After initially getting the 7-10 day review message upon submitting the application, I immediately checked the approval status link on Barclaycard's website, and it said "denied." I then called their credit department and spoke with an analyst who verified some information from the application and asked some questions about income and an old charge-off account (that has been paid in the past year). I was then approved. My credit scores are TU 694 FICO (Not Vantage Score), 655 Experian FICO, and 673 Equifax FICO. For comparison purposes, my Vantage scores here on CK are 20-30 points higher (700-710). The only report they pulled was TransUnion. As important with the Ring Card are balances-to-available-credit, and mine are under 5% on my accounts, so I was fairly confident this would weigh in my favor in contrast to my average credit scores. I have 2 new accounts opened in the last month as well, and my TransUnion hard inquiries in the past month just prior to applying were 2 (6 total over 24 months; 4 were from April 2015). Also, my approval odds here on CK were "fair" and when clicking apply I got the pop-up window saying "your odds for approval for this card are low."
ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL
- Balance Transfer Intro APR 0% for 15 Months on balance transfers made within 45 days of account opening
- Balance Transfer Regular APR 13.99%* Variable
- Annual Fee $0
- Purchase Intro APR 0% for 15 Months
- Purchase Regular APR 13.99%* Variable
The Barclaycard Ring™ Mastercard® is a good option for consumers with excellent credit scores who want limited fees and low interest rates.
What to Like
The Barclaycard Ring™ Mastercard® features a 0% intro APR for the first 15 months on purchases. There is no annual fee, balance transfer fee or foreign transaction fee. Cardholders also can get access to extra cash via the Giveback™ program.
Look Out For
Beyond the Giveback™ program, there’s no rewards or cash back here, so it’s worth balancing the other benefits against that drawback.
Most Helpful Positive Review
Most Helpful Negative Review
I had wanted this card primarily for two reasons: The 15 month 0% APR balance transfer offer and the no balance transfer fee. I went onto Barclay's website, double check to ensure the offer is still there, then applied and was approved immediately.
When the card arrived, I went to apply the balance transfer only to discover it didn't exist. I contacted customer service who insisted that I misread the offer until I pointed out that the offer is still visible on their website. They tell me they will create a support case for me. Anyone can probably guess what happens next. I contacted them back after one week asking for an update and they tell me they're still researching, but they'll make a note I called. I asked how long will researching take and they state 7-10 days.
So I contacted them back after two weeks asking for an updated and, literally, the same line is repeated. When I pressed asking why the length and utter lack of any updates, the representative can only respond that they're researching. I ask to close the case figuring it's not worth pursuing anymore...and I'm actually told they need to put in a request and have the department contact me back just to close the case. So whether I'm opening a support case or wanting to end it, it seems I need to wait an indeterminable amount of time for Barclay's department to contact me to do either one. What awful customer service.
Honestly, nothing else about the card is particular notable. It has benefits that are more or less the same as every other credit card, it has its gimmicks that are mostly useless, and it has the same bonus offers (well, when it honors them anyway). Had I known this issue would pop up, I would not have bothered to sign up for the card so I'm rather annoyed at taking the credit hit for something which I now have little use for.
Compare Holders of this Card
Sample Size: 859
Data Created: February 02, 2015
Note: Sample data consists of Credit Karma members who hold this card.
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† Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there's no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.
‡ Average score refers to the arithmetic mean and typical low score to the 5th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from June 2014 through November 2014. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.