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. One of its areas of focus is 0% balance transfer credit cards. It has several in its portfolio, and the introductory periods are often some of the longest on the market. While there isn’t much of a focus on 0% purchase offers, these can often be found alongside the balance transfer offers or as part of an all-rounder card.
Part and parcel with that, Barclaycard not only offers competitive interest-free introductory period on balance transfers, but it also has a balance transfer fee which is lower than the market average and it also offers fee-free options. In other words, Barclaycard generally has all the bases covered when it comes to balance transfers.
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 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 some of the longest interest-free introductory periods on balance transfers, 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 balance transfer offers, then you can have your pick with Barclaycard. You can look for a long 0% period, a fee-free option, or an all-rounder card which offers both balance transfers and purchases. What you will find with Barclaycard is an array of options likely to suit your balance transfer needs.
While its balance transfer offerings are strong, its 0% purchases offers come more as a package deal. You can benefit from 0% on purchases as part of a balance transfer card but the provider doesn’t really have a purchases card which can stand on its own two feet.
What you won’t find are annual fees, which is a bonus. Even if you choose the cashback option, you won’t be faced with any sort of ongoing cost, which means that you can make the most of the reward on offer.
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.
