Barclaycard Ring® Mastercard® review: Great for balance transfers and low interest

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In a Nutshell

If you’re trying to pay off a high-interest credit card balance, the Barclaycard Ring® Mastercard® might help you do it.

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Balance transfer credit cards can make life easier for people trying to get out from under credit card debt.

The Barclaycard Ring® Mastercard® can make it especially easy by offering an introductory APR promotion on balance transfers. But the deal may not be as sweet as it seems on the surface.

Read on to learn more about the Barclaycard Ring® Mastercard®, what it offers to cardholders, and what other cards you should consider for your balance transfer needs.


What we like Heads up
APR
  • 0% intro intro APR for 15 months on balance transfers made within 45 days of account opening (variable 13.99% APR on balance transfers after that)

 

  • No intro 0% APR on purchases
  • Intro balance transfer APR not valid on transfers made more than 45 days after you open your account
  • 13.99% variable APR on purchases
Fees and penalties
  • $0 balance transfer fee on transfers made more than 45 days after opening your account, but a fee of See Terms on transfers made within the first 45 days of account opening
  • $0 annual fee
  • No foreign transaction fee
  • You can’t get the introductory 0% intro balance transfer APR promotion and the $0 balance transfer fee
Rewards
  • Profit-sharing program based on account activity and referral count
  • No traditional rewards program

  1. The rundown: Everything we like about the Barclaycard Ring® Mastercard®
  2. Heads up: What you should consider before applying for the Barclaycard Ring® Mastercard®
  3. Do the math: How to get the most out of the Barclaycard Ring® Mastercard®
  4. Bottom line: Is the Barclaycard Ring® Mastercard® right for you?

The rundown: Everything we like about the Barclaycard Ring® Mastercard®

The Barclaycard Ring® Mastercard® has a few key benefits for balance transfers.

  • The intro APR offer for balance transfers could help you eliminate your credit card debt
  • There’s no introductory 0% APR on new purchases you charge to the card, but the variable APR of 13.99% for purchases is still relatively low
  • If you transfer a balance after the initial 45-day transfer period, you’ll pay no balance transfer fee — for balances transferred within those 45 days, there’s a fee of See Terms
From our partner

Barclaycard Ring® Mastercard®

From cardholders in the last year

See Details, Rates & Fees

You can also join the Barclays Ring Community. Benefits include access to discussions about the card, financial health and other topics with other members of the community. You’ll also get a chance to share in a portion of the card’s estimated profits through the Giveback™ program. Your share is based on your account activity and how many account referrals you’ve generated.

Heads up: What you should consider before applying for the Barclaycard Ring® Mastercard®

If you transfer a balance in the first 45 days of opening your account to take advantage of the intro balance transfer APR period, you’ll have to pay a balance transfer fee of See Terms. If you want to avoid the balance transfer fee, you’ll need to transfer the balance after your account has been open for more than 45 days — at which point you’re no longer able to get the intro APR offer for balance transfers.

You should also be careful about swiping this card for new purchases if you haven’t paid off your transferred balance yet. You can be charged interest on your purchases unless you pay them off by the due date. Take note: We found the Barclaycard Ring® Mastercard®’s terms and conditions a little confusing on this issue. If you’re unsure of how much interest you’ll be charged on purchases while carrying a balance transfer on this card, reach out to Barclaycard directly.

Read more: Balance transfer risks and pitfalls

If you plan to transfer a balance and make purchases on your new card, it may be worth looking into cards that offer identical introductory 0% APR promotions on balance transfers and purchases.

Do the math: How to get the most out of the Barclaycard Ring® Mastercard®

Since this card’s main benefit is its intro balance transfer APR offer, you’ll get the most value out of it by transferring a credit card balance and paying it down within the promotional time frame.

But you’ll need to do some math to figure out if you’ll save the most money by transferring the balance before or after the first 45 days.

Transferring a balance within the first 45 days of opening your account gets you the intro balance transfer APR, but if you wait until after then to make that transfer, you’ll get to take advantage of the card’s $0 balance transfer fee. Compare the cost on each to decide which works best for you.


Bottom line: Is the Barclaycard Ring® Mastercard® right for you?

The Barclaycard Ring® Mastercard® has some unique terms. But unless you’re interested in the card’s community benefits, you could get more value with credit cards that also offer rewards, an introductory APR on purchases, and an introductory APR on balance transfers plus no balance transfer fee.

As with any credit card, it’s important to shop around and compare to make sure you’re getting the best deal. Check out the cards we’ve listed along with other balance transfer credit cards to see which one will give you the most value.


Editorial Note: Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors' opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when it’s posted.