Barclaycard Platinum Cashback Plus Card

By: Kate Anderson | Updated: 11th July, 2019.

With the Barclaycard Platinum Cashback Plus Card you are looking at no fees for spending or withdrawing cash abroad, plus the added little extra of 0.25% cashback on everything you spend until 31 August 2023.

Great for: No foreign spending fees and everyday cashback
3 stars question mark

This card has no fee on non-sterling transactions and no fee on cash withdrawals made abroad. Added to that you can earn 0.25% cashback on everything you spend, until 31 August 2023. And there’s no limit on how much cashback you accrue.

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CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • 0.25% cashback on all spending until 31 August 2023
  • No fees for spending abroad
  • No overseas cash withdrawal fee

REPRESENTATIVE EXAMPLE

Representative rate 21.9% APR (variable)
Purchase rate 21.9% p.a. (variable)
Assumed credit limit £1,200

what we like

  • 0.25% cashback on all spending until 31 August 2023
  • No fees for spending abroad
  • No overseas cash withdrawal fee
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    21.9% APR
  • INTRO OFFER:

KEY SCORES:

  • 2/5 Perks
  • 5/5Fees
  • 1/5APR

HIGHLIGHTS

  • 0.25% cashback on all spending until 31 August 2023
  • No fees for spending abroad
  • No overseas cash withdrawal fee

REPRESENTATIVE EXAMPLE

Representative rate 21.9% APR (variable)
Purchase rate 21.9% p.a. (variable)
Assumed credit limit £1,200

The Barclaycard Platinum Cashback Plus Card bottom line

This card has no fee on non-sterling transactions and no fee on cash withdrawals made abroad. Added to that you can earn 0.25% cashback on everything you spend, until 31 August 2023. And there’s no limit on how much cashback you accrue.

Credit Rating Requirement: Good/Excellent

What I like about the Barclaycard Platinum Cashback Plus Card

Cashback offers are rare, and this coupled with no annual fee and no fees for overseas usage means the Barclaycard Platinum Cashback Plus Card is giving other travel credit cards a run for their money.

  • No foreign transaction fee – One of the top things to consider when selecting a credit card to use when you travel is whether you will be charged a fee for spending on purchases abroad. The Barclaycard Platinum Cashback Plus Card has no fee attached to any spending on the card outside the UK until 31 August 2023, as long as the transactions are conducted in the local currency.
  • No overseas cash withdrawal fee – Another element to look at when considering a travel credit card is whether you will be charged for withdrawing cash when on holiday. This card has no fee attached to cash withdrawals made abroad (until 31 August 2023), although once again the provider stipulates that these need to made in the local currency to remain fee free. One thing to note with this card, though, is that any cash withdrawals made in sterling in the UK will be subject to a 2.99% fee (minimum £2.99).
  • Cashback offer – This card offers the added bonus of cashback rewards. With no cap on the amount they can accrue over the specified period, cardholders can earn 0.25% cashback on all purchases until 31 August 2023 – that is four and a half years of cashback rewards on your spending.
  • Interest-free period – The card has the standard 56-day interest-free period which most credit cards carry. It is worth noting, however, that the interest-free period applies both to new purchases and non-sterling cash withdrawals, so you can have a bit of breathing room to pay off your holiday spending once you return home.
  • Other benefits – Being under the Barclaycard umbrella, the Platinum Cashback Plus Card comes with some added benefits. The first benefit is savings on live events through Barclaycard Entertainment. Offers include discounted tickets, access to presales and discounts on food and drink at 02 Academy venues. Most relevant to the travel aspect of this card, there are also support services such as emergency replacement cards and cash advances if your card is stolen when you are abroad.
  • Worth knowing – You cannot apply for this card if you already hold another Barclaycard product.

Why trust me

I worked on the front line of personal-finance best buys for over eight years at one of the world’s largest research companies, Nielsen. I reported daily on the developments of the 2008 financial crisis and beyond, keeping up with the changing financial landscape and providing insights to all the major banks in the UK. I know the key players in the market and the tactics behind how they behave. All of which I will apply to highlight the best deals and give honest reviews to help you in your search.

What could be improved?

The Barclaycard Platinum Cashback Plus Card has the travel elements of the card locked down, but here are a couple of other areas that it could offer more on.

  • UK cash withdrawals – It is great that you will not be charged for using your card abroad, but watch out to avoid charges for using it at home. The card has a 2.99% (min £2.99) fee for cash withdrawals made in the UK.
  • Introductory periods – The card has no introductory interest-free periods. There is the standard 56-day period that most cards carry, and the card does have the added benefit of including transactions made abroad in this, but there are no specific promotional rates for purchases or balance transfers.

How does the Barclaycard Platinum Cashback Plus Card offer stack up?

In terms of travel offers the Barclaycard Platinum Cashback Plus Card is right in the mix, with no fees for spending or withdrawals made in the local currency when you are out of the country. Then you also have the 0.25% cashback offer with a long period in which to earn uncapped rewards. The only area where this card falls short of its rivals is that it does not offer any introductory interest-free period for purchases or balance transfers.

The Barclaycard Platinum Cashback Plus Card credit score

Barclaycard has relatively high eligibility requirements. Applicants must be aged 21 or over (compared with the standard aged 18 or over) and have had a permanent address in the UK for at least three months. They must also not have been declared bankrupt in the past six years, and not have had an individual voluntary arrangement (IVA) or county court judgment (CCJ). Applicants must be able to prove they have at least four years of managing credit and a personal annual income of more than £20,000.

Barclaycard has a ‘check your eligibility’ option on its website which you could use to see whether you would be likely to be accepted before you apply.

How do you apply?

Applications can be made through Barclaycard’s website. You will need to provide address details for the last two years, a phone number and email address, current employment details, information regarding your annual income and your main UK bank account sort code and account number.

Is the Barclaycard Platinum Cashback Plus Card right for you?

If you want a travel card with a little bit extra, then the Barclaycard Platinum Cashback Plus Card could be a good choice. It has what is essential from a travel credit card, in the form of no fees for overseas usage, plus it also has the 0.25% cashback offer. While 0.25% is on the lower end of what you could get from other cashback credit cards, the fact that the card has no annual fee, does not limit how much cashback you can earn over the period, and has no fees for spending or cash withdrawals abroad means it all adds up to a well-rounded package. The only thing to be certain of is that you do not need an introductory interest-free deal for purchases or balance transfers, as this card does not offer these.

See the Best Travel Credit Cards


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