topic Re: Barclay Ring Card - Update from someone who got it?? in Credit Cards

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

Creditaddict — Wed, 27 Feb 2013 19:35:59 GMT

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?

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

Anonymous — Thu, 28 Feb 2013 02:45:45 GMT

@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.

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

jritch — Thu, 28 Feb 2013 14:36:14 GMT

@Anonymous 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.

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

Anonymous — Fri, 01 Mar 2013 05:05:16 GMT

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.

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

Anonymous — Fri, 01 Mar 2013 05:21:46 GMT

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.