Re: The offical Barclaycar
d Ring Thread
04-20-2012 04:00 AM
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.
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800
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