- for Barclaycard users80
- For Cash Rewards76
- for Everyday use75
Barclaycard Ring™ MasterCard® Credit Card
The Barclaycard Ring MasterCard isn’t the flashiest card on the market. It doesn’t offer a sign-up bonus, big rewards or a 0% intro APR period. But you will get a solid lineup of benefits, making it a card that you might want to keep for years.
With the Ring card, you won’t be hit with hefty fees or stuck with high interest rates. There are no annual fees, no transfer fees and no foreign transaction fees. More than that, the cash advance fee is only $3 and late payment fees are capped at just $27.
The everyday interest rate for this card is just 10.24%. That’s for everything: balance transfers, purchases and cash advances. Not bad considering how high those rates can get with most other cards—it’ not unusual to see APRs go over 20%.
The rewards feature of the Barclaycard Ring works a bit differently, too. You won’t earn a fixed amount of rewards based on how much you spend, but rather you will get part of the estimated profits of the Ring product. Because of this, you won’t know how many rewards you are getting ahead of time. The rewards typically range from nothing to a standard 1 to 2 percent return.
Barclaycard Ring Card: Bonuses and Benefits
Knowing what benefits come with a credit card can help you decide if it’s a good fit for you. Here we cover the bonuses and perks that the Barclaycard Ring™ MasterCard® offers and the value of the Barclays Giveback™ cashback you earn.
Keeping with the theme of being a solid card without flashy perks, the Barclaycard Ring doesn’t come with a sign-up bonus. Instead, you’ll get a low APR, no transfer fees, no foreign transaction fees, reasonable late-payment fees, a small return if the card is profitable and a small cash-advance fee.
Baclaycard also offers cardholders access to an exclusive online community. Through this community, card members can share their ideas, offer advice, guide the future benefits of the card and receive credit health education.
What You Get
- No annual fee
- No balance transfer fees
- No Foreign Transaction Fees
- 10.24% APR for balance transfers, purchases and cash advances
- Max $27 late fee
- Anywhere from 0 to 2 percent back via the Giveback profit-sharing program
- Free FICO score
What is the value of the Giveback™ Cashback?
The Barclaycard Ring is very different than other credit cards in terms of its rewards program. Rather than receive a certain percentage back on every purchase, card members get a portion of the estimated profits of the Ring program.
To determine the amount of rewards cardholders get, Barclays creates what they call a Giveback pool. A certain percentage of all transactions—including purchases, cash advances and balance transfers—is put into that pool. Barclays also adds up to $20 for every new card member. The total amount collected in the Giveback pool is then distributed to cardholders based on their account activity and the number of new card referrals they’re responsible for.
This is essentially a profit-sharing program. If the card does well, you’ll earn rewards. But if it doesn’t, you might not earn anything at all. Cardholders have reported getting anywhere from nothing to 2 percent back every six months.
Everyday Earnings with Barclaycard Ring™ MasterCard®
This card doesn’t earn rewards on everyday spending like a regular card does. Rather, the amount you earn is tied to the card’s performance. In short, card members get a portion of the Barclaycard Ring’s estimated profits. The portion of the profits that a member receives is determined by their account activity and the number of approved referrals they generate. Members can then keep all of their Giveback rewards, donate them to charity or split them between the two.
For each new Ring card member, Barclaycard contributes $10 to $20 into the Giveback pool. New cardholders referred by current members are worth the full $20. Additionally, 70 percent of all profits that exceed a 3 percent annualized return on the average balances goes into the Giveback pool. Profits from spending, cash advances and balance transfers are included in the total.
For referrals, each card member will be paid a percentage for the number of applications they drive. That percentage is based in part on the total number of applications, including those contributed by Barclays.
How account activity is determined is more complicated. Barclaycard adds cardholder statement balances from the previous six months. That number is then divided by the total number of eligible statement balances to determine the value for each statement dollar.
Overall, it is much more complex than other credit cards, and you really have no idea what kind of cash back you will get each reward period. It could be on par with a 1 or 2 percent cashback card or nothing at all.
No Foreign Transaction Fee
You won’t pay any additional fees to use this card while traveling abroad.
Fees: the cost of Having Barclaycard Ring™ MasterCard®
The Barclaycard Ring doesn’t have an annual fee, so you don’t need to spend anything in order justify keeping the card. Granted, the amount of cash back you earn is somewhat tied to spending, so you will not earn anything back without spending on your card. Even if you do spend on your Ring card, you are not guaranteed to earn any amount of cash back due to its unique earning structure.
- Annual Fee
- Balance Transfer Fee
- Foreign Transaction Fee
- Late Payment Fee
Up to $27 Variable±
Top 5 Benefits of the Barclaycard Ring MasterCard
Since the Barclaycard Ring is a little bit different than many credit card products out there, it also has some unique benefits.
- No Annual Fee: You’ll never have to pay anything for this card. That means all the rewards you earn are essentially free—though there’s no guarantee to how many rewards you will earn.
- No Balance Transfer Fee: If you find yourself needing to transfer balances from a high interest rate credit card on a regular basis, it might make sense to take advantage of the Ring’s balance transfer program. You’ll never pay for a balance transfer.
- Low Ongoing Interest Rate: The Barclaycard Ring features a relatively low interest rate. This is a major benefit to those that need to transfer balances or carry a balance for a few months while you pay down your debt.
- Low Fees: The cash advance fee is only $3, and you’ll never pay more than $27 in late fees. Plus, you won’t pay a penny for foreign transactions.
- Rewards: While you can’t count on how many rewards you’re going to get, you will get something as long as the card is successful. If you have debt, paying that down should be your top priority since the best rewards cards have insane interest rates. Here, you’ll give up some rewards and you won’t know exactly how much you’re going to get, but you will save significantly on interest fees along the way.
Should You Get the Barclaycard Ring MasterCard?
If you’re looking for a no-nonsense, no-frills credit card that won’t hit you with hidden fees and sky-high interest rates, then the Barclaycard Ring may be for you. It has no annual fee, no transfer fees and no foreign transaction fees.
What fees it does charge are very reasonable. Cash advance fees are $3, and the most you’ll ever be changed in late fees is $27.
Even the interest rates for the Ring card are very reasonable. Everything, including balance transfers, purchases and even cash advances, have a 10.24% APR. Not bad compared to the horrendous rates a lot of other cards charge. Plus, those rates don’t expire after a brief introductory period.
You may even get cash back every six months through the issuer’s Giveback program. The amount of rewards you get is determined in part by the success of the card. There may be times when you’ll get nothing, but you might get as much as 2 percent back.
None of the Ring card’s benefits are flashy, but they may make it a credit card worth hanging onto for years.
However, there are a lot of other cards on the market that offer a lot more in terms of rewards and short-term financing. You can get cards that always offer 1.5 or 2 percent cash back on all purchases. That rate can climb even higher for certain purchases and with sign-up offers.
Many cashback cards will also give you interest-free financing for a year or more. You have to remember, though, that the financing offers are always short-term. After the introductory period, that APR can be very high. Plus, you will be charged up to a 3 percent fee for balance transfers with nearly every card other than the Barclaycard Ring.
If you just need a little extra time to pay off your balance, or if you’re thinking about making a big purchase, getting one of these 0% cards might be a better option. We’ll talk more about those cards and make a few recommendations later in the review.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
- Most people who are approved for the Barclaycard Ring indicate that they have a credit score of 720 or higher. You may be able to get this card with a lower score, and you may not be approved even if your score is 720 or higher. Barclaycard will do a full evaluation of your application before deciding whether to approve or deny you.
- Unfortunately, you won’t know how many rewards you’ll get back ahead of time. The Barclaycard Ring’s rewards are based on the size of the Giveback pool, which is determined by the number of new card members and the total returns for the entire Ring program. You can read more about how the size of the Giveback pool is determined on Barclaycards’ blog.
- The Barclaycard Ring does not have an introductory period. The current standard interest rate 10.24%, and it won’t change after a promotional period. You will receive the same APR for balance transfers, purchases and cash advances.
Other Barclays Credit Cards
Before you apply for the Barclaycard Ring, it makes sense to look at a couple of other Barclays credit cards, including the Arrival Plus World Elite MasterCard and the CashForward card.
The Uber Visa Card and Arrival Plus are pretty different from the Barclaycard Ring. The Arrival Plus World Elite MasterCard is a great option for someone looking for a basic travel card. It has an $89 annual fee and offers 50,000 points as a sign-up bonus. The Arrival Plus earns two points for every dollar spent, and each point can be redeemed for one cent toward travel purchases, making it essentially a 2 percent cashback card.
Uber Visa Credit Card offers generous cashback bonuses. You can earn 4.0 percent cash back at restaurants, 3.0 percent back for certain major travel expenses, 2.0 percent back on most online and mobile purchases (including Uber rides) and 1.0 percent back everywhere else. Plus, it’s a no-fee card that comes with a $100 sign-up bonus.
Compare Barclaycard Ring MasterCard to Other Cards
You should also consider cards that aren’t issued by Barclaycard, including the BankAmericard Cash Rewards card, U.S. Pride and MLB card.
The BankAmericard Cash Rewards card gives you 3 percent back on gas, 2 percent back on grocery stores and wholesale clubs, and 1 percent back on all other purchases. It also offers a $150 sign-up bonus. With the BankAmericard, you can get 0% APR for 12 months on purchases and balance transfers made within the first 60 days. Unfortunately, you will need to pay a 3 percent balance transfer fee.
The U.S. Pride credit card is also issued by Bank of America and earns the same cashback rates in the same categories as the Cash Rewards card. It also offers an intro 0% APR period, but does not offer a cash sign-up bonus.
The MLB credit card is also issued by Bank of America and offers $150 cash back for a sign-up bonus. All 30 baseball team cards are available, and you’ll still earn 3 percent back on gas, 2 percent back on grocery/wholesale purchases and 1 percent back on everything else, with an introductory 0% APR period.
Basically, if you want to know what kind of rewards you’re getting back, any of these options are better than the Barclaycard Ring. You should pick whichever one has the design you like the most.
Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.
Card Terms and Conditions
While it's easy to focus on the rewards offered by the Barclaycard Ring MasterCard, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with this MasterCard.
- Intro APR:
- See Terms and Conditions
- Ongoing APR:
- 10.49% Variable±
- Intro APR for balance transfers:
- See Terms and Conditions
- Minimum Grace Period:
- 23 days
Cash Advance Features
- Ongoing APR:
- 10.49% Variable±
- Cash Advance Fee:
- $3 for each cash advance
Security and Protections
The Barclaycard Ring offers all of the security benefits you would expect from a major credit card, including:
- Banking On The Go:
- Track your account with Barclaycard’s mobile app.
- Emv Chip Plus Signature Technology:
- Paying for your purchases is more secure at chip-enabled terminals in the U.S. and abroad.
- Free Fico Score:
- Get free online access to your FICO score and get alerts when Barclaycard learns that your score has changed.
- Learn About Credit Health:
- Improve your credit and get a behind the scenes look at Barclaycard’s Big Print Blog.
Barclaycard offers a mobile banking app so you can more easily monitor your spending while you’re on the go. The Barclaycard Ring is also compatible with Apple Pay, Samsung Pay and Android Pay.
Additional Cardholder Benefits
As part of the MasterCard network, the Barclaycard Ring comes with a variety of cardholder benefits.
Master Card Travel Benefits
- Auto Rental Collision Damage Waiver:
- Coverage for theft and collision for most rentals in the U.S. and abroad. Coverage is secondary to your personal insurance.
- Extended Warranty:
- If the original manufacturer’s warranty is 12 months or less, MasterCard will double the original manufacturer warranty up to the maximum of 12 months.
- Price Protection:
- Purchases you make entirely with your Barclaycard Ring are covered for 120 days from the date of purchases. The coverage is the different between the price you paid and the advertised lower price, up to $250 per claim. There are a maximum of four claims per card member account per 12 month period.
- Master Card Global Service:
- 24-hour assistance with lost and stolen card reporting, emergency card replacement and emergency cash advance.