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Barclaycard Ring Mastercard review

Published: May 17, 2018

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Published: May 17, 2018

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Ratings Policy
Low Interest Rating:
2.2 rating
2.2 rating
2.2 / 5
Rates, Fees, Penalties: 2.2
Rewards: 0.0
Features: 3.0

In a Nutshell:

Though it is bested by cards that offer a combination of a low regular APR and a 0-percent introductory APR, the Barclaycard Ring Mastercard stands apart for offering a set of unique, valuable features.

Learn more about this card

Regular APR
10.49% (variable) (See terms)

Introductory Purchase APR

Introductory Balance Transfer APR


  • No annual fee
  • No balance transfer fee
  • No foreign transaction fee
  • 10.49% cash advance APR
  • $3 cash advance fee
  • (See terms)


  • Up to $27 late payment fee
  • No penalty APR
  • Up to $27 returned payment fee
  • (See terms)

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

In addition to a very low purchase APR, the Barclaycard Ring Mastercard features a low cash-advance rate, no foreign transaction fees, no penalty APR and a slew of features that are not found on any other credit card on the market today. On the other hand, the card doesn’t offer a traditional rewards program to appeal to point collectors, or a zero percent introductory offer. The low APR on this card is not sufficient to recommend it over other cards that offer a zero percent APR for a year or longer.

No introductory APR

The lack of a zero percent introductory APR is is the primary downside of the Barclaycard Ring card. The card does offer a very low regular APR of 10.49 percent (variable). However, for a cardholder seeking to save money on interest payments, it’s not low enough to compensate for the lack of an introductory offer. Many cards on the market offer a zero percent APR for 12 months or longer. Unless you expect to carry a debt for an exceptionally long period, you could save hundreds of dollars in interest by applying it to one of these cards instead.

The fees are low

On the plus side, the remainder of the fees and interest rates on the Barclaycard Ring card are very reasonable. While other cards typically hit you with an APR exceeding 25 percent for cash advances, the Ring card offers a very low cash-advance APR of 10.49 percent. There is a low fee of $3 for cash advances and no fee at all for balance transfers. Cardholders may find the lack of a foreign transaction fee especially useful. The majority of credit cards charge around a 3 percent foreign exchange fee when you use your credit card abroad. Not this card. When you pay with Barclaycard Ring card, your final price will be the same as paying with cash.

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 Barclay’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 don’t care about an introductory APR for purchases or balance transfer.
  • 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.
  • 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.

Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy

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.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

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