Various Credit- Building Options: Barclaycard Forward Credit Card Review
Today, let’s review the Barclaycard Forward, a credit-building card designed specifically for people with limited or poor credit history. It offers unique perks like cashback and interest rate reductions. Let’s explore how this card works, its benefits and drawbacks, and how it stacks up against other credit-building options available in the market.
About Barclaycard Forward
Barclaycard, a division of Barclays Bank, is one of the UK's most recognized credit card providers. Established in 1966, Barclaycard offers a variety of credit card products designed to meet the needs of different consumers. The Barclaycard Forward is specifically tailored to help those with limited or poor credit histories to build their credit scores.
How the Barclaycard Forward Credit Card Works
The Barclaycard Forward is easily accessible via the Barclays app on your smartphone. It is designed to help users build or improve their credit scores through responsible card usage:
Application Process: The first step is to start with an eligibility check. If you pass, you’ll be navigated to complete the application, which includes a credit check.
Card Management: Manage your card through the Barclays Bank mobile app or online banking. This allows you to track your spending, check your balance, and make payments easily.
Building Credit with Barclaycard Forward Credit Card
The Barclaycard Forward is a credit-building card that stands out by offering unique perks such as cashback and scheduled interest rate reductions.
Cashback Incentive: Earn cashback for making timely payments and staying under your credit limit, encouraging responsible use.
Price Promise: Benefit from reduced interest rates for on-time payments, making it easier to manage repayments and boost your credit score.
Text & Email Alerts: It helps you stay on top of your finances, reducing the risk of missed payments.
What are the benefits?
0% Interest Period: Enjoy a 0% interest period on purchases for the first 3 months.
Cashback: Earn £10 cashback every 3 months in the first year, up to £40 total.
Price Promise: Reduce your interest rate by 3% in the first year and another 2% in the second year if you pay all card bills on time.
Entertainment Discounts: Access to Barclaycard Entertainment discounts.
Fees: There are no annual or monthly fees, but the card has a representative APR of 33.9%.
What are the drawbacks?
High APR: 33.9% representative rate is a relatively high standard rate if you carry a balance.
Low Credit Limit: The minimum credit limit starts from £50 and can go up to £1,200, depending on your circumstances.
Fees: 2.99% fees on overseas transactions and late repayment fee applies.
Comparison to Other Products
When compared to competitors like Zable Credit Card and Yonder No Fee Credit Card, the Barclaycard Forward stands out in several ways with its cashback, interest rate reduction and interest-free period. Additionally, the minimum income requirement of £3,000 is lower than many other credit-building cards, which makes Barlcay’s offering more attractive.
What do people think of Barclaycard Forward?
Barclaycard as a whole has mixed reviews on Trustpilot, with an overall rating of 1.3 stars out of 5 from over 3,000 reviews. However, reviews specific to the Forward card are generally positive, with users praising its effectiveness in helping build credit scores and the benefits of the Price Promise feature. Common complaints include the lengthy application process, poor customer service, and high interest rates despite potential reductions.
Conclusion
The Barclaycard Forward could be worth it if you’re looking for a credit-building card to improve your credit score and access a line of credit for emergencies. It offers several perks rarely found in other credit-building cards. However, if you don’t need the extra cash or want to avoid the risk of high-interest charges, consider looking into specialised credit-building apps. Always choose the option best suited for your financial situation.
Please note: this is not financial advice, and you shouldn't rely on it to make any financial decision.
If you are in debt or struggling, StepChange or MoneyAdvice are able to provide free advice and help: StepChange Debt Charity | Money Advice
Today, let’s review the Barclaycard Forward, a credit-building card designed specifically for people with limited or poor credit history. It offers unique perks like cashback and interest rate reductions. Let’s explore how this card works, its benefits and drawbacks, and how it stacks up against other credit-building options available in the market.
About Barclaycard Forward
Barclaycard, a division of Barclays Bank, is one of the UK's most recognized credit card providers. Established in 1966, Barclaycard offers a variety of credit card products designed to meet the needs of different consumers. The Barclaycard Forward is specifically tailored to help those with limited or poor credit histories to build their credit scores.
How the Barclaycard Forward Credit Card Works
The Barclaycard Forward is easily accessible via the Barclays app on your smartphone. It is designed to help users build or improve their credit scores through responsible card usage:
Application Process: The first step is to start with an eligibility check. If you pass, you’ll be navigated to complete the application, which includes a credit check.
Card Management: Manage your card through the Barclays Bank mobile app or online banking. This allows you to track your spending, check your balance, and make payments easily.
Building Credit with Barclaycard Forward Credit Card
The Barclaycard Forward is a credit-building card that stands out by offering unique perks such as cashback and scheduled interest rate reductions.
Cashback Incentive: Earn cashback for making timely payments and staying under your credit limit, encouraging responsible use.
Price Promise: Benefit from reduced interest rates for on-time payments, making it easier to manage repayments and boost your credit score.
Text & Email Alerts: It helps you stay on top of your finances, reducing the risk of missed payments.
What are the benefits?
0% Interest Period: Enjoy a 0% interest period on purchases for the first 3 months.
Cashback: Earn £10 cashback every 3 months in the first year, up to £40 total.
Price Promise: Reduce your interest rate by 3% in the first year and another 2% in the second year if you pay all card bills on time.
Entertainment Discounts: Access to Barclaycard Entertainment discounts.
Fees: There are no annual or monthly fees, but the card has a representative APR of 33.9%.
What are the drawbacks?
High APR: 33.9% representative rate is a relatively high standard rate if you carry a balance.
Low Credit Limit: The minimum credit limit starts from £50 and can go up to £1,200, depending on your circumstances.
Fees: 2.99% fees on overseas transactions and late repayment fee applies.
Comparison to Other Products
When compared to competitors like Zable Credit Card and Yonder No Fee Credit Card, the Barclaycard Forward stands out in several ways with its cashback, interest rate reduction and interest-free period. Additionally, the minimum income requirement of £3,000 is lower than many other credit-building cards, which makes Barlcay’s offering more attractive.
What do people think of Barclaycard Forward?
Barclaycard as a whole has mixed reviews on Trustpilot, with an overall rating of 1.3 stars out of 5 from over 3,000 reviews. However, reviews specific to the Forward card are generally positive, with users praising its effectiveness in helping build credit scores and the benefits of the Price Promise feature. Common complaints include the lengthy application process, poor customer service, and high interest rates despite potential reductions.
Conclusion
The Barclaycard Forward could be worth it if you’re looking for a credit-building card to improve your credit score and access a line of credit for emergencies. It offers several perks rarely found in other credit-building cards. However, if you don’t need the extra cash or want to avoid the risk of high-interest charges, consider looking into specialised credit-building apps. Always choose the option best suited for your financial situation.
Please note: this is not financial advice, and you shouldn't rely on it to make any financial decision.
If you are in debt or struggling, StepChange or MoneyAdvice are able to provide free advice and help: StepChange Debt Charity | Money Advice
Today, let’s review the Barclaycard Forward, a credit-building card designed specifically for people with limited or poor credit history. It offers unique perks like cashback and interest rate reductions. Let’s explore how this card works, its benefits and drawbacks, and how it stacks up against other credit-building options available in the market.
About Barclaycard Forward
Barclaycard, a division of Barclays Bank, is one of the UK's most recognized credit card providers. Established in 1966, Barclaycard offers a variety of credit card products designed to meet the needs of different consumers. The Barclaycard Forward is specifically tailored to help those with limited or poor credit histories to build their credit scores.
How the Barclaycard Forward Credit Card Works
The Barclaycard Forward is easily accessible via the Barclays app on your smartphone. It is designed to help users build or improve their credit scores through responsible card usage:
Application Process: The first step is to start with an eligibility check. If you pass, you’ll be navigated to complete the application, which includes a credit check.
Card Management: Manage your card through the Barclays Bank mobile app or online banking. This allows you to track your spending, check your balance, and make payments easily.
Building Credit with Barclaycard Forward Credit Card
The Barclaycard Forward is a credit-building card that stands out by offering unique perks such as cashback and scheduled interest rate reductions.
Cashback Incentive: Earn cashback for making timely payments and staying under your credit limit, encouraging responsible use.
Price Promise: Benefit from reduced interest rates for on-time payments, making it easier to manage repayments and boost your credit score.
Text & Email Alerts: It helps you stay on top of your finances, reducing the risk of missed payments.
What are the benefits?
0% Interest Period: Enjoy a 0% interest period on purchases for the first 3 months.
Cashback: Earn £10 cashback every 3 months in the first year, up to £40 total.
Price Promise: Reduce your interest rate by 3% in the first year and another 2% in the second year if you pay all card bills on time.
Entertainment Discounts: Access to Barclaycard Entertainment discounts.
Fees: There are no annual or monthly fees, but the card has a representative APR of 33.9%.
What are the drawbacks?
High APR: 33.9% representative rate is a relatively high standard rate if you carry a balance.
Low Credit Limit: The minimum credit limit starts from £50 and can go up to £1,200, depending on your circumstances.
Fees: 2.99% fees on overseas transactions and late repayment fee applies.
Comparison to Other Products
When compared to competitors like Zable Credit Card and Yonder No Fee Credit Card, the Barclaycard Forward stands out in several ways with its cashback, interest rate reduction and interest-free period. Additionally, the minimum income requirement of £3,000 is lower than many other credit-building cards, which makes Barlcay’s offering more attractive.
What do people think of Barclaycard Forward?
Barclaycard as a whole has mixed reviews on Trustpilot, with an overall rating of 1.3 stars out of 5 from over 3,000 reviews. However, reviews specific to the Forward card are generally positive, with users praising its effectiveness in helping build credit scores and the benefits of the Price Promise feature. Common complaints include the lengthy application process, poor customer service, and high interest rates despite potential reductions.
Conclusion
The Barclaycard Forward could be worth it if you’re looking for a credit-building card to improve your credit score and access a line of credit for emergencies. It offers several perks rarely found in other credit-building cards. However, if you don’t need the extra cash or want to avoid the risk of high-interest charges, consider looking into specialised credit-building apps. Always choose the option best suited for your financial situation.
Please note: this is not financial advice, and you shouldn't rely on it to make any financial decision.
If you are in debt or struggling, StepChange or MoneyAdvice are able to provide free advice and help: StepChange Debt Charity | Money Advice
Start building credit today
Get the app
COMPANY
CREDIT Card
LEGAL (SIMPLIFIED)
Fea Card Limited
© Fea Card Limited, 2018 - 2024
Camden Gateway, 349 Royal College Street
London, England, NW1 9QS
hello@getbits.app
0207 438 2090
Phone Support: 9am - 6pm, Monday-Friday
Languages Supported: English, Georgian, Hindi, Portuguese, Russian, Spanish, Sindhi, Tagalog, Telugu, Ukrainian
Bits is the trading name of Fea Card Limited, company number 11620703, which is authorised and regulated by the Financial Conduct Authority (FRN:946683) to provide credit information services, credit broking services and lending. Bits is also a member of CIFAS (the UK's leading fraud prevention service) and registered with the Information Commissioner's Office with registration number ZA507202.
Please note that some of the regulatory permissions we have carry limitations, which are stated on the FCA website. Furthermore, you should be aware that we also offer some services which are not regulated, as they are structured under exemptions in the Regulated Activities Order. To understand which of our services are regulated and which ones aren't, please look at the Regulatory Status page on our website. Our core services, which are the Bits Subscription, Bits Credit Card and Bits Store Card are not regulated, and this means you will not, as a consumer, have protections that typically come with a regulated product.
In addition to the above, Fea Card Limited is also an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Reference Number: 804718). Plaid provides you with regulated account information services through Fea Card Limited as its agent. Specifically, this permission is used for our rent reporting service.
Start building credit today
Get the app
COMPANY
CREDIT Card
LEGAL (SIMPLIFIED)
Fea Card Limited
© Fea Card Limited, 2018 - 2024
Camden Gateway, 349 Royal College Street
London, England, NW1 9QS
hello@getbits.app
0207 438 2090
Phone Support: 8am - 8pm, Monday-Friday & 9am - 5pm, Weekends
Languages Supported: English, Georgian, Hindi, Portuguese, Russian, Spanish, Sindhi, Tagalog, Telugu, Ukrainian
Bits is the trading name of Fea Card Limited, company number 11620703, which is authorised and regulated by the Financial Conduct Authority (FRN:946683) to provide credit information services, credit broking services and lending. Bits is also a member of CIFAS (the UK's leading fraud prevention service) and registered with the Information Commissioner's Office with registration number ZA507202.
Please note that some of the regulatory permissions we have carry limitations, which are stated on the FCA website. Furthermore, you should be aware that we also offer some services which are not regulated, as they are structured under exemptions in the Regulated Activities Order. To understand which of our services are regulated and which ones aren't, please look at the Regulatory Status page on our website. Our core services, which are the Bits Subscription, Bits Credit Card and Bits Store Card are not regulated, and this means you will not, as a consumer, have protections that typically come with a regulated product.
In addition to the above, Fea Card Limited is also an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Reference Number: 804718). Plaid provides you with regulated account information services through Fea Card Limited as its agent. Specifically, this permission is used for our rent reporting service.
Fea Card Limited
© Fea Card Limited, 2018 - 2024
Camden Gateway, 349 Royal College Street
London, England, NW1 9QS
hello@getbits.app
0207 438 2090
Phone Support: 9am - 6pm, Monday-Friday
Languages Supported: English, Georgian, Hindi, Portuguese, Russian, Spanish, Sindhi, Tagalog, Telugu, Ukrainian
Bits is the trading name of Fea Card Limited, company number 11620703, which is authorised and regulated by the Financial Conduct Authority (FRN:946683) to provide credit information services, credit broking services and lending. Bits is also a member of CIFAS (the UK's leading fraud prevention service) and registered with the Information Commissioner's Office with registration number ZA507202.
Please note that some of the regulatory permissions we have carry limitations, which are stated on the FCA website. Furthermore, you should be aware that we also offer some services which are not regulated, as they are structured under exemptions in the Regulated Activities Order. To understand which of our services are regulated and which ones aren't, please look at the Regulatory Status page on our website. Our core services, which are the Bits Subscription, Bits Credit Card and Bits Store Card are not regulated, and this means you will not, as a consumer, have protections that typically come with a regulated product.
In addition to the above, Fea Card Limited is also an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Reference Number: 804718). Plaid provides you with regulated account information services through Fea Card Limited as its agent. Specifically, this permission is used for our rent reporting service.
Start building credit today
Get the app
COMPANY
CREDIT Card
LEGAL (SIMPLIFIED)
Fea Card Limited
© Fea Card Limited, 2018 - 2024
Camden Gateway, 349 Royal College Street
London, England, NW1 9QS
hello@getbits.app
0207 438 2090
Phone Support: 9am - 6pm, Monday-Friday
Languages Supported: English, Georgian, Hindi, Portuguese, Russian, Spanish, Sindhi, Tagalog, Telugu, Ukrainian
Bits is the trading name of Fea Card Limited, company number 11620703, which is authorised and regulated by the Financial Conduct Authority (FRN:946683) to provide credit information services, credit broking services and lending. Bits is also a member of CIFAS (the UK's leading fraud prevention service) and registered with the Information Commissioner's Office with registration number ZA507202.
Please note that some of the regulatory permissions we have carry limitations, which are stated on the FCA website. Furthermore, you should be aware that we also offer some services which are not regulated, as they are structured under exemptions in the Regulated Activities Order. To understand which of our services are regulated and which ones aren't, please look at the Regulatory Status page on our website. Our core services, which are the Bits Subscription, Bits Credit Card and Bits Store Card are not regulated, and this means you will not, as a consumer, have protections that typically come with a regulated product.
In addition to the above, Fea Card Limited is also an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Reference Number: 804718). Plaid provides you with regulated account information services through Fea Card Limited as its agent. Specifically, this permission is used for our rent reporting service.