Barclaycard
Barclaycard credit cards, issued by Barclays Bank, consistently offer some of the best all-round deals in the market with high quality rewards and benefits through the Barclaycard Freedom Rewards program, often the most competitive APR’s in class, as well as the latest payment technology like Contactless Payment. For more in depth analysis, take a look at our Barclaycard guide below.
Compare Barclaycard Credit Cards
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Barclaycard Platinum Balance Transfer Credit Card (22 mth) | 0% on balance transfers for 22 months & purchases for 3 months | 2.9% | 17.9% APR |
Long 0% on balance transfers offer Fair interest rates after 0% period Paperless statements
No transfers from other Barclaycards No money transfer facility |
Barclaycard Platinum Balance Transfer Credit Card (21 mth) | 0% on balance transfers for 21 months, 0% on purchases for 3 months | 2.6% | 17.9% APR |
Long 0% on balance transfers offer Reduced BT fee of 2.6% Fair interest rates after 0% period No transfers from other Barclaycards No money transfer facility |
Barclaycard Platinum Simplicity Low Interest Credit Card | 7.9% on on all purchases & balance transfers | NONE | 7.9% APR |
Low interest rates on all types of balances Barclaycard Freedom Rewards Lowest cash advance interest rate Competitive overall charging structure No transfers from other Barclaycards |
Barclaycard Gold Credit Card | 0% on balance transfers until September 2012 with low BT fee of 2.5% | 2.5% | 19.9% APR |
Available to people with average credit history Low 2.5% balance transfer fee Barclaycard Freedom Rewards Contactless Payment Above average APR |
Barclaycard Initial Credit Card | Barclaycard Freedom rewards 1% of value of purchases | 2.5% | 29.9% APR |
Will help build your credit profile For people with limited credit history Ideal for people new to credit Barclaycard Freedom Rewards Not for those with a bad credit historyBarclaycard Guide
The Barclaycard Proposition
One of the key reasons Barclaycard remains the UK’s most popular credit card is Barclays ability to keep its products fresh. It regularly updates and ‘polishes’ all its offerings which are always amongst the most competitive financial deals in the market, they also feature fashionable add-ons making use of the latest payment technology and security. Barclaycard was the first UK card issuer to pioneer Contactless Payment. It’s recently partnered with mobile network Orange to offer the first commercial contactless mobile payment system using smart phones.
Barclaycard undertakes substantial levels of customer research to ensure that it understands the expectations and aspirations of its target market. For a large financial company it’s very dynamic and quick to react to market trends and its products continually excel because often they are quite simply the best offerings in their class. Its this research that led it to recently revamp and enhance its card protection insurance.
As well as offering market leading 0 balance transfer cards, one of Barclaycard’s products key selling points is Barclaycard Freedom Rewards. Essentially just a loyalty scheme, and launched in 2010, Freedom Rewards automatically credits 1% (only 0.5% on Shell expenditure) of the card holders card spend back to them via ‘Reward Money’.
Although this perk is something for nothing it’s not as useful as some card company’s schemes as you can only spend the ‘money’ at retailers that participate in Barclaycard’s scheme. On the plus side there is a wide variety of different outlets where the rewards can be spent. Freedom partner retailers include electronics and white goods stores, sports shops, travel agencies, restaurants and luxury goods stores. As the list of retailers is effectively ‘closed’ this doesn’t necessarily allow consumers to always land the best deals or prices which are often online. Here’s the current listing of featured retailers
Freedom Rewards Money can be also be spent in Barclaycard’s own Freedom eStore which is only available to Barclaycard holders. Card holders can keep track of the rewards as they accumulate the via an online portal.
The only Barclaycards that don’t currently benefit from the scheme are the Barclaycard Choices, Goldfish and i24 cards.
Barclaycard Corporate Background
Although it’s a very familiar name to almost everyone in the UK today, few people realise what a major player Barclaycard now is. Barclaycard, gave the UK its first credit card in 1966, and since then has grown to become a global player in the credit card market with operations in 60 countries.
One of every 5 credit cards issued in the UK is a Barclaycard, and they have 12 million customers here. They also now have 10.2 million International customers as well as 90,000 Barclaycard Merchant relationships. Its key markets are the UK and Europe, the United States and, maybe surprisingly, Africa.
Its part of the huge Barclays Bank empire which has proven to be one of the most consistent and dependable financial institutions in Britain. Barclays was one of the only high street banks that didn’t need the Governments support in the recent credit crunch, and it’s listed in ‘Forbes Magazine” as Britain’s third biggest company by overall stock market value, but number one on profitability.
Last year Barclaycard earned a cool £791 million of profit for Barclays, which in turn is around 13% of its overall profit. In terms of its business size in global terms, Barclaycard’s turnover equates to about 40% of American Express’s worldwide business. Around 40% of its revenue comes from its UK consumer credit card business.
Through their partnership with the VISA network customers can use their Barclaycard to pay for goods and services in more than 22 million places in over 200 countries. If you need to withdraw cash, you’ve got a choice of over 600,000 ATMs and banks worldwide.
