Barclays is one of the largest and most popular banks in the world. Recently, they unveiled a brand new credit card for U.S. citizens. This credit card is called the Barclaycard Rewards MasterCard. As would be expected this card provides users with a simple, back to the basics style rewards system. This credit card makes usage of points, and can be applied to almost any everyday purchase. These points can be attributed to filling up your car with gas, buying groceries from the store or simply paying your bills. This all in one card is the perfect credit card for those interested in a rewards program.
Taking A Deeper Look: The Barclaycard Rewards MasterCard
This credit card comes in three different versions depending on your credit history and eligibility at sign up. However, all three offer the same rewards and points program on all purchases. The points include: receiving up to two points for every dollar, spent on all groceries that you buy, as well as on utilities. You will also receive one point for anything else that you purchase on your Barclaycard. A major bonus of using this card is that there are no redemption fees that come with using these points. Also, these points will never expire allowing you to build up as many points as you would like.
The Barclaycard Rewards Mastercard enables you to deduct purchases from your card, by applying points to them. This can be a huge benefit in keeping your credit card payment as low as possible. Unlike other cards that may have blackout dates, this Mastercard has none. This means you will be able to apply the points to any flights that you may be booking. Since you can continue to build up points with this card, you could save huge on family vacations and business trips. Along with great ways to use your redeem points, you never have to worry about an annual fee. This can go a long way especially during times when money gets tight.
More Benefits, Than You Can Shake A Stick At
This credit card offers you a bit of financial freedom by offering you no additional fees if you go over the credit limit. This is perfect for those times when emergencies pop up, you can enjoy the benefits of no credit limit. When you first sign up for this credit card you will notice that there is a 0% APR on all purchases for the first years. Imagine an entire year of spending with no additional annual percentage rates. The Barclaycard Rewards Mastercard also gives you 5,000 bonus points on your first purchase. Then another 5000 points after you have spent $750 in 90 days, on all qualified purchases. This can make you eligible to redeem up to $100! Similar to most credit cards you can enjoy 0% fraud protection on your card as well.
Three Rewards Systems: For Different Members
One major aspect of the Barclaycard Rewards Mastercard is that all three versions of the card, all provide similar benefits. The three types of cards are: Platinum, World, and World Elite. Depending on your credit score will determine which card you will have access to. For those with average credit scores(around the upper 600’s) the Platinum card is for you. This card offers you a plethora of benefits including: 2,500 points on first purchase and 0% APR for the very first 9 months. The World card actually helps you boost your credit scores, by reporting to the three credit bureaus every month. Just think within a years time you could significantly raise your credit scores, with the help of this card. This card offers all of the benefits including: 5,000 bonus points on first purchase and the first year 0% APR. Finally for those with excellent credit, this Mastercard offers you all of the bells and whistles. You can earn up to 10,000 bonus points, when you spend $1,000 in the first 3 months. Also, this card enables you to enjoy 0% on APR for the first year. After that you can enjoy a variable offer that lies between 14.99% and 24.99%.
Overall Benefits: Barclaycard Rewards Mastercard
The major benefits of this card is that it has a straightforward points program. There are no hidden processing fees for points usage, so you can use your points at your discretion. Also, there are no limits to the amount of points that you can save up. Blackout dates are non-existent with this card, so traveling by plane is never a problem. The amount of points that a person can save is amazing, including the first purchase(which offers you 5,000 bonus points). With this card you will receive points for each and every purchase that you make with it.
Overall Shortcomings: Barclaycard Rewards Mastercard
Unfortunately in order for you to have access to any of these cards, your credit scores must be high enough. There are also international fees for those that may decide to go out of the country. Most other Banks have done away with these fees, but Barclaycard still has them and charges up to 4%. You can also accumulate late fees of $35 dollars and could have to faces higher percentage APR’s. For a cash advance there is a APR of 25.24% and there may be a penalty of up to 27.24%.
A Retrospective Look at: Barclaycard Rewards MasterCard
The Barclaycard Rewards Mastercard is the perfect card for those that have a history of financial responsibility. This card offers people an option to receive more rewards on everyday purchases and expenses. You can receive double the points, just by simply paying with your credit card. With three different programs with similar benefits, even someone with average credit can benefit from this card. Though this card has some shortcoming( International charges and relatively high APR for cash advances) it still provides some of the best benefits of any credit card.