If you frequently need groceries, gasoline, and other utilities; the Barclays Rewards MasterCard is your NUMBER 1 choice. It gives you 2% rewards for your purchases. This card is for people who have excellent credit. If your credit score is less than 720+, just look for another card. Moreover, it is a no annual fee card. However, if you want to earn massively from all your purchases, this card is not the best option for you.
This may not interest you; the Barclays Rewards MasterCard has no signup bonus. This is one thing that attracts customers. The welcome bonus usually boosts the short term value of the card since it rewards customers hugely. A welcome bonus can double or triple the rewards a cardholder earns in a year.
Features and Benefits of the Barclays Rewards MasterCard
- This card gives reward points that you can redeem for deposit into US saving or checking account or gift card and statement credit. However, your points must be up to 1,000 before you redeem them.
- Also, you earn 2 points per dollar spent on gas stations, grocery stores, and utilities apart from Target and Wal-Mart.
- You also earn 1 point per dollar on all other purchases.
- Further, cardholders have free online access to their FICO Score. If you are building your credit score, this will help you monitor your progress.
- The Barclays Rewards MasterCard has one of the highest APR’s. This is 25.24% and it is variable. It is not good for customers who carry a balance month to month.
Comparing this card with the Chase Freedom Card, you will understand its value better. When it comes to cashback, Chase Freedom is one of the best. With it, cardholders earn 5% cashback on up to $1,500 in combined purchases each quarter you activate. In addition, you will get new 5% categories every 3 months. If 25% of your purchases fall in the 5% categories, choose the Chase Freedom Credit Card instead of Barclays Rewards MasterCard.
Furthermore, you can compare this card
with the Discover It Cash Back card. The Discover It Cash Back card gives cardholders 5% cash back in categories that change every 3 months. You can get maximum of $1,500 when you sign up and make purchases with your card. The more impressive aspect is that new cardholders of this card receive double cash back rewards at the end of the first year. Am sure you find this amazing. Just shop when the cashback categories are displayed to enjoy your rewards.
Having gone through some features of this card, carefully review your budget to know the one that suits you. You can also determine which category you spend more in, this will help you to make the best choice. I hope you found this very useful.
Lastly, if you have questions, please drop them in the comment section below.