure at chip-card terminals in the U.S. and abroad
  • Reports to all 3 major credit bureaus monthly providing you the opportunity to rebuild your credit score
  • Complimentary FICO® Credit Scores as a benefit to active card members

Credit Card Consumer Average Ratings:

Overall Ratings
Reward Program
Card Benefit
Customer Service

Credit Card Consumer Reviews:

  1. Overall Ratings:
    Reward Program:
    Card Benefit:
    Customer Service:
    MIR ( Jun 25, 2015 at 11:42 am)

    I love this card , never had any problem with them like other companies in the past. Easy to use website , give you great points while shopping on regular bases. Use regular pay it back right away earn great points. You can redeem the points as cash to apply to your card. Givefree Fico score.


  2. Overall Ratings:
    Reward Program:
    Card Benefit:
    Customer Service:
    RICARDO J SANTANA ( Jan 9, 2015 at 6:48 am)

    VERY REPUTABLE COMPANY! YOU CAN TRUST!


  3. Overall Ratings:
    Reward Program:
    Card Benefit:
    Customer Service:
    Amanda Shorten ( Oct 7, 2014 at 4:17 pm)

    I love this company. Lots of helpful information, and gave me a second chance after a bad divorce, & a bankruptcy...Recommend to anyone...


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