Barclaycard Ring® Credit Card
Main Credit Card Features
MasterCard is one of the U.S. and world’s most widely accessed credit card networks. The quality of benefits on your MasterCard is dependent on the level of card you own. Lowest level cardholders receive the most basic benefits. Mid-range cardholders have access to the World MasterCard®. The best benefits are given to the World Elite MasterCard® users.
This card provides an attractive APR rate if you transfer your balances from other credit cards or even loans. You can potentially save money on interest by moving your balance. This can get tricky, and you need to keep a few things to keep in mind:
- Take into account the balance transfer fee
- Understand that your credit score gets impacted everytime you apply for a new credit card, you won’t be able to use a balance transfer card every few months
- The new credit card might not have enough of credit limit to cover all of your existing high-interest debt
- You are still required to make minimum payments
- It is problematic to use the card for daily transactions due to how your monthly payments apply to different principals
You can use our Balance Transfer Calculator to estimate interest savings on acting on the offer.
No annual fee credit card is great as a backup credit card as you don’t need to pay to maintain it. You might need a backup credit card if your primary one got lost or stolen. Another benefit of no annual fee credit card is that you can improve your credit to debt ratio if you don’t use is consistently. Another to consider this card if you are looking for a specific perk.