Offering 2 points per $1 spent on gas, grocery, and utility purchases and 1 point per $1 spent on all other purchases, the Barclaycard Rewards card can help households save money. It also comes with a generous introductory bonus of a $50 credit after your first purchase. However, to qualify for this card, you’ll usually need excellent credit.
 | | - Earn 5,000 points, equal to a $50 statement credit, after your first purchase or balance transfer
- 0% Introductory APR for 12 months on purchases and balance transfers
- No annual fee
- Earn 2 points per $1 on gas, grocery, and utility purchases
- Earn 1 points per $1 everywhere else
- Use the points you earn like cash to pay for almost any purchases you've made.
- No blackout date, no redemption fees, no limit on the points you can earn and no complicated set up.
- This offer is for individuals with a good to excellent credit history which amongst other things is clear of bankruptcy and delinquent accounts
- Go to issuer's official application, terms, and details
| | | | Intro APR for Purchases | Intro APR for Balance Transfer | Regular APR | Annual Fee | 0% for 12 months | 0% for 12 months | 14.99% - 24.99% (Variable) | $0 |
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| Overall Score | 4.0 | |
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| Rewards | 4.5 | |
| Interest Rates | 3.5 | |
| Fees | 4.0 | |
| Benefits | 4.0 | |
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5-point scale (the higher, the better)
Pros and Cons
- 2 points on gas, grocery and utilities
- 5000 bonus points after first purchase
- 0% intro APR for 12 months on purchases and balance transfers
- No annual fee
- Requires excellent credit
Bottom Line
Good cash back rewards credit card for those with excellent credit.
Cash Back Program
Whenever you buy something on the Barclaycard Rewards MasterCard, you earn reward points. You earn 1 point for every dollar spent on most purchases. You earn 2 points for every dollar spent on gas, grocery, and utility purchases; items every household needs. What’s nice about this card is that it doesn’t limit the number of points you can earn per year. Some cash back cards only allow you to earn points up to a maximum amount of purchases per year.
Once you’ve earned enough points, you can redeem them for cash back. To get $50 in cash back, you need 5,000 points. When you redeem your points, Barclays will credit your card balance with a statement credit. By using this card frequently, you should see a fair amount of annual savings.
Introductory Bonus
The Barclaycard Rewards MasterCard also offers a couple of bonuses for new cardholders. After your first purchase on this card, you get 5,000 bonus points, enough for $50 in cash back. Since this card doesn’t charge an annual fee, you basically get $50 just for signing up for this card and making one purchase.
On top of the bonus points, this card also offers a 0% introductory APR for the first 12 months. After that, the APR will be a variable rate, currently 14.99% - 24.99% depending on your creditworthiness.
If you’ve got some current card debt or are planning some big purchases in the near feature, this is a nice way to help avoid interest charges. Keep in mind, there is a balance transfer fee of 4% (3% during the first 15 billing cycles after account opening).
Excellent Credit Required
To qualify for this card, you’ll usually need excellent credit as well as a credit history that is clear of bankruptcy and delinquent accounts. Since this card offers a solid rewards program at no annual fee, it keeps costs low by not taking on risky applicants. If you don’t think you qualify for this card but want to earn cash back, Barclays offers a similar card for applicants with average credit, the Barclaycard Rewards MasterCard Average Credit. This card has less generous benefits but is easier to qualify for.
Pros
- Earns cash back rewards on all purchases and double cash back on grocery, gas, and utility purchases
- Earns 5,000 points after your first purchase, enough for $50 in cash back
- 0% introductory APR on purchases and balance transfers for 12 months
- No annual fee
Cons
- Applicants need a good to excellent credit score to qualify for this card
Bottom Line
If you can qualify for this card, it’s overall a good cash back program for households. This card is especially useful if you are trying to save money on everyday purchases like gas, groceries, and utilities.
Next Step: View the issuer's official application, terms, and details
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Disclaimer: This content is not provided or commissioned by the company whose products are featured on this site. Any opinions, analyses, reviews or evaluations provided here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Advertiser. This site may be compensated through the Advertiser's affiliate programs.
Disclaimer: This content was first published on February 1, 2013. This content may have been updated on March 22, 2013. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Barclays website for updated information.
