The offical Barclaycard Ring Thread

[Anonymous]

---

@Anonymous wrote:

I thought about applying for the Ring but am a bit concerned about how dynamic the T&C are. The 8% starting rate is great but it seems like there will be a lot of tweaking once things get underway. Majority may vote for a higher APR in exchange for more rewards, etc. Also the "transparent" profit sharing feature is lost on me. I can't find any info on how they will actually calculate this and wonder if it even amounts to 1% of spending on the card. I guess I'm a bit boring and prefer to stick to traditional cards where I know what the T&C will be for the forseeable future.

---

That's interesting, I didn't think of it that way.  This card would really be of no use to me if the rate goes up above say 10%.

[clocktick]

---

@Anonymous wrote:

I thought about applying for the Ring but am a bit concerned about how dynamic the T&C are. The 8% starting rate is great but it seems like there will be a lot of tweaking once things get underway. Majority may vote for a higher APR in exchange for more rewards, etc. Also the "transparent" profit sharing feature is lost on me. I can't find any info on how they will actually calculate this and wonder if it even amounts to 1% of spending on the card. I guess I'm a bit boring and prefer to stick to traditional cards where I know what the T&C will be for the forseeable future.

---

That's the thing - any card can change their terms at any time.    All they have to do is notify you.  I doubt the Ring will increase the APR since that's one of the main things they're advertising.  If people "voted" for better rewards, what would make this card any different from many others out there?  At the same time, I understand your apprehension for such a new card.  It will be interesting to see how people like it after a year or so.

[Smug]

I doubt they will change the APR it their main selling point, I am sure other things will change with votes.

[SanityKills]

Approved with CL of $1500.  Kept my $1300 limit on the Apple card.  I have no problem with this in that it's my last card and going into Garden mode for the next few years.

I called in the app but that didn't make any difference since I could have done everything online much quicker.  Right after I hung up with her (she didn't tell me I was denied--just gave me the 30 day routine) I called the recon number. Answered the usual questions and was approved.

Got a lecture about them wanting to see some 6 - 12 month history on my Apple card before raising my limit (which I didn't ask for anyway).

I did preface my phone app by asking if they would have issue with an existing new card with them and they stated that they didn't (but I don't know how much a CSR would know about that).  I got the impression with her usage of the word "them" and "they" that Barclaycard utilizes a vendor to take their phone apps.

That's it.  I'm done! Wheww!

Lay low... lay low....

[Anonymous]

---

@SanityKills wrote:

Approved with CL of $1500.  Kept my $1300 limit on the Apple card.  I have no problem with this in that it's my last card and going into Garden mode for the next few years.

I called in the app but that didn't make any difference since I could have done everything online much quicker.  Right after I hung up with her (she didn't tell me I was denied--just gave me the 30 day routine) I called the recon number. Answered the usual questions and was approved.

Got a lecture about them wanting to see some 6 - 12 month history on my Apple card before raising my limit (which I didn't ask for anyway).

I did preface my phone app by asking if they would have issue with an existing new card with them and they stated that they didn't (but I don't know how much a CSR would know about that).  I got the impression with her usage of the word "them" and "they" that Barclaycard utilizes a vendor to take their phone apps.

That's it.  I'm done! Wheww!

Lay low... lay low....

---

Congrats! 

[alovingmommyof3]

Darn, I just stumbled upon this and can't apply becuase of a 8.5 year old bk.  Crud.  I am a student in a social media marketing class and we learn about social business.  This seems to definately fit what we learn in class so I want to try it out to get experience with a credit card social business.

Are people really active in the community?

[SanityKills]

Not really, that I can see.  I only see about half a dozen people in the "forums" but I'm guessing that people are probably waiting on the cards to arrive to register first timer accounts and don't know it exists otherwise?  (I have an existing Apple financing card so I already have access.)

If I recall correctly I've seen people with BK's getting approved on creditboards.

So far I haven't seen anyone post that they got rejected (aside from having to recon).

[bichonmom]

Just read the whole thread. It seems like this would be a nice card to have as a backup.

How have people done who have other Barclay's cards? I read a couple of posts -- it seems like at least one person was declined because they had purchased a computer w/0% on Apple. I bought my iPad w/0% in November.

Also, wondering about how long you should have an existing Barclay's card before apping/being approved for this one. I believe I had read previously (not having to do w/the Ring) that Barclay's required at least 6 mos w/current Barclay's card before being approved for a new Barclay's card. That would also be consistent w/the talk on here about not getting ANY new CCs for at least 6 mos after getting Barclays to prevent AA from them.

Any thoughts? Any one get the Ring w/ a Barclay's under 6 mos old?

Thanks!

[SanityKills]

I got an Apple Barclaycard on 12/27/2011.  I prefaced my Ring app by calling customer service (their vendor who takes phone apps which I suspect isn't really Barclaycard) and asking if it mattered that I got a card 4 months ago.  They said it didn't. They apparently care about payment history and any high balances.

This was confirmed by doing a recon, getting a lecture saying they won't raise any limits on my existing Apple finance card (which I didn't care about anyway) until they'd seen 6-12 months of decent payment history.  While he gave me the slap on the hand he gave me the ring at a higher CL of $1500 compared to my existing Apple CL of $1300 on my Apple finance card.

I was pretty concerned about apping. I've read the horror stories.  I even apped a week ago for the Rewards card (and didn't recon out of fear) and have 4 new accounts since I apped for my Apple card and thought I was going to get axed for all my new lines of credit.  So far I haven't seen anyone denied (recon permitting) and the forum in the account seems pretty limited right now. I'd pretty much count on an initial denial if you're doing anything with credit though.  It's all in the recon.

It seems they want to circulate this card so it might be a good idea to app early in the game but I'm no expert analyst by any means.

[webhopper]

Congrats on your approval     Seems like social media is the wave of the future haha