Everyday Rewards & No Annual Fee
The Barlcaycard® Rewards MasterCard® is one of the few and perhaps the best rewards card with no annual fee that will approve those with fair credit scores starting at 600 on average and above. Its rewards structure is straightforward and generous and allows you to quickly earn points.
- Earn 2 points on gas, utility & grocery store purchases excluding superstores like Target® and Walmart®. You can earn bonus points daily on basic essentials and automatically as you link your card to your utility bills like electricity, gas, water, and trash.
- Earn 1 point on all other purchases.
Consider it receiving 2% back on gas, utilities, and groceries, and 1% back on on everything else which is a very respectable rate for a subprime card with no annual fee. Members also receive options to redeem points earned for cash equivalents like deposits to a U.S. checking or savings account, statement credits, or gift cards starting at 1,000 points. Each point is valued at 1 cent per point, therefore 10,000 points can be redeemed for $100 statement credit to reduce your balance for example. There are no limits on the number of points you can earn, and points will not expire as long as your account is open and in good standing.
Benefits to Build Credit
First and foremost, the Barlcaycard® Rewards MasterCard® has extremely high interest rates on purchases, balance transfers, and cash advances. To avoid high fees and interest rates that may lead to credit card debt, do not carry a balance, balance transfer, cash advance, or travel with this card. If you’re unable to make this commitment, there are many other credit cards that will be a better option. On the other hand, it can help you build credit if monthly balances are always paid in full and on time. Doing so will have many positive benefits including security that you will not be charged any interest or fees, all your rewards earned can be considered free and will not be devalued, and you will steadily build your credit score and credit health. Additionally, the Barclaycard Rewards card includes features that will help with building your credit as you earn rewards.
- Access to Your FICO® Credit Score – Receive complimentary online access to your FICO credit score. You can closely monitor your credit at any time and also receive alerts when your score changes.
- Credit Line Increase – Those will fair credit may initially receive a low credit line of several hundred dollars upon approval of the Barclaycard Rewards card. However, if you complete 5 consecutive monthly payments on time, you become eligible for a review for a credit line increase. Having more available credit will improve your FICO score by decreasing your debt to credit ratio or credit utilization ratio. As your credit line steadily increases, you may get tempted to carry a balance but it’s still highly encouraged to always pay monthly balances in full or you will be subjected to the costly 25.24% variable APR.
- Fraud Protection – Protect your credit score and history with $0 Fraud Liability since you will not be responsible for unauthorized charges that are reported. Your card also comes with chip card technology which adds extra security when making purchases.
A Rewards Card for Fair Credit or Better
The Barlcaycard® Rewards MasterCard® makes a breakthrough in a market once exclusive to those with excellent credit by offering solid rewards and no annual fee to members with fair credit or better. Easily earn points every time you use your card and even double points on everyday essentials like gas, utilities, and groceries. However, it can’t be stressed enough that members must be financially stable and disciplined to pay balances in full and on time every month to avoid expensive interest rates and fees that can overtake any rewards earned or worst yet, lead to lowered credit scores and credit card debt. Also included in the Barclaycard Rewards MasterCard are credit building benefits that can help improve credit score and history. Review our complete list for more credit card bonus promotions.
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