dcsimg
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 months, 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 for 18 billing cycles for balance transfers made in the first 60 days
0%*
Balance Transfer Intro Period
N/A
18 billing cycles
21 months on Balance Transfers*
Balance Transfer Fee
None
3% of the amount of each transaction or $10, whichever is greater.
3% of each balance transfer; $5 minimum.
Purchase Intro
APR:
N/A
APR:
N/A
APR:
0%*
Period:
21 months on Purchases*
Purchase APR
8.25%* Variable
11.24% - 21.24% Variable APR on purchases and balance transfers 
13.24% - 23.24% (variable) 
Annual Fee
$0
$0
$0*
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:
 Â 
Card Class:
 See Terms
Card Category:
 No Annual Fee, Low Ongoing Rate, Low Interest, Primary Category Cards - Low Interest, Listed Card - Low Interest, No Foreign Transaction Fees, Primary Category Cards - Balance Transfer, Balance Transfer
States Available In:
 
Minimum Credit Limit:
 
Maximum Credit Limit:
 
Credit Limit Notes:
 

What Barclaycard says about this card

  • No Balance Transfer Fees - start saving immediately!
  • A low variable APR on balance transfers and purchases
  • No Annual Fee
  • Choose your card benefits and features
  • Get rewarded through the new Giveback program, where Barclaycard Ring members get money back for good performance
  • Get exclusive access to our online community and vote on the card features you like and view the financials of the Barclaycard Ring MasterCard online
  • Learn more about personal finance from Barclaycard and other members
  • Complimentary FICO® Credit Scores as a benefit to active cardmembers. Opt-in to have instant and convenient access to FICO® Scores from your Barclaycard online account.

Credit Card Consumer Reviews:

  1. No reviews available for this card.   Be the first to review!

Write Consumer Reviews:





E-Mail will not be published









Start Here

Search. Compare. Apply.

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
  • The perfect card for those seeking a simple yet convenient-to-use credit card
  • Zero liability fraud protection, so you're not responsible for any fraudulent charges made on your account
Credit Needed:
Excellent/Good
Apply online for Chase Slate®

Chase Slate®

  • Chase Slate named "Best Credit Card for Balance Transfers" three years in a row by MONEY Magazine
  • $0 Introductory balance transfer fee for transfers made during the first 60 days
  • 0% Introductory APR for 15 months on purchases and balance transfers
  • Free Monthly FICO(R) Score and Credit Dashboard
  • 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