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Barclaycard Ring® Mastercard®: A Worthwhile Balance Transfer Card?

Barclaycard Ring® Mastercard®
This card is not available through ValuePenguin.
Barclaycard Ring® Mastercard®
This card is not available through ValuePenguin.

Barclaycard Ring® Mastercard®: A Worthwhile Balance Transfer Card?

One of the best low interest credit cards, that also can be a big money saver through balance transfers.
Editor's Rating: 4.5/5.0
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Editor's Rating

{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

4.5/5.0

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author's alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication. This site may be compensated through a credit card partnership.

The information related to the Barclaycard Ring® Mastercard® has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.  

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%.

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%. This is below the average APR in the United States and is one of the most competitive offers.

Good For…Bad For…
Transferring balancesIndividuals interested in earning rewards
Anyone who needs to carry a balancePeople 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

Barclaycard Ring® Mastercard®
This card is not available through ValuePenguin.
Barclaycard Ring® Mastercard®
This card is not available through ValuePenguin.

Barclaycard Ring® Mastercard®

Barclaycard Ring® Mastercard®
This card is not available through ValuePenguin.
Barclaycard Ring® Mastercard®
This card is not available through ValuePenguin.
Annual Fee
No Annual Fee
Regular APR
14.24%
Credit Needed
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Excellent
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

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% 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®

Chase Slate®
This card is not available through ValuePenguin.
Chase Slate®
This card is not available through ValuePenguin.

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.

The information related to the Chase Slate® has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.  

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.

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Comments and Questions

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Info about the following cards: American Express® Gold Card, Delta Reserve® Credit Card from American Express, Hilton Honors Surpass® Credit Card, American Express® Blue Sky, American Express® Green Card, The Amex EveryDay® Preferred Credit Card from American Express, The Plenti® Credit Card from Amex, Blue from American Express®, Platinum Card® from American Express Exclusively for Mercedes-Benz, Bluebird, Centurion® Card from American Express, Hilton Honors American Express Aspire Card, and Starwood Preferred Guest® American Express Luxury Card has been collected independently by ValuePenguin. The issuer did not provide the details, nor is it responsible for their accuracy.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).