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This credit card is no longer available from Barclaycard. Please see our best balance transfer credit cards list for alternatives to consider.
The Barclaycard Ring® Mastercard® was one of the more unique credit card options. It had a reasonable interest rate, and there was a forum where cardholders could discuss and vote on changes to the card. But it's not open for applications anymore, as Barclays has discontinued it. Check out some great alternatives and see what made this card special in our Barclaycard Ring® Mastercard® review.
Barclaycard Ring® Mastercard®
Great for: Low interest rate
Good/Excellent (670-850)
Intro APR 0% intro APR for 15 months on balance transfers made within 45 days of account opening to qualify. After that, a variable 14.24% APR will apply.
Purchases: N/A
Balance Transfers: 0%. 15 months=
Regular APR
14.24%, variable
Rewards
N/A
Annual Fee
$0
Welcome Offer
N/A
While it was an interesting concept, this card didn't quite offer the kind of value you could get from the top credit cards.
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
---|---|---|---|---|---|
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Discover will match all the cash back you’ve earned at the end of your first year. N/A | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 17.24% - 28.24% Variable APR |
||
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Up to $300 cash back Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash back Enjoy 5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases |
Intro: 0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular: 20.49% - 29.24% Variable |
Apply Now for Chase Freedom Unlimited®
On Chase's Secure Website. |
|
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
60,000 bonus points Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠. | 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. |
Intro: N/A Purchases: N/A Balance Transfers: N/A Regular: 21.49%-28.49% Variable |
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
This credit card is a good fit for: Consumers who want to save money on debt with a 0% intro APR on balance transfers.
For low fees and low interest, the Barclaycard Ring® Mastercard® was a winner.
This card offered a 15-month 0% intro APR on balance transfers made within 45 days of account opening. It wasn't the longest balance transfer offer, but that's still a fairly long time to pay down debt.
MORE OPTIONS: Best Balance Transfer Credit Cards
A low APR isn't something you find often with credit cards, unless it's a 0% intro APR. This Barclaycard had a lower APR than most cards. Even though it's better to pay your credit card bill in full every month to avoid interest, that may not always be feasible.
For balances transferred within 45 days, this card charged a low balance transfer fee: Up to 2% ($5 min.). Most cards charge 3% to 5%, so this one would save you some money. Balance transfers made after the first 45 days were even cheaper, with a $0 fee.
Many popular no annual fee cards will charge you 3% every time you buy something internationally. The Barclaycard Ring® Mastercard®, on the other hand, didn't charge a foreign transaction fee.
Along with its benefits, the Barclaycard Ring® Mastercard® also had some major drawbacks.
While this card had a great 0% intro APR on balance transfers, it didn't offer the same type of deal on purchases. A 0% intro APR on purchases is helpful if you have big expenses coming up that you'd like to pay off over time.
COMPARE OPTIONS: Best 0% APR Credit Cards
This card didn't earn rewards points or cash back on purchases. That's a serious downside, considering how much value the top rewards credit cards offer. In fairness, you could earn money back through the Barclaycard Ring Giveback™ program, which is explained in detail further below.
Another credit card perk that can provide quite a bit of value is welcome offers. Many cards offer bonus cash back or points to new cardholders who meet a spending requirement. This one didn't, limiting its value.
LEARN MORE: Best Credit Card Sign-Up Bonuses
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
Instead of offering cash back or rewards with this card, Barclays created the Barclaycard Ring Giveback™ program, a unique profit-sharing arrangement.
Here's how it worked -- once Barclaycard cleared a set revenue return percentage on the Barclaycard Ring® Mastercard®, it distributed a portion of any further profits to the cardholders. There were separate profit pools, one for referrals and one for use of the card. Cardholders were eligible to receive a payout from the referral pool if they had at least one referral during the designated time period, and they were eligible for a payout from the other pool if they had used the card at all.
Cardholders could also have Barclays donate their Giveback™ payouts to a charitable cause.
It was an interesting idea, but if you were interested in earning rewards, this wasn't the card to do it. Payouts didn't measure up to what the top cash back cards and travel rewards cards earn.
Another innovation of the Barclaycard Ring® Mastercard® was the Barclays Ring Community. Barclays created a forum for all cardholders to share their opinions on the card, suggest improvements, and even vote on changes.
This wasn't just a meaningless gesture, as the community made several decisions that affected the card. There was originally a 1% foreign transaction fee and a $1 cash advance fee, until the community voted on a switch to no foreign transaction fee and a $3 cash advance fee.
A FICO® Score of 670 or higher was recommended before applying for the Barclaycard Ring® Mastercard®. Applicants who were approved generally had good credit.
SEE MORE OPTIONS: Best Credit Cards
The Barclaycard Ring® Mastercard® was a good balance transfer card. Outside of that, it had limited benefits. It was a unique card, so it's disappointing that it's no longer available. Fortunately, there are plenty of high-value credit cards out there, so keep browsing credit card reviews to find the one that's right for you.
At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.
Benefits of the Barclaycard Ring® Mastercard® included a 0% intro APR on balance transfers, a low ongoing APR, and no annual fee or foreign transaction fee. However, this card is no longer available.
Yes, the Barclaycard Ring® Mastercard® was discontinued in 2019.
Our Credit Cards Experts
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
The Motley Fool owns shares of and recommends Mastercard.