The Barclay Rewards MasterCard - Good Credit is For: People with good credit, looking for rewards card with introductory APR.
Credit Rating Required: Good
- low introductory rate
- points bonus with first purchase
- no annual fee
- high APR
- cashback bonus is only a statement credit
Rewards and Pricing
- 2 point per $1 on gas, groceries, and utilities
- 1 point per $1 on all other purchases
- 2500 bonus points after the first purchase or balance transfer
- Promotional APR: 0% on purchases and balance transfers for 6 months
- 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: 2500 points after you make your first purchase or balance transfer. Assuming point redemptions are the same as the excellent version of the card, 2500 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.