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The Barclaycard CashForward World Mastercard is no longer offered. You can find similar cards on our Best Cash Back Credit Cards page.
BarclayCard is a part of Barclays Retail & Business Banking. While they are based in London, they offer financial services to consumers worldwide. They used to be solely a part of Visa, but have gone on to offer credit cards from MasterCard and American Express as well.
One of their most well known cards is the BarclayCard CashForward World MasterCard. Let’s take a closer look into this card and what it has to offer.
Benefits and Rewards
First, we will take a look at the benefits and rewards that come with being a BarclayCard CashForward World MasterCard cardholder. These days, more and more people are ditching the sky miles credit cards and going for cards that offer cash back. With so many restrictions on how you can use your free sky miles, it just makes sense. With this card, you can earn an unlimited 1.5% cash back on every purchase that you make. When you first open your card, spend $500 within 90 days and you will receive an extra $100 cash rewards bonus as well.
There are many options when it comes to redeeming your cash back rewards. You may choose to have them deposited into your checking or savings account, or you can get it in the form of statement credit or gift cards. Start redeeming once you earn $50 cash back. The good news is that these rewards don’t expire as long as you keep the account open and keep it current. Once you redeem your bonus, earn a 5% redemption bonus to use towards the next bonus redemption.
Along with the cash rewards, you will also enjoy the ability to use your card confidently. They offer $0 Fraud Liability to protect you from unauthorized charges. Each card is also equipped with chip technology, allowing you to securely use your card across the globe. Other benefits include access to your FICO score and alerts that will help you to see when there have been changes to your credit report. All in all, this card is packed full of benefits.
Rates and Fees
Now that we have looked into the perks that come along with the BarclayCard CashForward World MasterCard, it is time to look into the rates and fees. The interest rate is really important because it is what dictates how much you will pay for charging purchases on your card. With this card, there is a zero interest rate introductory period for the first 12 months. After that, there are different levels of APR, based on your overall creditworthiness. Your APR may be either 14.99%, 19.99% or 24.99% on purchases or balance transfers made after the first 12 months.
The APR for cash advances, however, is a bit higher. If you get a cash advance with your card, you will pay an APR of 25.49%. These rates may vary based on the prime rate at the current time. To avoid interest, make sure that you pay the balance in full within 23 days of the billing cycle ending. If your account is charged interest, the minimum amount is $0.50.
We have covered the APR, but now we need to look into the fees that come along with the card. There is no annual fee for the card, which is ideal. Transaction fees that you may see on your bill will come along with balance transfers, cash advances and foreign transactions. $5 or 3% of your balance transfers, $10 or 5% of your cash advances, and 3% of your foreign transactions will be added as a fee for these types of account activity.
There are also penalty fees that you should be aware of. These are, as the name suggests, fees that are charged as a penalty if you do not hold up to your end of the agreement. Late payments and returned payments are both subject to penalty fees of up to $37.
So, what do we think of the BarclayCard CashForward World MasterCard? We actually think it is one of the better cash back rewards cards on the market. Not only does it offer the zero interest for 12 months, but it also gives you 1.5% cash back on all purchases. If you look at most of the other cards out there, they offer a flat 1% cash back. Not many cards give you more back for every dollar that you spend. If you want a card that is going to give you a bigger bang for your buck, you might consider this card from Barclaycard.
Author: Jeff Gitlen
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