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 13.49%* Variable
- Annual Fee $0
- Purchase Intro APR 0% for 15 Months
- Purchase Regular APR 13.49%* 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've had this card for nearly two years, paid in full, or paid down to 25-35% util before statements cut, used for $1 fee cash advances for buying items on CL without going into town to a real bank. They cut my credit line from 2000 to 1300 when I checked to see how much I needed to pay to get down bellow 30% a few weeks before statement date. I have about 49K worth of CC without any new ones in the past 6 months and only 4 inquires in TU in the past year.
Barclay bank doesn't care if you make large payments and are responsible. Won't restore credit line either. Don't trust them! Go with Capital one, Chase, Amex, or Discover instead! Sure that $1 fee and 8% is tempting, but don't risk it with the ring of fire card!
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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See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the provider's website.
† 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.