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Barclaycard Ring Mastercard review

Barclaycard Ring Mastercard review

Published: November 29, 2017
Ratings Policy
Balance Transfer Rating:
4 rating
4 rating
4 / 5
Introductory Offer: 4.3
Net Value: 3.7
Features: 2.0

In a nutshell:

With a long 15-month introductory period, a 0 percent fee on balance transfers, a very reasonable list of fees in general, and some truly unique featuresthe Barclaycard Ring card makes its mark as a distinct product for the value-minded cardholder. This offer is no longer available.

0% Introductory Period
15 months

Transfer Fee

Introductory Purchase APR

Regular APR

Annual Fee

Other Notable Features: No foreign transaction fee, no balance transfer fee, complimentary FICO credit score, share in community profits, vote on product changes, EMV chip

Low Interest Rating:
2.8 rating
2.8 rating
2.8 / 5
Rates, Fees, Penalties: 3.0
Rewards: 0.0
Features: 2.0

In a nutshell:

Though the regular APR is on the high side for a low interest card, cardholders can realize great savings through the card’s introductory offer, which includes a long 15-month introductory period and a 0 percent fee on balance transfers. This offer is no longer available.

Regular APR

Introductory Purchase APR

Introductory Balance Transfer APR


  • No annual fee
  • No balance transfer fee
  • No foreign transaction fee
  • 13.99% cash advance APR
  • $3 cash advance fee


  • $27 late payment fee
  • No penalty APR
  • $27 returned payment fee

Other Notable Features: No foreign transaction fee, no balance transfer fee, complimentary FICO credit score, share in community profits, vote on product changes, EMV chip

Barclays recently made some major changes to their Barclaycard Ring Mastercard, all for the better. Though we have long admired the unique features on this card – including the Barclay Ring community that empowers cardholders to vote in new product changes, the card’s profit-sharing program, and the overall low rates and fees on the card – we could never recommend it over a card with a 0 percent introductory offer. Though the card’s previous APR was very reasonable, a cardholder trying to pay down a balance would ultimately save more money through a card with a 0 percent APR.

Fortunately, Barclays has updated the card to include a 15-month 0 percent introductory offer on both balance transfers (performed within the first 45 days of card membership) and new purchases. Even better, the Barclaycard Ring card is one of few cards that doesn’t charge a fee for transferring a balance.

In combination with the card’s low rates and fees, the card’s freshly-minted introductory offer makes it a great deal for cardholders seeking to transfer a balance.

Transfer a balance with no fees

The Barclaycard Ring card offers a 15-month 0 percent introductory period on both new purchases and balance transfers made within the first 45 days of card ownership. Fifteen months is a fairly long period for an introductory offer and – what makes the card especially appealing – there is no fee for balance transfers. Most cards charge a 3 to 5 percent balance transfer fee, which can add up to a large chunk of cash if you transfer a large balance. The Barclaycard Ring card  is one of a handful of cards that lets you transfer your balance for free.

Giveback program

While Barclaycard Ring is not a rewards card, you can still get rewarded via the Giveback program. Note that this is a profit-sharing program, not a rewards program, and there are no specific reward rates. Whenever a card member uses the card, a percentage of the transaction is set aside in a pool available to all card members. Once the amount in the pool reaches a certain threshold, the funds become available and all members receive a share of it. According to the program’s terms and conditions, the program and the profit-sharing features are offered at Barclaycard’s “sole discretion.” While it’s nice to get something back for buying things you need anyway, you shouldn’t apply for the Barclaycard Ring card if you are interested in reward points or cash back.

Unique open-sourced card

One standout feature of the Barclaycard Ring card is the Barclaycard Ring Community. This is a unique feature, which allows members of the community an opportunity to voice opinions and vote on product changes. For example, the decision to get rid of the foreign transaction fee was voted on by the community.

Few other features

Aside from these few unique features, the card is lacking in perks. While cards with low interest rates typically don’t come with many frills, the Barclaycard Ring card is particularly pared down, boasting only an EMV chip and free monthly access to your FICO credit score.

Why get the Barclaycard Ring Mastercard?

  • You’re looking for an inexpensive way to pay down a credit card balance.
  • You often travel abroad and want a card with no foreign transaction fees.
  • Saving money on credit card interest and fees is more important to you than rewards.
  • You want more of a voice in the features that come with your credit card.

How to use the Barclaycard Ring Mastercard:

  • Always pay more than the minimum payment due and try to pay as much as you can, despite the low APR.
  • Be sure to pay off your balance in 15 months, before the regular APR kicks in.
  • When you use the card abroad, always decline the so-called “dynamic currency conversion.” When a merchant asks you whether you want to pay in dollars or local currency, choose the local currency. Otherwise, you may be charged 5 percent or more for an unnecessary service.

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