Barclay Ring: does anyone have experience with its "Giveback" program?

[Timmy_Hardwell]

Hi,

Can anyone share his/her experience with this card's "Giveback" or so-called "profit-sharing" program?

-How often is it disbursed?  Monthly? or Annually?

- What was the percentage over that time period?  (amount given back per what you spent?)

Just wondering if this product is worth getting as a "catch-all" cash rebate card for non 5% categories ( a la fidelity amex 2% everything)

[Timmy_Hardwell]

@Hammer23

any thoughts?

[johnpalley]

i want this card cause of the rate on cash advances

[Weights]

I have the ring, but never paid much attention to the profit sharing honestly.  I may be wrong on this, but I believe the giveback is dispersed once every six months or so.  I never got too much on it (usually around $5 or so), but I also haven't been using the card as much as others.  If you are thinking about this card for rewards, then this is probably not your best choice.  Part of the reason why the apr is so low comes from the lack of rewards in the true sense.  If, however, you want a card with a low apr that nevertheless gives you some sort of rewards for its use, then I'd look further into it. 

[chwebb1]

To me, I don't really pay attention to the Giveback program. I just like the card for its great APR. I think it's distributed every 6 months, though.

[samm90]

Is there a minimum income to be approved for this card?

[chwebb1]

I don't believe so. I believe I put $12k (or could have been $16k) and was approved after recon.

[w003ptr]

I thought the only worthwhile benefit of this card is the low APR.. and in that case you're probably better off apping for a card with a 0% intro period when you know you're going to be carrying a balance for a while.

[samm90]

I'll probably app in July

[JustinS]

Already have their rewards MC and tried to app for the ring cc and it appears they really don't like seeing many inquiries or new accounts for a period of time before app'ing so I myself don't intend on bothering with them much for awhile (recently got a 3x CLI on my card I have with them so probably has something to do with the decline). In general anyone looking for the ring card should probably wait until any new credit ding falls off/fades eg 6 months to a year I'd guess.