You take that credit card out of your wallet...and hesitate. Does using it put you at the mercy of unscrupulous lending practices or hidden fees? Will you become a victim of fraud, ruining your credit rating for years to come? Although credit cards come with concerns, the good news is that there are laws to protect you as a cardholder;...
|Signing Promotion||Great For: Rewards for spending on gas and groceries|
|Annual Fee||24.99%* Variable|
|Intro APR Promotions||
- Earn 2,500 points, equal to a $25 statement credit, after your first purchase or balance transfer
- 0% Introductory APR for 6 months on purchases and balance transfers
- No annual fee
- Earn 2 points per $1 on gas, grocery, and utility purchases and 1 point per $1 everywhere else
- Use the points you earn like cash to pay for almost any purchases you've made.
- No blackout date, no redemption fees, no limit on the points you can earn and no complicated set up.
- Reports to all 3 major credit bureaus monthly providing you the opportunity to rebuild your credit score
- Complimentary FICO® Scores as a benefit to active cardmembers. Opt-in to have instant and convenient access to FICO® Scores from your Barclaycard online account.
Fair Credit Needed
- Easy approval with fair credit rating
- 0% APR for first six months on both purchases and balance transfers
- No limit on points earned
- 2,500 point bonus after first purchase
- After promotional period, interest rate jumps to 24.99% (variable)
- Users report poor customer service
- During application process, up to three hard inquiries may be made on your credit report
The Simple Dollar’s Review
The Barclaycard® Rewards MasterCard® – Average Credit is a solid card for those who don’t quite have a sky high credit score. The major factor for acceptance of this card is having a relatively low credit utilization ratio. In other words, if you have a decent credit score, but you’ve maxed out on other cards, you’ll likely be declined for this particular Barclaycard.
When you do get approved, you have much to look forward to — a robust points system, in which cardholders receive 2,500 bonus points after their first purchase, one point for every dollar spent on general purchases, and double points for every dollar spent on purchases in categories like gas, groceries, and utilities.
Other advantages of the Barclaycard® Rewards MasterCard® – Average Credit include no blackout dates for their rewards program, meaning you’ll be able to fly or book hotels at any time of the year using the cards points. There are no caps on rewards points, as well as no annual fees.
As with many credit cards offering a 0% introductory APR, the interest rate increases significantly on this card after the promotional period is over — up to 24.99% (variable). As such, if you intend to carry a balance, this card might not be the one for you.
As a parent, you can say it until you're blue in the face: "Money doesn't grow on trees!" But until your teenager or college-aged kid actually has to balance a budget and manage finances on their own, the message might not really sink in. Now, more than ever, it's critical for young people to become money-savvy before they are launched...
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