Barclaycard Rewards Mastercard review

Barclaycard Rewards Mastercard review

Updated: November 16, 2017
Updated: November 16, 2017
Ratings Policy
Cash Back Rating:
0 rating
0 rating
0 / 5
Rewards Value0.8
Annual Percentage Rate1.7
Rewards Flexibility3.7

In a Nutshell:

Although the Barclaycard Rewards Mastercard gives you unlimited 2 percent cash back in gas, groceries and utilities, the overall value of the rewards is low and the APR is high. This offer is no longer available.

Rewards Rate

  • 2:1 on gas, eligible grocery purchases and utilities
  • 1:1 other purchases

Sign-up Bonus


Annual Fee


Estimated Yearly Rewards Value ($1,325 monthly spend)




Rewards Redemption

  • Redeem for cash back, statement credits, gift cards or merchandise
  • No quarterly sign-ups
  • No rotating categories


  • Can’t redeem cash back as a check

Other Notable Features: Free FICO credit score, other tools for rebuilding credit, 0% fraud liability, travel insurance

This offer is no longer available. For reviews of current offers, visit our reviews section.

The biggest drawback to the Barclaycard Rewards Mastercard is the value of its cash rewards program. While the card offers 2 points on gas, utilities and groceries (excluding Target and Walmart), it doesn’t offer a sign-up bonus. There are many other cash back cards that offer generous sign-up bonuses, as well as higher rates on their bonus categories (anywhere from 3 to 6 percent).

The card also has an extremely high 25.24 percent APR. You do not want to carry a balance from month to month with this card. Also, avoid being late with a single payment, as paying 25.24 percent interest in addition to the late fee really adds up.

On the plus side, the Barclaycard Rewards Mastercard is easy to use and doesn’t charge an annual fee. There are no rotating categories, no quarterly sign-ups and no caps on cash back earnings. There are some useful additional features as well, such as the free FICO credit score.

Low barrier to entry

Rewards cards are usually considered elite or premium products, and it’s rare to find a cash back card that accepts a cardholder with less than excellent credit. It is good news, then, that Barclaycard will consider you for this card even with a FICO score that falls within the range of 600 to 650.

Free FICO score

The card provides you with a free FICO score on your monthly statement. Barclaycard also notifies you if and when your score changes. This is a useful feature if you are serious about rebuilding your credit and staying on top of it.

Monthly reports to all three credit bureaus

The Barclaycard Rewards Mastercard reports your monthly payments to all three credit bureaus. This is also useful for cardholders in the process of establishing and rebuilding credit

Reviews every five months for a credit line increase

Barclaycard reviews your payment history after you make five consecutive on-time payments for the purpose of a credit line increase. A higher credit line can increase your overall credit score because it improves your credit utilization ratio, a very important factor in the FICO score.

Why get the Barclaycard Rewards Mastercard?

  • You want a card that helps you rebuild or improve your credit history while also providing cash back rewards.

How to use the Barclaycard Rewards Mastercard:

  • Take advantage of the 2 percent bonus on gas, groceries and utilities. Make sure your utility company doesn’t charge a service fee for using a credit card (some charge as high as 3 percent).
  • Since the Barclaycard Rewards Mastercard only pays 1 percent cash back for general purchases, see if you can alternate using it with other credit cards that offer higher rewards in specific bonus categories.
  • Use the FICO alerts from Barclaycard to stay on top of your credit.

All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

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