Barclaycard Credit Cards
As part of the Barclays Group, Barclaycard is one of the main high street credit card providers in the UK. The bank’s roots go back to 1690, though the card arm was set up in 1966. The card division looked to make payments more secure and convenient than cash and cheques.
In the present day, Barclaycard is still a dominant player in the market and often crops up on the best buy tables. Its card portfolio ranges from cashback cards to balance transfer cards, all with the customer support of an established brand behind it.
Barclaycard cards offer more of a full customer service package than some other providers, with extras such as Barclaycard Entertainment often included as standard. The brand also prides itself on payment innovation, so you can expect it to be at the forefront of any future digital payment developments.
And while it mainly focuses on borrowers with a good or excellent credit score, it also has an award-winning credit rebuilder option which looks to help those with a poor credit history improve their score.
What does Barclaycard do well?
Barclaycard is not only a well-established high street card provider, but it also provides competitive offers. Not satisfied with offering just one 0% offer, it is one of the few providers that has a dual introductory period credit card. Here you will find 0% interest on balance transfers and 0% interest on purchases. It also has a balance transfer fee which is lower than the market average, which puts it in a competitive position.
Account management is also a key element of the full Barclaycard package. You can manage your account online or through the Barclaycard app, with digital statements as standard. Most cards also give cardholders access to Barclaycard Entertainment. This feature offers discounts, exclusive access and perks at over 3,500 live events across the country each year. While this may not be the sole reason to choose a credit card, it can be a welcome perk, especially if you’re a fan of live events.
Finally, in a market where cashback offers are few and far between, Barclaycard has a card which offers a 0.25% cashback yield on everyday spend. While some borrowers may be happier with a reward point system, some prefer a more tangible perk in the form of cashback.
Where does Barclaycard fall down?
Yes, Barclaycard offers interest-free balance transfer offers, but you need to watch out for the transfer window. It is shorter than the market standard, meaning that you need to make sure you make your transfer in time to get the most out of the 0% offer.
Barclaycard also has quite a high eligibility criteria compared to other providers. With the exception of its credit building card, which is designed for those with a poor credit history, the provider requires you to be aged 21 or over, have an income of more than £20,000 per annum and have at least four years of managing credit. This is alongside having a good or excellent credit score. You will need to tick all the boxes to be in with a chance of achieving those headline rates.
Lastly, while Barclaycard may have dipped its toe in the reward card pool with a cashback offer, it hasn’t fully committed to any sort of reward point scheme. That’s not to say every credit card provider needs to have a rewards scheme, but it does mean that card shoppers have to choose between earning rewards and achieving a long introductory offer if they want to go with Barclaycard.
What will you find in Barclaycard’s card portfolio?
If you are after cards that can offer you a decent interest-free period on both balance transfers and purchases, then Barclaycard has what you are looking for. While the interest-free periods on both offers don’t particularly stand out, the combination makes it a solid choice for your interest-free borrowing needs.
Meanwhile, with Barclaycard’s portfolio you will also find that rare credit card that actually offers cashback. And as Barclaycard credit cards have no annual fees, you won’t be faced with any sort of ongoing cost. Which means that you can make the most of the reward on offer.
What do you need to remember?
Like other credit cards with promotional rates, you will need to make your minimum payments in order to retain your interest-free offer on your Barclaycard credit card. What you may also find is that offers are only available to new customers. And even then applications are subject to status; so you may be offered a different credit limit, representative APR, purchase rate or promotional balance transfer period, depending on your credit history and individual circumstances.
How to apply for a Barclaycard
You can apply online through the Barclaycard website. You have the option to check your eligibility first in order to see whether you are likely to be accepted. This is a ‘soft search’ and won’t affect your credit score.
If you go ahead with the full application, you will need to provide your personal details, employment details, income information and a good idea of your monthly outgoings. As mentioned previously, for most cards in the Barclaycard portfolio applicants are required to be aged 21 or over, have a good or excellent credit score, have at least four years’ experience of managing credit and a personal income of more than £20,000 per annum.
