ring

Barclays Ring Card Review

Who This Card Is For

  • No annual fee and good for long-term holding, with low cash advance fees and low-interest, no-fee Balance Transfers

Key Features

  • Sign-up bonus: None
  • No rewards on purchases
  • No Balance Transfer fee
  • Cash Advance fee is $3 per transaction
  • All APRs are 8.75%
  • No annual fee

Highlights

  • Free monthly FICO score: You can keep track of your credit score. For more details, see: Comparison of Free Credit Scores
  • An excellent card for Balance Transfers: This card has consistently had no Balance Transfer fee, so you can transfer balances from other cards at any time. On top of that, the Balance Transfer APR is 8.75%, much lower than many other credit cards. It is well suited for carrying a balance here to reduce interest costs. For more details, see: Introduction to Balance Transfer
  • An excellent card for Cash Advances: This card charges a flat $3 each time you take a cash advance, no matter how much you withdraw. That is better than the traditional 3% fee charged by most credit cards. In addition, the APR is also 8.75%, much lower than the 20%+ on many other cards. For more details, see: Introduction to Cash Advance

Drawbacks

  • No sign-up bonus, and no rewards on spending either

My Take

If you often run into short-term cash flow problems, this card can work well as a long-term credit card for balance transfers. It also has some advantages for cash advances. Holding this card long term can save you quite a bit on BT and cash advance fees. One thing to keep in mind is that this card does not earn rewards on purchases, so you probably should not use it for everyday spending. Just use it for BT and CA.

Personally, I have not applied for this card because I have not had that kind of need so far.

Application

Application Link

None