Barclaycard Rewards credit card | Standard Evening

Our verdict

If you want to convert simple credit card spending into cash, this is one card that should definitely be on the shortlist. In addition, there is no annual fee. Barclaycard’s Rewards card also includes some great features for use abroad, making it a card that appeals to regular travelers.

TAEG representative: 22.9% APR (variable).

Advantages

  • Simple repayment rate
  • No annual fee
  • No transaction fees other than pound sterling
  • 4 free Apple subscriptions up to 5 months

The inconvenients

  • Better cashback rates available elsewhere
  • Relatively high APR
  • Minimum income required
  • No 0% period on balance transfers or purchases
  • Fees payable on balance transfers

Main characteristics

  • 0.25% discount on purchases
  • Purchases made abroad are free (as long as you pay in local currency)
  • Free cash withdrawals at home and abroad (provided they are fully refunded)
  • Discounts available on live events

Awards

Quite rare among credit cards in that it is a product that earns 0.25% cashback when you shop with it. The money is credited annually to your statement, or at your request.

You will only earn cashback on new purchases. Transactions such as balance transfers, money transfers, cash withdrawals or the purchase of currency are not included in the count.

There are other perks through Barclaycard Entertainment, however, including access to savings and discounts on certain live events. New cardholders are entitled to a welcome bonus of four free Apple subscriptions for up to five months.

Charges

There is no annual fee to pay on the Barclaycard Rewards card. Note, however, that there is also no interest-free introductory window for purchases. This means that new purchases are billed immediately at a representative rate of 22.9% APR (variable).

However, the card comes with a 56-day interest-free spending credit. So, as long as you clear your balance in full (and on time) each month, you won’t owe an extra penny of interest.

When it comes to balance transfers, this card does not come with a 0% introductory offer window.

This means that any existing balances transferred to this card will also be charged at a representative rate of 22.9% APR (variable). Customers find out what balance transfer fees will be charged to them upon accepting the card. This amount will depend on the credit rating of the applicant.

Late monthly repayments incur a charge of £ 12. The implementation of an automatic debit for reimbursements makes it possible to never be penalized by late payment fees.

Of potential interest to travelers, this card does not charge a transaction fee for making purchases (or even withdrawing money) when the user is abroad, provided the transaction is made in an local currency. There is also no interest on cash withdrawals made abroad, as long as the balance is fully cleared.

protection

As with any credit card, customers are protected under Section 75 of the Consumer Credit Act.

This financial support applies to purchases of an amount between £ 100 and £ 30,000. Even if you only pay part of the purchase with your plastic (like a deposit), you get protection for the full cost of the good or service involved.

Eligibility

The Barclaycard Rewards credit card will be an attractive option for many shoppers and travelers, meaning applicants with the healthiest credit scores are the most likely to be accepted.

To be eligible, you must be at least 21 years old and have at least four years of experience in credit management. Applicants should also be able to prove that they made their payments on time.

Use free eligibility checkers before officially applying for this card. This will allow you to quickly find out the likelihood of being accepted, but without affecting your credit rating in the process.

Before registering

It is important to make careful use of this credit card. If you don’t pay off a balance in full, it likely means that the interest you will be charged will outweigh the rewards you will earn.

Prospective customers should also exercise some financial discipline to ensure they make their minimum monthly plastic repayment (the greater of £ 5 or 3.25% of your balance). Failure to do so means the risk of having its benefits withdrawn.

Users of this card overseas should keep in mind that while the commonly charged overseas transaction fees do not apply, this is only the case when you choose to pay for your transaction within. appropriate local currency. Payment in pounds sterling may incur charges.

Suitable for me?

If you are looking to be rewarded with cash back rewards on transactions and also have a disciplined approach to managing your credit cards, then this product might be ideal for you. The Barclaycard Rewards credit card is also beneficial for overseas travelers, keeping the above caveat in mind about paying for goods in local currency abroad.

Other options?

Rival cards may offer more generous cash back levels. But, at the same time, they can also impose an annual fee or more severe restrictions for use abroad. It is about weighing all the variables relevant to the use of your card and your spending habits.

For those looking to transfer existing credit card debt, it’s probably worth looking elsewhere for a card with an interest-free balance transfer offer. The same goes for anyone considering immediate new purchases on their plastic. With this card, there is no 0% introductory offer period.

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