@elim wrote:
It was announced 7 hrs ago on Ring community... The very long post says (without quoting)... They ran a 0% trial offer test last year that boosted new accounts 138%. In order to bring in a larger number of accounts, they will host this 0% offer and offset it's costs with the higher APR (and add to give-back). It looks permanent.
Barclay is still pretty transparent when it comes to Ring card.
The full verbiage can be found at Ring Community / Big Print Blog / Barclaycard Ring: New Product Description (if you're a current card holder)
Here's the best part (and is a quote)...
"Existing cardmembers not affected by new product changes:
All current Barclaycard Ring cardmembers will keep their existing variable APR. A majority of you have an APR of Prime + 4.75% (currently 8.5%). Those of you who applied through a few of our previous marketing tests may have variable APRs that are currently 12.25% or 14.25% .
Let me repeat that all existing Ring variable APRs will not change as a result of this product change."
I doubt that's going to be their permanent stance, but we'll see. I can get an easier approval, better CLI's, lower APR, no fear of AA, and 21 months on BT's with Discover.
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.
