Barclaycard Rewards MasterCard Review

The folks at Barclay Card are nothing if not persistent. A buddy of mine is overseas. I picked up his mail, and there are at least a dozen Barclaycard MasterCard mailers in here. It got me wondering, is the Barclaycard Rewards MasterCard good or is the Barclaycard MasterCard a waste of money? Without further ado, here is the Barclaycard Rewards MasterCard review.

Barclaycard Rewards MasterCard Reviews

The Barclayscard MasterCard rewards card is issued by Barclays Bank Delaware. Barclays Bank Deleware was originally Juniper Bank, but was bought by big British bank Barclays in 2004. There is no actual bank, it only issues credit cards in the U.S. In addition to the Barclaycard Rewards MasterCard, the bank issues co-branded cards, such as an American Airlines credit card, the JetBlue credit card, and a rewards card.


As always, different customers can get different terms and conditions for the same cards, but in this case, it looks the Barclaycard Rewards MasterCard is setup as a points rewards credit card.

For every $1 you spend on gas, utility, and grocery stores, you earn 2 point. Note, that Target and Walmart are specifically excluded as grocery stores for the purposes of 2x points.

Then, you earn one point for each dollar spent everywhere else.

Barclaycard Rewards MasterCard Redeem Points

Without a Barclaycard Rewards MasterCard catalog, it’s difficult to tell just how worthwhile the points are when it comes time to actually redeem Barclaycard rewards points. However, even though I don’t actually have the Barclaycard Rewards Catalog, the mailing does state that you can redeem the points for statement credits, deposits to checking and savings accounts, and gift cards. The starting rate for Barclays Card rewards point redemptions is 1,000 for $10.

That’s a pretty standard point redeem schedule for most cards. For example both Capital One card rewards, and Citibank rewards use similar pricing tiers. So, based on the 2x points earned, that would make the Barclaycard MasterCard a good deal, but based on the 1x points, that would make it average.

The amount of points you can earn is not limited, which is a good thing. A recent sneaky trick of fine print for some credit card scams is to limit the amount of points you can earn each quarter, or each year, particularly from higher earning categories.

As an added sweetener, it offers “free online access to your FICO credit score.” The fine print does not say which FICO score it shows, nor how often your credit score is updated.

For non-FICO scores, there are plenty of free ways to get a free VantageScore from companies like Credit Karma, WalletHub, or Credit Sesame.

Barclaycard Rewards MasterCard Reviews Terms and Conditions

Since the Barclayscard points are an average offer, a good review of Barclaycard Rewards card comes down to the terms and conditions.

There is no annual fee for the Barclaycard card, so that’s a point in it its favor.

There is an introductory interest rate of 0% for 12 months, but after that, the interest rate is crazy high though. The current rate shows 23.24%, but that’s based on a 3.5 percent Prime Rate. The rate is variable, and is calculated at Prime plus 19.74%. The cash advance rate is even higher calculated at Prime + 21.99%.

Balance transfers are eligible for the 0% rate for 12 months, but there is an upfront balance transfer fee of 3 percent, so you aren’t getting off that easy.

Foreign transactions have a 3% transaction fee, so this card is right out for international use.

BarclayCard Deal or No Deal

My understanding is that Barclaycard is primarily marketed to those with lower credit scores, so that might explain the very high interest rates. Obviously, if you are going to carry a balance, the Barclaycard Rewards MasterCard is not a good card for you.

If, on the other hand, you have some damaged credit, and you won’t be carrying a balance, a no annual fee card with 2x points for grocery stores and gas might make the Barclaycard a good card for you.

Overall, for my Barclaycard Rewards Mastercard review, I’d have to give the Barclaycard Rewards MasterCard an average, or 3-star review.

1 thought on “Barclaycard Rewards MasterCard Review”

  1. I never really bother with the ‘extras’ that my credit card company provides. Honestly I dont care but what matters to me is the personal touch, and THATS what my wife gets EVERY SINGLE TIME she calls up to claim back a voucher or whatever it is. She actually looks forward to talikng to your guys on the phone because they are always so pleasant, funny, cool and knowledgeable.
    If you guys continue to make my wife happy, then I will continue to leave great reviews. Well done to the Call Centre guys n Girls and thank you. Great job and please keep it up. Cheers


Leave a Comment