Ring APR went way up

[redpat]

---

@pipeguy wrote:

---

@pip3man wrote:

Jacking up the APR certainly changes everything appealing about this card. Hell my Citi Double Cash trumps the Ring in every possible way. I earn my 2% cashback and enjoy a 5.49% standard APR that the Ring will never see in a million years. Barclays should go outta business already! Matter of fact the U.S market isn't for them cos they certainly have no competitive advantage in comparison with other credit card providers. All they pride themselves in is unleashing adverse action left and right. Mediocre card at best!!!

---

That's kind of harsh....

I have 3 Barclays Cards - PIF every month so the APR is no big deal to me, and the RING at 8.5% is one of my lower APR's (Old AmEx 7.25%, DCU 8.75%). Frankly I think Cap-1 sucks big time with high APR's and crappy treatment of accounts, but that's only my experience with Cap-1 (my GM card is great, few others share that opinion). Comenity....thats a different story they really should be shut down.  

---

It is but it's kinda the truth.........

[kdm31091]

All of Barclay's products are basically just copies of competing products at this point. The Ring was the one card that at least had some unique qualities. Arrival, Cashforward, etc can all be matched and/or beaten elsewhere, which is a problem when you're trying to gain market share in the US.

[Anonymous]

if you live in BB&T footprint, their Bright non rewards card is 8.5 - 14.5 with 0 for 15 mo. Might as well roll the dice with that if your EQ is clean

Was fortunate to get 9.74

[Anonymous]

My Citi double cash has 13.49 with 2% cash back. Lol

[willwar14]

I'm glad I picked up the card when I did, if they decide to hack my 8.5% to 13.5 or whatever, they will get the closing hammer.

[Anonymous]

Meh.. I'm still happy with my Ring, and will still be attempting to roll my Sallie limit into it in a few months and make the ring 22K.  For swipe it's worthless but valuable to me as a cash advance card.  Esentillay a PLOC at 40% of limit with a 3% fee, and 8.5% variable dumping ground for any balances.  I hope to never need either feature but I'll keep it around for those purposes.

Barclays does kinda suck though.

[Anonymous]

---

@SouthJamaica wrote:

---

@AverageJoesCredit wrote:
Wonder how SJ feels, this is his golden egg

---

I think it's a mistake on their part, reaching out to prospective new customers at the expense of taking away some of the card's uniqueness among bank cards.

To me it's like they're just running with the crowd.

But still it has certain pluses:

$3 cash advance fee

no balance transfer fee

13.49% isn't a terrible rate for purchases & BT's, & it's a very good rate for cash advances

---

Time for you to take on the great Simmons Bank Platinum Visa Card with a 7.75% variable Apr and remember they are regular folks located in Pine Bluff Arkansas. Common down off of your soap box now and join the rest of us folks   You have been a strong supporter and I followed your suggestion and got in with Barclays Ring with the 8.5% Apr rate (suppose they will give us a year or two and then neff our rate just like they did to the Barclay Sallie Mae crowd).

[grillandwinemaster]

---

DeeBee78 wrote :

What's strange is that Barclay's calls the Ring a community-driven card. This implies that the community has the power to make changes to the offering. In reality, the community just gets to peek behind the curtain a bit. 

---

I think this whole "community" business is just some Brit Executives pet project at a marketing and retention campaign.  

No way the higher ups are going to give any SERIOUS consideration to the opinion of the very people they are trying to extract profits from.  

The community does serve the purpose of "implying" that Barclay is "listening" to there customers. 

[deltatee]

I've always found this Ring community concept pretty interesting.  I cannot imagine a typical customer being excited about the community.  That said, I have no idea how virbant the Ring community thing really is.

[SouthJamaica]

---

@Anonymous wrote:

---

@SouthJamaica wrote:

---

@AverageJoesCredit wrote:
Wonder how SJ feels, this is his golden egg

---

I think it's a mistake on their part, reaching out to prospective new customers at the expense of taking away some of the card's uniqueness among bank cards.

To me it's like they're just running with the crowd.

But still it has certain pluses:

$3 cash advance fee

no balance transfer fee

13.49% isn't a terrible rate for purchases & BT's, & it's a very good rate for cash advances

---

Time for you to take on the great Simmons Bank Platinum Visa Card with a 7.75% variable Apr and remember they are regular folks located in Pine Bluff Arkansas. Common down off of your soap box now and join the rest of us folks   You have been a strong supporter and I followed your suggestion and got in with Barclays Ring with the 8.5% Apr rate (suppose they will give us a year or two and then neff our rate just like they did to the Barclay Sallie Mae crowd).

---

I'm not saying I wouldn't consider applying for the card, but

1. It's my understanding that far from being 'regular folks', the 'folks' at Simmons Bank are very, very selective about who they will allow to associate with them. I'm sure they would turn their noses up at me. As far as I know their underwriting standards are the toughest, or among the toughest, in the entire credit card universe.

2. The Simmons card has a 3% cash advance fee, 2% foreign transaction fee, and a 4% higher interest rate for cash advances. If I had the card I might use it for balance transfers, but would never use it for cash advances.

3. I don't think Barclays will alter the terms of the Ring for existing customers.