Barclaycard Ring Credit Card Review

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Real opinions always: At Seek Capital, our goal is to provide content that helps you make informed financial decisions. All products featured here are from our partners. That said, our business relationships do not affect our evaluations. Opinions are of the writer alone.

From Seek Capital - Best for Balance Transfer

Welcome Offer

0% Introductory APR

For the first 15 months, you can use your card with 0% APR on balance transfers


$0Annual Fee
No annual fee with this card
$0Fraud Liability Protection
This card features zero dollar fraud liability protection, meaning you aren't responsible for unauthorized charges
$0Foreign Transaction Fee
No foreign transaction fees when using this card
$0FICO Credit Score
Free access to your FICO Credit Score, and alerts when your score changes

Barclay Ring

If you're looking for a safe bet as you play the credit card interest game, the Barclays Ring MasterCard is the plastic for you. The introductory offer lets you save hundreds or thousands on interest when you transfer a balance, and the fee-free structure and low APR are gifts that keep on giving.

Rewards Highlights

  • No Annual Fee
  • 0% Introductory APR on Balance Transfers
  • Zero Liability Protection
  • Free FICO Credit Reports

Expert Review

The Pros

  • No Annual Fee
  • 0% Introductory APR on Balance Transfers

The Cons

  • No Rewards

Recommended Credit Profile

Rates & Fees

  • Annual Fee$0
  • Intro Balance Transfer APR0% for 15 months
  • Regular APR14.24%
  • Great ForGroceriesGasRestaurants
  • Regular Purchase APR14.24%
  • Regular Balance Transfer APR14.24%
  • Cash Advance APR14.24%
  • Balance Transfer Fee$5 or 2%
  • Cash Advance Fee$3
  • Foreign Transaction FeeNo

0 Percent APR Introductory Offer

The Barclays Ring MasterCard comes with a lot of nice financial perks, but we think its primary position in your wallet is as a balance transfer card. It comes with a 0 percent APR introductory offer for the first 12 months, which means if you move a balance from an existing card to your Barclays Ring MasterCard within 45 days of opening it, you can save hundreds or even thousands of dollars in interest.

Here's how it works.

Imagine you have an existing credit card with a balance of $4,000 and an interest rate of 21 percent. You could move that $4,000 balance to your Ring MasterCard, and, because the introductory offer is good for the first 12 months, you now have an entire year to pay down the balance before interest starts accruing on it. That's a monthly payment of around $334.

Leave the balance on your existing card with the 21 percent interest and make those same monthly payments and it will take you 14 months to pay off the balance. And you'll pay a total of $676 more to get it done.

If you transfer a balance within the first 45 days of opening the account, you will pay a balance transfer fee of 3 percent of the amount. That means the $4,000 transfer in the example above would cost $120 — still a great deal given the fact that you could save more than $600 in interest. And the Ring MasterCard balance transfer fee isn't high for the industry — many balance transfer cards charge 5 percent.

Continued Low APR

Something that makes this card stand out even more is the low APR available to creditworthy applicants. The card comes with a 13.74 percent variable APR — under industry average — for purchases, cash advances and balances that you transfer after 45 days.

We usually wouldn't talk much about transferring balances after an introductory offer is over, but at 13.74 APR, you could still save money over higher interest cards. In the scenario of a $4,000 balance on a card with a 21 percent interest rate, you'd still save $300 moving it to the Barclay Ring card. Plus, after the first 45 days, you won't pay any balance transfer fee for making such a transaction.

You could move one balance from a high interest card in the first 45 days of holding the Barclays Ring MasterCard, pay that balance off without interest and then move a second balance from another high interest card and pay it down at the lower 13.74 APR.

A Very Lovely Lack of Fees

And you get to do all that financial maneuvering without fees constantly hanging over your head. The Ring MasterCard doesn't have an annual fee, and we love that. We're really not into annual fees at all unless you can justify them because of the sheer rewards values you can rack up with a card — not something you can do on a simple balance transfer card.

The Barclays Ring MasterCard takes lack of fees a step further by not charging foreign transaction fees. That means when you swipe your card outside of the United States (or buy goods from foreign websites), you're not going to pay anything extra. Some banks charge 3 to 5 percent for this convenience, which means $3 to $5 more for every $100 you spend.

Other Benefits of the Barclays Ring MasterCard

Like any good credit card worth its salt today, the Ring MasterCard comes with a $0 fraud liability guarantee. That means if your card or card number is used to make unauthorized charges, you won't be held liable for making good on those payments. Plus, an international chip and PIN keeps your card and account information more secure when you pay at terminals anywhere around the globe.

And if you're using this card to get a handle on debt, you'll probably appreciate that you can opt in and get your FICO score free online through your account. You even get alerts if the score changes and can see updates to your credit status each month.

Overall, we think the Barclays Ring MasterCard is a solid financial management tool that's ideal for anyone looking to crush credit card debt and could use a little help with high interest. And because the post-introductory APR is fairly attractive, this is one you'll probably want to hold in your wallet for a while — at least until a better offer comes along.

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