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Barclaycard Rewards MasterCard (Good Credit) Review

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Earn a 2,500 point bonus after your first purchase, no minimum purchase amount required.

The Barclay Rewards MasterCard - Good Credit is For: People with good credit, looking for rewards card with introductory APR.

Credit Rating Required: Good

Pros

  • low introductory rate
  • points bonus with first purchase
  • no annual fee

Cons

  • high APR
  • cashback bonus is only a statement credit

Rewards

  • 2 points per $1 on gas, groceries, and utilities
  • 1 point per $1 on all other purchases
  • 2,500 bonus points after the first purchase or balance transfer

Pricing Details

  • Promotional APR: 0% on purchases and balance transfers for 6 months
  • Regular Purchases and Balance Transfer APR: 24.99%
  • Cash Advance APR: 25.24%
  • Penalty APR: 27.24% (indefinitely)
  • Annual Fee: $0
  • Over the Limit Fee: $0
  • Balance Transfer Fee: $10 or 4% of the transfer ($10 or 3% during introductory period)
  • Cash Advance Fee: $10 or 5% of the cash advance (purchasing money orders, foreign purchases, and other cash equivalents will be treated as a cash advance)
  • Foreign Transaction Fee: 3% of the transaction in US dollars
  • Grace Period: 23 days

Detailed Card Review

The Barclaycard Rewards Mastercard for Good Credit is almost just like the version for excellent credit. The primary drawback with this version is that you the introductory APR only applies for 6 months instead of 15 months. The "good" version of the Barclay Rewards MasterCard also has a much higher post-promotional APR: 24.99% on both purchases and balance transfers.

You earn points on your purchases: one point on most purchases and two points on gas, groceries, and utilities. To be eligible for double points, gas and groceries should come from from a gas station and grocery store, respectively, and not a warehouse like Sam’s or Costco.

The card has a great bonus: 2,500 points after you make your first purchase or balance transfer. Assuming point redemptions are the same as the excellent version of the card, a 2,500 point bonus is worth $25 cashback (via statement credit).

You can redeem your points for flights, shopping, dining, and more. There are no blackout dates and points don’t expire. But you do need to redeem a minimum of 1,000 points at a time (the excellent version requires you to redeem a minimum of 2,500). Your points are forfeited if you miss the minimum payment, you become delinquent on your account, or if your card is cancelled.

Recommendation

The Barclaycard Rewards MasterCard for good credit isn't as great as the excellent credit version of the card, but it's still a good offer.

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Last reviewed November 8, 2013. Credit card terms and sign-up bonuses are subject to change from the time of this review.

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