A stark reality of the credit card world is lots of people carry a balance, and thus pay interest to the issuers. As a result, lots of readers are in search for better options to keep their overall costs down. The Barclaycard® Ring MasterCard® hopes to step in and be the answer for those interested in paying down their bills and hopefully eliminating carrying a balance in the future.

To start off with, the Ring card comes with zero balance transfer fees and no annual fee. Then, Barclays is committed to providing a low interest rate on the card, currently 8%.

The best part of the card though comes in the form of the money that the Ring community brings in and how it is redistributed. A portion of the profits are returned to the customer, where you then have the option of keep your share or donate the money to charity.

I rather like the open book concept, where “each month you will see how the collective Barclaycard Ring community is performing, how [they] make money, [their] expenses and what portion of the estimated profits can be shared through the Giveback™ program.”

Overall, I think this is a really interesting product for those carrying balances, since your involvement in the program can help keep you focused on getting rid of those balances and even having enough left over to make a difference to a charity.

We are an affiliate of the Barclay’s Ring card, which does provide us with a commission, but all opinions expressed are those of InACents. If you appreciate our service and use our links, thank you!

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