If you are planning to travel, the Barclaycard Rewards credit card is a suitable option to consider. This is because the card does not charge any exchange fees for purchases made in other currencies. In addition, every purchase made with the card yields 0.25% cashback.
However, it is important to note that the rewards offered by the card may not be as impressive as other available options. To learn more about the rewards program and how to use the card abroad, read our comprehensive review.
One of the most popular credit cards on the market is the Barclaycard Rewards card. This card is unique in that it does not impose exchange fees on transactions made in currencies other than the British pound.
Additionally, it offers cash rewards, making it an intriguing option for anyone looking for a travel and rewards card. It is worth examining how the rewards program compares to others and how it works when used abroad.
Do the incentives offer a satisfactory return?
If you have a card, you are rewarded with 0.25% cashback on every purchase you make. However, this reward rate pales in comparison to the superior rewards offered by the best UK credit cards. There are even free cards available that pay double or more in reward fees – however, most of these cards are not suitable for use abroad as they charge unfavorable exchange rates.
For new cardholders, there’s an added benefit of getting up to five months of Apple Music, Apple TV+, Apple News+ and Apple Arcade for free, although it becomes a paid subscription after the initial period.
The primary features
Daily purchases will net you a 0.25% cashback.
If you choose to pay in local currency, there will be no charge for purchases made abroad.
No fees are charged for cash withdrawals, whether in the country or abroad, as long as the payment is fully settled.
There are no offers for introductory purchases or balance transfers available.
Live events can be watched at a reduced price thanks to the discounts available.
Rewards
This credit card is aptly named because it primarily functions as a rewards card, offering a 0.25% cashback incentive when used for purchases. The cashback amount can be credited to your statement once a year or upon request.
While you will get cash back on new transactions, it’s important to note that balance transfers, money transfers, cash withdrawals, and currency purchases do not qualify for any rewards.
Barclaycard Entertainment is offering additional benefits such as discounts and savings on select live events. Additionally, individuals who sign up for the card will receive a welcome bonus of five months of free Apple membership.
For more information, visit the Barclaycard website.
Charges
This direct cashback offer requires no annual fee. However, it is important to note that new purchases made with the card will be subject to a representative interest rate of 25.9% APR (variable) due to the absence of an interest-free window.
The benefit of this card is that it provides a generous 56-day window of interest-free credit towards your expenses. So, if you manage to pay off your entire balance every month in a timely manner, you won’t be charged any interest fees.
As far as balance transfers go, it’s worth noting that there is no 0% window available. As a result, any past balances carried over will incur a representative APR of 25.9% (variable). The exact balance transfer fee charged upon acceptance depends on an individual’s credit score.
To avoid an additional £12 charge, it’s imperative to pay your monthly payment on time. This charge can be avoided by establishing a direct debit that will guarantee immediate payment.
Notably, the card does not charge any fees for transactions made abroad, including cash withdrawals. Also, you can withdraw money abroad without incurring interest fees, as long as you pay off your balance in full.
See too:
All about the Tesco All Round Credit Card
Protection
Similar to other credit cards, the Barclaycard Rewards credit card offers protection under Section 75 of the Consumer Credit Act.
If a purchase costs more than £100 and less than or equal to £30,000, there is a safety net to protect you. It is important to note that even if only a portion of the purchase is paid by credit card, such as a deposit, the entire cost is still covered by protection.
Am I qualified?
The Barclaycard Rewards credit card is a highly attractive offer, but it is typically only available to individuals with a strong credit history.
To qualify for this position, you must meet certain requirements. Firstly, you must have reached the age of 21 or older. Second, you must have at least four years of credit management experience. Lastly, you must have a history of making timely payments.
Before submitting a formal application for this card, it would be helpful to utilize our free eligibility checker. This tool will provide you with an immediate answer and will not affect your credit score. By doing so, you will gain information about your likelihood of being approved for this card.