Review
Updated
Fact Checked
Nathan Alderman
Offer status
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
Rating image, 4.00 out of 5 stars.
4.00/5
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.
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Rating image, 4.00 out of 5 stars.
4.00/5
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.
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= Best
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= Excellent
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= Good
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= Fair
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= Poor
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Credit Score
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
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
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While it was an interesting concept, this card didn't quite offer the kind of value you could get from the top credit cards.
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- 0% intro APR on balance transfers
- Low ongoing APR
- No annual fee
- Low balance transfer fee
- No foreign transaction fee
- No 0% intro APR on purchases
- No rewards
- No welcome offer
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- Enjoy a 0% intro APR for 15 months on balance transfers made within 45 days of account opening. After that, a variable 14.24% APR will apply
- Low 14.24% variable APR on purchases and cash advances·
- NEW - Control Your Card - Instantly secure your accounts by locking your cards with Barclays SecurHold™, plus set transaction limits and block certain purchase categories for you or your authorized users. Available only on the Barclays mobile app.
- No annual fee
- No foreign transaction fees
- International Chip and PIN
Alternatives to consider
- If you want to earn cash back: The Discover it® Cash Back combines a strong cash back program with a 0% intro APR. It also has a unique welcome offer, where Discover matches the cash back you've earned at the end of your first year.
- If you want a 0% intro APR on purchases: The Wells Fargo Reflect® Card is hard to top. It has the longest 0% intro APR we've seen, lasting for 21 months from account opening. It applies to purchases, as well as qualifying balance transfers made within the first 120 days. After that, the go-to 18.24%, 24.74%, or 29.99% Variable APR applies.
As of Apr. 16, 2024
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| Discover it® Cash Back | Wells Fargo Reflect® Card |
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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 |
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 |
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Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
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Welcome Offer: N/A Discover will match all the cash back you’ve earned at the end of your first year. |
Welcome Offer: — |
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Rewards Program: 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. 1% - 5% Cashback |
Rewards Program: N/A |
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Intro APR: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months |
Intro APR: 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers Purchases: 0% intro APR, 21 months from account opening Balance Transfers: 0% intro APR, 21 months from account opening on qualifying balance transfers |
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Regular APR: 17.24% - 28.24% Variable APR |
Regular APR: 18.24%, 24.74%, or 29.99% Variable APR |
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Annual Fee: $0 |
Annual Fee: N/A $0 |
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Highlights:
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Full Barclaycard Ring Card review
This credit card is a good fit for: Consumers who want to save money on debt with a 0% intro APR on balance transfers.
Top perks
For low fees and low interest, the Barclaycard Ring® Mastercard® was a winner.
0% intro APR for balance transfers
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
Low ongoing APR
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.
Up to 2% ($5 min.) balance transfer fee
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.
No foreign transaction 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.
What could be improved
Along with its benefits, the Barclaycard Ring® Mastercard® also had some major drawbacks.
No 0% intro APR on purchases
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
No rewards
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.
No welcome offer
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
Find the best credit card for your needs
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
How the Giveback™ program works
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.
A crowdsourced credit card
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.
Suggested credit score
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 Card is right for you if:
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.
Our credit card methodology
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.
FAQs
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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.
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Yes, the Barclaycard Ring® Mastercard® was discontinued in 2019.
Our Credit Cards Experts
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
Fact Checked
Nathan Alderman
Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.
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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.
Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Wells Fargo is an advertising partner of The Ascent, a Motley Fool company. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Lyle Daly has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Mastercard, and Target. The Motley Fool recommends Barclays Plc and Discover Financial Services and recommends the following options: long January 2025 $370 calls on Mastercard and short January 2025 $380 calls on Mastercard. The Motley Fool has a disclosure policy.
The Motley Fool owns shares of and recommends Mastercard.