Never heard of Barclaycard before? Well, you're not alone here in the United States. Although Barclaycard has been around for over 50 years and serves 36 million cardholders worldwide, its brand recognition still isn't that great in America.However, with the launch of its new Barclaycard CashForward™ World MasterCard®, I'm sure Barclaycard hopes to find its way into many more American wallets in 2016. Here's why I think it will.
The Barclaycard CashForward™ World MasterCard®: What You Should Know
As I reviewed the card's terms for my own personal use, here's the five most important things I think you should know about the Barclaycard CashForward™ World MasterCard® before determining if it deserves a place in your wallet:
1.) You will earn 1.5% unlimited cash back on all purchases
2.) You can receive a $100 cash bonus after spending just $500 during the first 90 days
3.) There's a 5% cash rewards bonus when you redeem your rewards, which goes towards your next redemption
4.) You can redeem rewards starting at $50 for a statement credit, bank deposit, or gift cards
5.) There's no annual fee!
The Barclaycard CashForward™ World MasterCard® is a solid 1.5% cash back credit card which also offers a little something extra with its 5% redemption bonus. When you add in the redemption bonus, you're really earning 1.575% cash back. That's above average for a cash back credit card with no annual fee, so it's at least worth considering if you'd like to try out Barclaycard for the first time and take advantage of the $100 sign-up bonus.
The Barclaycard CashForward™ World MasterCard®: What's Not So Great
Here's the three most important things that stood out to me before I applied for the card:
1.) There's a foreign transaction fee of 3%. There are plenty of other credit cards with no foreign transaction fees.
2.) Cash redemption is a minimum of $50. That means you need to spend at least $3,334 before you can redeem rewards for $50 cash back.
3.) There are other cash back credit cards out there that offer 2% cash back, such as the Citi Double Cash credit card.
The Citi Double Cash offers cardholders 1% cash back on your purchases and 1% cash back when you pay off your balance. So, it's works a bit differently, but Citi Double Cash cardholders that pay their balances in full do earn a total of 2% cash back.
Is The Barclaycard CashForward™ World MasterCard® Right For You?If you have great credit, are interested in taking advantage of the $100 sign-up bonus, and need some incentive to actually redeem your credit card rewards from time to time, the Barclaycard CashForward™ World MasterCard® is certainly worth your time and consideration.
I just added one to my credit card portfolio and plan to keep it there for awhile. Since it has no annual fee, why not give Barclaycard a try in 2016? And after you've used the CashForward card for a few months, please come back here and let us know what you think. We look forward to hearing from you!
Barclaycard CashForward™ World MasterCard®
Apply online today for a Barclaycard CashForward™ World MasterCard®. Earn 1.5% cash back, $100 sign-up bonus after spending $500 during the first 90 days, and get a 5% bonus when redeeming rewards. All this for No Annual Fee!