Barclaycard Ring Gets Out of the 0% Interest Game
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
» This card is no longer available
The Barclaycard Ring® Mastercard® is no longer accepting applications. See our best balance transfer credit cards for other options.
The Barclaycard Ring® Mastercard® has eliminated its introductory 0% interest period, knocking it out of the ranks of the best balance-transfer cards.
The Barclaycard Ring® Mastercard® always had a $0 annual fee, and it was one of the few credit cards that never charged a fee to transfer a balance. In February 2017, Barclaycard sweetened the deal by adding an introductory 0% APR period on purchases and balance transfers for 15 months. That gave the card the rare "triple zero" of balance transfer benefits: a $0 annual fee, a $0 transfer fee and a 0% introductory interest rate.
As of Feb. 1, 2018, however, that 0% period is history. To soften the blow a bit, Barclaycard also lowered the ongoing APR on the card, which had been 13.99%, to 10.74%. Essentially, the Barclaycard Ring® Mastercard® went back to what it was before February 2017: A decent option for people who tend to carry a balance from month to month and need a relatively low ongoing APR to save on interest.
The triple zero battle
At the time the Barclaycard Ring® Mastercard® began offering a 0% promotional rate, credit card issuers were locked in a battle to drum up new business by offering low- to no-cost balance transfers to consumers with excellent credit. Other cards boasting the triple zero included the Chase Slate® and the BankAmericard® credit card. Those offers have also gone by the wayside as card issuers determined that the triple zero didn't make business sense.
You can still find cards with a $0 annual fee and a lengthy 0% period for transfers, but the number of options that also don't have a transfer fee is sharply limited. Your best best for finding one probably lies with a local or regional bank or credit union, rather than with a large national issuer. Even if a card charges a balance transfer fee, though, it may be well worth paying if the transfer allows you to pay down your debt without interest. Transfer fees typically run 3% to 5% of the amount transferred, while credit card interest rates are usually well over 10%.
Alternatives to the Barclaycard Ring® Mastercard®
Looking for a lengthy 0% period for a balance transfer? See our best balance transfer credit cards. Looking to finance a big purchase? See our best 0% credit cards.
Find the right credit card for you.
Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.
