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The Barclaycard Ring® Mastercard® is a good long-term balance transfer credit card. If you ever find yourself carrying a balance on another card, you'll likely save by moving it over to this card instead of paying it off on your original account. That's because the Barclaycard Ring® Mastercard® offers a relatively low ongoing purchase APR of 14.24% Variable.
Review: Is the Barclaycard Ring® Mastercard® a Money Saver?
The Barclaycard Ring® Mastercard® is one of the best low interest credit card offers today. The card has a fairly low ongoing APR of 14.24% Variable. This is below the average APR in the United States and is one of the most competitive offers.
|Good For…||Bad For…|
|Transferring balances||Individuals interested in earning rewards|
|Anyone who needs to carry a balance||People with no outstanding credit card debt|
This card’s relatively low purchase APR is not fixed, and (like most credit card interest rates) it varies with the Prime Rate.
Bottom Line: There are many circumstances in which transferring your balance to the Barclaycard Ring® Mastercard® will be a good deal. The math behind when exactly that happens can be complex, so we recommend using our interactive tool to simplify the process.
Barclaycard Ring® Mastercard® Benefits & Features
The Barclaycard Ring® Mastercard® has a 0% intro APR for 15 months on balance transfers made within 45 days of account opening. After that, a 14.24% Variable APR will apply. Balance transfers that post to the account within 45 days of account opening are assessed a fee of $5 or 2% of the amount of the transfer, whichever is greater. However, balances that are moved over after 45 days of account opening are not assessed a fee.
Depending on the amount of debt you have, and how long it takes to pay it down, this card’s offer may be better or worse than other balance transfer cards. The exact calculations may get messy, so we recommend using a online calculator to help you figure out what the best card is for your specific situation.
How Does the Barclaycard Ring® Mastercard® Compare to Other Credit Cards?
The best way to get a sense of whether the Barclaycard Ring® Mastercard® is of any value to you is to see how it compares to your other options. Below we profile some similar credit cards and how the Barclaycard Ring® Mastercard® stacks up to each.
Barclaycard Ring® Mastercard® vs Chase Slate®
The Chase Slate® is one of the best balance transfer credit cards. It comes with an introductory ‘$0 balance transfer fee’ offer, on balances transferred within the first 60 days of account opening. This is generally a better deal than what the Barclaycard Ring® Mastercard® currently offers. That's because the Barclaycard Ring® Mastercard® will charge you a fee of $5 or 2% of the amount of each transfer (whichever is greater) for balance transfers made within 45 days of account opening.
Barclaycard Ring® Mastercard® vs Citi Simplicity® Card
The Citi Simplicity® Card offers one of the longest ‘0% intro APR’ periods around – a whopping 21 months on balance transfers. Cardholders must pay a 5% transfer fee (or $5, whichever is greater). If it will take you close to the full 21 months to pay off your outstanding debt, it will be well worth this transfer fee. As is the case with other typical balance transfer cards, the Citi Simplicity® Card’s usability becomes questionable once the original promotional period runs out and the standard APR kicks in (16.24% - 26.24%* (Variable)). While we don’t recommend any credit card user every carry a balance month-to-month, we recognize that in certain situations, consumers are left with little choice. That is when a low-interest credit card like the Barclaycard Ring® Mastercard® becomes a great asset.