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

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 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 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

On Barclays' Secure Website

Barclaycard Ring® Mastercard®

On Barclays' Secure Website
  • Enjoy a 0% intro APR for 15 months on balance transfers made within 45 days of account opening. After that, a variable 14.24% APR will apply
  • Low 14.24% variable APR on purchases and cash advances
  • No annual fee
  • No foreign transaction fees
  • International Chip and PIN
  • See Rates & Fees
  • Enjoy a 0% intro APR for 15 months on balance transfers made within 45 days of account opening. After that, a variable 14.24% APR will apply
  • Low 14.24% variable APR on purchases and cash advances
  • No annual fee
  • No foreign transaction fees
  • International Chip and PIN
  • See Rates & Fees
Annual Fee
$0
APR
14.24% Variable
Credit Needed
Good/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% 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®

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.

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

Opinions, analyses, reviews, or recommendations expressed here are the author's alone, and have not been reviewed or endorsed by the issuer. We may be compensated through the issuer's Affiliate Program. For a full list of our advertisers see our disclosure page

* See the online 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 issuer's website.

Info about the following cards: Premier Rewards Gold 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 Amex EveryDay® 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, Starwood Preferred Guest® American Express Luxury Card, Amazon Business American Express Card, and Marriott Bonvoy Brilliant™ American Express® Card has been collected independently by ValuePenguin. The issuer did not provide the details, nor is it responsible for their accuracy.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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.

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 are ValuePenguin's alone and for illustrative purposes only. The estimates are not a guarantee, agreement, or commitment to redemption amounts and may not 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® Card 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).