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Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007
0

Barclay Ring Card - Update from someone who got it??

Was looking at Cards with longest 0% and also cards that just are lowest APR without a intro period and this card popped up and I was thinking I have not heard anything lately.  Did anyone get this card back in the beginning and actually use it that might be able to fill in on rewards or what is happening with it?

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
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66 Cards and Counting :smileytongue:
Regular Contributor
McArthur
Posts: 249
Registered: ‎12-24-2012
0

Re: Barclay Ring Card - Update from someone who got it??


Creditaddict wrote:

Was looking at Cards with longest 0% and also cards that just are lowest APR without a intro period and this card popped up and I was thinking I have not heard anything lately.  Did anyone get this card back in the beginning and actually use it that might be able to fill in on rewards or what is happening with it?


They are looking into introducing a rewards version, but to get the rewards you will give up the 8% APR.  I think the current plan in progress is something like a 1.5% cash rebate each month with a 16% APR. 

 

For the current 8% version there are no rewards in the traditional sense, but there is what is called Giveback -- they give cardholders a percentage of the overall card product's profit.  The current criteria for who gets how much Giveback favors heavy revolvers.  If you are not a heavy revolver the Giveback seems negligible. 

Valued Member
jritch
Posts: 44
Registered: ‎01-23-2013
0

Re: Barclay Ring Card - Update from someone who got it??


McArthur wrote:

Creditaddict wrote:

Was looking at Cards with longest 0% and also cards that just are lowest APR without a intro period and this card popped up and I was thinking I have not heard anything lately.  Did anyone get this card back in the beginning and actually use it that might be able to fill in on rewards or what is happening with it?


They are looking into introducing a rewards version, but to get the rewards you will give up the 8% APR.  I think the current plan in progress is something like a 1.5% cash rebate each month with a 16% APR. 

 

For the current 8% version there are no rewards in the traditional sense, but there is what is called Giveback -- they give cardholders a percentage of the overall card product's profit.  The current criteria for who gets how much Giveback favors heavy revolvers.  If you are not a heavy revolver the Giveback seems negligible. 


Yeah, McArthur summed it up well. It's a great card if you intend to carry a balance - I couldn't find that APR with any other major bank I was looking at. I think it fits perfectly within my portfolio.

 

Also, I really like the community aspect of the card too. Specifically, users can submit ideas for improving service, rewards, innovations and the physical card itself. I feel that the product managers truly do take into consideration opinions - both good and bad. We'll see how it evolves in the coming months.

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Regular Contributor
McArthur
Posts: 249
Registered: ‎12-24-2012
0

Re: Barclay Ring Card - Update from someone who got it??

I forgot to mention that their fees are pretty friendly, too.

 

$1 cash advance fees.  BT fees are also much lower than other cards.  No late fee for your first late. 

Established Member
brokenpipe
Posts: 23
Registered: ‎01-02-2013
0

Re: Barclay Ring Card - Update from someone who got it??

I applied for one last weekend and got approved for 6300.

 

It should be coming in soon, so other than "yes I got approved" but no I've not received it. 

763 Experian / 770 Equifax / 790 TU

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