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» 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®