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Apply online for Barclaycard Ring™ MasterCard®
About Our Ratings
Credit Needed
Excellent

Barclaycard Ring™ MasterCard® Review

Pros & Cons

  • If you are just looking for a card to consolidate a high amount of debt with no balance transfer fee, you might consider Chase Slate® which offers no balance transfer fee on balances transferred within the first 60 days and a 0% intro APR on balance transfers and purchases for 15 months on top of that. However, Slate®'s ongoing interest rate is higher.

Top Features

Balance Transfer Intro APR
N/A
Balance Transfer Intro Period
N/A
Balance Transfer Fee
None
Purchase APR
8.25%* Variable

Full Review

Curtis Arnold Editor-in-chief

Barclaycard Ring™ MasterCard® Essentials

A common mistake when signing up for a new credit card is getting overly excited about an introductory offer.  Finding out you can get 0% intro APR on purchases or balance transfers for a year or more is exciting, but don’t forget once the intro period is over the APR can skyrocket. For this reason, Barclaycard Ring (2016 winner of CardRating’s Editor’s Choice Award for best low-interest credit card)2016 CardRating's Editor's Choice Awards sparks our interest; you know what you’re getting from day one. Instead of dealing with a future rate that could easily hit 20% (or more), Barclaycard Ring™ MasterCard®  keeps a flat rate of 8.25% variable APR on purchases, balance transfers and cash advances — from day one.

Other Ring MasterCard® perks to consider:

  • No annual fees
  • No balance transfer fees
  • No foreign transaction fees
  • Chip-card technology for extra security
  • Complimentary FICO® Credit Score easily accessed online any time

What Our Editors Like Most About the Barclaycard Ring™ MasterCard®

Democracy. Any good democratic entity lets the people have control and transparency. Here's how the Barclaycard Ring™ MasterCard® lets you do just that:

  • You can go online and vote any time Barclaycard is considering changing the terms of the card, such as APR and other fees.
  • You get access to the company's profit and loss statement for this card, so you can be an informed voter.

Creative perk: Barclaycard holders share in the profits. Barclaycard will pay you a portion of the company's profits. You can use those "dividends" yourself or donate them to charity through a program called GIVEBACK™ and GIVEBACK™ CHARITY. It's perhaps the most creative rewards program on the market.

Potential Downsides of the Barclaycard Ring™ MasterCard®

We like the GIVEBACKprogram for its creativity however, the red tape could put a damper in its luster. The company promises to make the calculation simple and transparent, but it also says it can discontinue the program at any time. Finally, your account needs to be in good standing to earn the rewards.

The 8.25% APR is also not guaranteed, or fixed. It's a variable rate, which means it can go up or down depending on the interest rates set by the Federal Reserve, which have already started to increase in 2016. Federal interest rates are low right now, so fair warning, this APR will likely go up.

How the Barclaycard Ring™ MasterCard® Compares to Other Rewards Cards

Barclaycard Ring™MasterCard® vs. Chase Freedom®

These two cards are substantially different. The Chase Freedom® APR on balance transfers and purchases is 0% for 15 months as opposed to the steady 8.25% APR on the Ring MasterCard®. Other key differences built into the Chase Freedom® card are:

  • 1% cash back on all purchases, with 5% cash back on purchases within certain categories, like gas stations
  • Earn $150 if you spend $500 in your first 3 months, and earn another $25 when you add your first authorized user in the same 3 month period

Our vote is to go with Barclaycard if you just can't get used to regular credit card usage, and to go with the Chase option if you can. The rewards will add up fairly quick, and you'll have 15 months of 0% APR.

Barclaycard Ring™ MasterCard® vs. Chase Slate®

Chase Slate® is a shining star for balance transfers —they offer a $0 balance transfer fee when you make the transfer in the first 2 months, with a 0% APR on the transfer amounts for 15 months. With the no annual fee perk, the Slate® card becomes an excellent way to pay down debt -- in fact, a cheaper way than the Barclaycard Ring™ MasterCard®, which charges 8.25% APR from day one. However if it takes longer than 15 months to pay down your debt Slate transitions into a fairly high APR (see terms for details). So, timing is everything.

The Slate® card offers no rewards program where you get credit for particular purchases. Neither does the Ring MasterCard®, but the Ring does reward you with cash back based on company profits.Both cards give you easy access to your FICO® scores. The Chase Slate® card takes it one step further with its Monthly FICO® Score and Credit Dashboard, which provides reasons behind your credit score and tips on improving it.

Barclaycard Ring™ MasterCard® vs. BankAmericard® Credit Card

The BankAmericard® Credit Card isn't fancy, but it does offer one of the longest 0% APR introductory periods you're going to see: 18 billing cycles, for balance transfers. There is no annual fee with this card, but there is also no sort of rewards or pay back program. The BankAmericard® is your old-fashioned basic card with a twist -- a year and a half to pay off, interest-free, the debt you were accumulating on another card. We see it as the card to have, for the person who no longer wants to have a card (but still owes on one).

Who Should Get the Barclaycard Ring™ MasterCard®?

We like this card for you, if:

  • You are leery of using credit cards -- Its dedication to transparency may put you at ease.
  • You don't rely on credit spending to save for travel or gifting -- You want to avoid "the trap" of spending more than you normally would to get particular rewards.

If you've been burned by credit card usage, Barclaycard has developed a credit card that's worthy of a second chance. It's not power-packed with perks, but it's a program that honors responsible and nominal spending. What's your vote?

This card compared to other balance transfer cards

Balance Transfer Intro APR
N/A
0% Intro APR on Balance Transfers
0% Intro APR for 18 billing cycles for balance transfers made in the first 60 days
Balance Transfer Intro Period
N/A
for 15 months
18 billing cycles
Balance Transfer Fee
None
$0 Intro Fee on Transfers made within 60 days of Account Opening. After that: Either $5 or 5% of the amount of each transfer, whichever is greater.
3% of the amount of each transaction or $10, whichever is greater.
Purchase Intro
APR:
N/A
APR:
0% Intro APR on Purchases
Period:
for 15 months
APR:
N/A
Purchase APR
8.25%* Variable
13.24%-23.24% Variable 
11.24% - 21.24% Variable APR on purchases and balance transfers 
Annual Fee
$0
$0
$0.00
Rates and Fees
This card is ideal for those who want a low ongoing variable APR and original features that come on few other cards.
CardRatings.com Editorial Staff

Barclaycard Ring™ MasterCard® details

Balance Transfer Intro APR
N/A
Balance Transfer Intro Period
N/A
Purchase Intro
APR:
N/A
Purchase APR
8.25%* Variable
Annual Fee
$0
see more  

Credit Card Rate Information:


 
  Purchase
  Balance Transfer
  Cash Advance
Index:
 Prime
 Prime
 Prime
Margin:
 4.75
 4.75
 4.75
APR:
  8.25%*
Variable
 8.25%* Variable
 8.25%* Variable
APR Floor:
 
 
 
Intro Rate:
 N/A
 N/A
 N/A
Intro Period:
 N/A
 N/A
 None


Finance Calculation Method:
 Daily balance (including new purchases)
Default/Penalty APR:
 None
Default/Penalty Margin:
 None
Default/Penalty APR Floor:
 
Penalty/Default Trigger:
 

Credit Card Fee Information:


Annual Fee:
 $0
Foreign Transaction Fee:
 None
Late Fee:
 up to $26
(the amount of the fee varies by state, see terms)
Over-the-limit Fee:
 $0
Balance Transfer Fee:
None  


Notes:

Rebate Description:
 
Special Notes:
 The customizable nature of the Barclaycard Ring MasterCard makes it one of the most unique cards on the market today. Currently offering a low variable APR on balance transfers and purchases, this card also allows you to "decide on your own card benefits" and choose to share some of your rewards with charities.
Credit Card More Information:

Card Issued By:
 Barclaycard
General Correspondence Address:

Card Type:
 Mastercard
Card Class:
 See Terms
Card Category:
 Travel Rewards, Business, No Annual Fee, Hotel Rewards, Low Interest, Credit Card Deals, 0% Intro APR, Low Intro Rate, Student, Cash Back, Airline & Miles, Gas, PrePaid, No Foreign Transaction Fees, Primary Category Cards - Balance Transfer, Listed Card - Low Interest, Primary Category Cards - Low Interest
States Available In:
 
Minimum Credit Limit:
 
Maximum Credit Limit:
 
Credit Limit Notes:
 

What Barclaycard says about this card

  • A low, variable APR on balance transfers and purchases
  • No Annual Fee
  • No balance transfer fees
  • No foreign transaction fees
  • Share in the community profits through our Giveback™ program
  • Vote on product changes and share your ideas in Barclaycard Ring's community
  • Free online access to FICO® Credit Score lets you keep an eye on your credit and get alerts when we learn that your score has changed

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Apply online for Chase Slate®

Chase Slate®

  • $0 Introductory balance transfer fee for transfers made during the first 60 days of account opening
  • 0% Introductory APR for 15 months on purchases and balance transfers
  • Monthly FICO(R) Score and Credit Dashboard for free
  • No Penalty APR - Paying late won't raise your interest rate (APR). All other account pricing and terms apply
  • $0 Annual Fee
Credit Needed:
Excellent/Good
Apply online for BankAmericard® Credit Card

BankAmericard® Credit Card

  • 0% Introductory APR for 18 billing cycles for balance transfers made in the first 60 days, then 11.24% - 21.24% Variable APR.
  • Balance transfer fee of either 3% of the amount of the transfer or $10 (whichever is greater) applies
  • No annual fee
  • Saves you more on interest when you transfer balances from higher rate credit cards
  • $0 Liability Guarantee, so you're not responsible for any fraudulent charges made on your account
  • Access your FICO(r) Score for free within Online and Mobile Banking
Credit Needed:
Excellent/Good