The offical Barclaycard Ring Thread

[haulingthescoreup]

Combining lotsa BC Ring threads into one, for the sake of the mods' sanity and members' reading enjoyment

[Hammer23]

Barclays has launched thier new RING card product. Below is the email.

The Wait is Over – Barclaycar​d Ring is now OPEN
Inboxx

Barclaycard Ring BarclaycardRing@barclaycardus.com
4:00 PM (10 minutes ago)

to Barclaycard

 We’re ready for you to start changing the credit card industry.
Thanks for pre-registering for the Barclaycard Ring MasterCard.
Apply Now! 1The APR will vary with the market, based on the Prime Rate. See the Terms and Conditions for all details. 2Offer subject to credit approval. If at the time of your application you do not meet the credit criteria previously established for this offer, or the income you report is insufficient based on your obligations, we may not be able to open an account for you.  You must be a US resident to apply. For information on rates, fees, other costs and benefits associated with the use of this account, please see the Terms and Conditions.  3The Giveback™ program and the profit sharing features are offered at our sole discretion. For more information on the Giveback™ Program, please see the Terms and Conditions. Barclaycard Ring MasterCard is issued by Barclays Bank Delaware, member FDIC PO Box 8801, Wilmington, DE, 19899 If you no longer wish to receive emails from Barclaycard, please send an email to barclaycardring@barclaycardus.com with “Unsubscribe” in the subject line.  If you are an existing Barclaycard customer, you will continue to receive any Account Alerts that have been set up on your account and any email updates about your account. You can access your account settings at www.barclaycardus.com

Barclaycard
www.barclaycardus.com

[Hammer23]

Here is some guidence as to what they are looking for to approve the card:

This is from the application and counts me out :-(

Below are optional questions to help you determine if you are a good fit for the community credit card product. These questions are not designed to pre-screen you for the Barclaycard Ring MasterCard. Instead, the questions are intended to introduce you to some of the key credit granting criteria, and are designed to provide you with information about how we make our credit decisions for this particular product.

Do you know your current credit score?

Credit scores are intended to reflect how you manage your credit. We generally do not approve customers who have a credit score below 680. Although having a credit score above 680 does not guarantee approval, it does increase the likelihood. In addition to the credit score, we consider other factors, such as income and debt, in the decision process. If you would like more details about your credit score, please visit www.myfico.com.  

Have you paid more than 30 days late on any account or filed for bankruptcy?

We do not approve applications when there is a history of late payments for more than 30 days. Consumers make late payments for many reasons, but extending credit to consumers that show a history of making late payments is not considered to be a safe and sound practice by our regulators. Bankruptcy is a process that occurs when a consumer cannot repay the debts owed to creditors. To protect the bank and the consumer, we do not approve consumers whose credit files show an adverse public record such as bankruptcy.  

Do you have 2 or more credit card accounts with high balances?

Consumers with substantial amounts of debt compared to their annual income, pose a greater risk of being unable to pay bills. As a person's debt increases, their payment amounts also increase. If a significant percentage of the income is used to pay debt (i.e. mortgage, credit card and loan balances, etc.), this indicates that the individual may not have the ability to pay any incremental debt. Again, as a way of managing the safety and soundness for consumers, credit is not granted when high debt compared to income is present.

[Hammer23]

Terms and Conditions:

Terms & Conditions

Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases	8.0%  This APR will vary with the market based on the Prime Rate.
APR for Balance Transfers	8.0% This APR will vary with the market based on the Prime Rate.
APR for Cash Advances	8.0% This APR will vary with the market based on the Prime Rate.
How to Avoid Paying Interest on Purchases	Your due date is at least 23 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month.
Minimum Interest Charge	If you are charged interest, the charge will be no less than $0.50.
For Credit Card Tips from the Consumer Financial Protection Bureau	To learn more about factors to consider when applying for or using a credit card, visit the website Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore.

Fees
Annual Fee	$0
Transaction Fees:
Balance Transfer	$0
Cash Advance	$1 for each cash advance
Foreign Transaction	1% of each transaction in U.S. dollars.
Penalty Fees:
Late Payment	Up to $25 (the amount of the fee varies by state, see below)
Over-the-Credit-Line	$0
Returned Payment	Up to $25 (the amount of the fee varies by state, see below)

How We Will Calculate Your Balance: We use a method called "daily balance (including new purchases)". If you are a resident of Iowa at the time the account is opened, we use a method called "average daily balance (including new purchases)".

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[Anonymous]

Is that guidance just for the new card, or for all of their cards?

[Hammer23]

Just for the Ring card. Other cards have different requirements

[Creditaddict]

I'm still a little confused on rewards, earnings, etc. but 8% APR, no Annual Fee, No BT Fee sound pretty good to me.

edit: I'm changing the thread title, and nothing else, on all these merged posts.

I'm not going to post this edit comment on every post.

[navigatethis12]

What I read said that it was best for people who carry a balance. So my guess is that you may get a small percentage of cashback on balance transfers or on the interest you pay. It probably will not be cashback or points on regular purchases.

[Creditaddict]

The "Guidance Approval" I call it BS!

We saw this with the "Black Card" also with Barclay... they said only about what was it 5% of the country would be approved for it but then the truth started coming out in the blogs about people getting approved for $500 and in and around there.

Credit Department is already closed so I can't find out but CS said I can't product change my Apple Card but he didn't know why and he certainly didn't go looking, but I see the other post a few months back about leaving AirTran for a rewards MC or something.

[logan_720]

I was thinking about it, it would be a fine replacement for for Capital One, which I need badly to get rid of. I was just waiting to see who got approved, and what they were approved with...