Charles H. Miller
Barclaycard Rewards MasterCard® is designed to offer rewards to the people with an average credit score. It offers double points on gas, groceries and utility payments; and a single point per dollar spent on all other purchases. The card has no annual fee, and offers a complementary access to the FICO credit score, which should help users improve their credit standing. Here are the details…
Highlights
- Earn 2x points on gas, groceries and utility; 1x points for everything else
- MasterCard shopping and travel benefits
- Free FICO credit score
- 25.24% variable APR
- No annual fee
How It Works?
Earn points: Get 2x points when you buy gas and groceries (excluding Target and Walmart) or when paying for utility. All other purchases earn 1x points.
Redeem points: To a U.S. checking or savings account, statement credits or gift cards, starting at 1,000 points for $10. Points don’t expire as long as your account is open, active, and in good standing.
MasterCard benefits: Depending on the account you end-up with, you can receive MasterCard Platinum, World, or World Elite benefits. These benefits add to your shopping and travel experience.
Free FICO credit score: So you can easily keep an eye on your credit. You can also receive alerts for when your credit score changes.
Credit line increase: After making 5 consecutive payments on time, your account will be reviewed and you may be eligible for a credit line increase.
Costs
- $0 Annual Fee
- 25.24% variable APR
- 3% Balance Transfer Fee (minimum $5)
- 3% Foreign Transaction Fee
At BarclayCard’s secure website
Pros
- Rewards on everyday purchases for people with an average credit score. Items that you spend money the most (gas, groceries and utility) will earn you double points.
- Access to the Free FICO credit score will help you be aware of your credit score and allow you to increase it.
- No annual fee – yet you get to earn rewards. Again, even with an average credit score.
Cons
- High APR means you should pay your balance in full and on time.
- The fact that is comes with a foreign transaction fee makes you want to use a different card when traveling to other countries.
Is This The Card For You?
The Barclaycard Rewards MasterCard® is made for people with an average credit score. It is simple to use, offering double points on the stuff you would be buying anyway — gas, groceries and utility — while all other purchases get you a single point per dollar spent. The card has no annual fee, but comes with a rather high APR, meaning you are best off paying your balance in full and on time.
