The Barclays Market America Platinum MasterCard is a rewards card for the distributors of Market America. The card offers cash back, among other rewards, on purchases you make from their website. It also lets you earn commissions from anywhere else you shop, like restaurants, and grocery stores etc. The card is issued by Barclays Bank Delaware. It is aimed at individuals with a perfect card rating history, specifically distributors, and offers a competitive Annual Percentage Rate.
How Does the Barclays Market America Platinum MasterCard Benefit?
Market America is an online brand store offering numerous products across various categories and of numerous brands. It has made the experience ever easier and convenient with its card offering. Now you can save and earn rewards on any purchase you make through the Barclays Market America Platinum MasterCard. The rewards are not limited to purchases made only through their website on their products and services, but can be earned doing anything like purchasing fuel or vacation tickets. It does not matter what or where you buy it. It just matters you use the card; it really is that simple.
Whom Does It Benefit?
The Barclays Market America Platinum MasterCard is intended only for the distributors of Market America and their families. Furthermore, it is for only those living in the United States and its territories, including Puerto Rico. Applicants must also know that this card is governed by the laws of the state of Delaware.
How Do You Become Eligible?
You are eligible to apply for this Barclays Market America Platinum MasterCard if your credit rating is somewhere between good to perfect. Your chances of approval for this Barclays Market America Platinum MasterCard may increase significantly if your FICO score is closer to or higher than 683. The card will work best in your favor if you are an independent distributor of Market America.
Conditions to Earn Rewards
You should be aware of the following conditions to be able to earn the rewards the Barclays Market America Platinum MasterCard offers:
Balance transfers, credit card fees, convenience checks, and cash advances are not considered as purchases and thus do not earn any rewards.
If you make returns on your account, you will not earn rewards for such transactions.
To be able to receive rewards, your account must remain active and you must have no defaults under card member agreement.
Features of the Barclays America Platinum MasterCard
The Barclays Market America Platinum MasterCard has no annual fee, offers online account management and identity theft protection. It is every easy for distributors and their families to make purchases, earn rewards and cash back, and manage their account with convenience.
It charges a balance transfer fee of 4% and foreign transaction fee of 3%. Balance transfer may take as long as 4 weeks.
Every time you make a purchase using the Barclays Market America Platinum MasterCard, you can earn 1% Incentive Business Volume. After you make an initial purchase or balance transfer using your card, you will receive a onetime bonus award of seventy five points. These bonus points will be awarded at the end of first billing cycle.
There is an introductory 0% Annual Percentage Rate on Balance Transfers and Convenience Checks applicable after account opening and the first six billing cycles. However, it requires that you maintain the level of credit performance and make timely payments.
The APR on purchases is as low as 13.99% or as high as 24.99%, depending on your credit worthiness. The variable APR is determined by adding a margin to the Prime Rate, each billing cycle. The Prime Rate taken will be the highest rate published in the wall street journal in the money rates column on last business day of each month. For cash advances the APR is 25.24%.
One interesting offer that you get with this card is you can avoid paying interest on your purchases. Yes, if you pay the entire balance within the due date there will be no interest charged on purchases. The due date is at least 23 days after close of a billing cycle.
Why Should You Think Twice Before Getting It?
A penalty APR is applicable if you make a late payment which is as high as 30.24%. If penalty applies, you may also lose the 0% introductory APR.
Although there is no annual fee but various transaction fees apply which you should be aware of. For balance transfers, $10 or 4% of the amount of each transfer is applicable, whichever is higher. For the first six billing cycles, $10 or 3% of the amount applies, whichever is greater. Cash advances have a fee of $10 or 5% of the amount, whichever is greater and for foreign transactions 3% of each transaction is charged in US dollars.
For late payments, the charge is up to $35 and the same goes for returned payments. For residents of Iowa at time of account opening the late payment and returned payment fee is up to $15.
If you are charged an interest rate, it will not be less than $2 and $0.5 for residents of Iowa at the time of account opening.
Market America has a pretty interesting offering for its distributors through the Barclays Market America Platinum MasterCard. You get speedy customer service without having to wait in line and the interest rates offered are very competitive compared with the market. You can also get additional cards for your family, which means that every time anyone makes a purchase you can earn 1% IBV.
You can benefit enormously if you are a distributor for Market America but be sure to understand and thoroughly read through the terms and conditions before you apply for the card. The complete information is accessible through their website. It is a one of a kind offer to benefit from. Considering there is no annual fee and you can actually escape interest payments if you maintain a good score and make timely payments, it seems like a done deal to apply for this card. Don’t forget that you must have an excellent score to qualify to receive one.