Having a high-interest rate credit card can be very costly carry debt. If you have a high credit card amount, you might save a lot of money by transferring it to a lower-interest credit card. Balance transfers are limitless and fee-free with the Barclaycard Ring. This card is for you if you're more interested in not paying interest than earning rewards.

Read on to find out why this card is rated so well by MyBankTracker for making balance transfers. Best for those whose primary goal is to keep their interest payments low rather than maximise their potential benefits.

There are no ongoing yearly costs—low costs, including 0% balance transfers for life. There will be no additional charges for any international transactions. There needs to be a point system in place. There are perks exclusive to the Barclaycard Ring Mastercard that you won't discover with any other card. Among the benefits of becoming a cardholder are the following:

Tiny Costs The cost of using your card may be significantly higher than anticipated because of all the associated fees. There aren't a tonne of hidden costs with the Barclaycard Ring Mastercard.

Charity scheme

Members of the Barclaycard Ring Mastercard are rewarded in the Giveback programme for offering their opinions and ideas. Concurrently, it's a method to help a worthy cause.

Cardholders have a say in the program's guidelines each year. They get a cut of the income made from the card. They can either make a charitable contribution or use the cash to pay off debts. Barclaycard will double your donation if you contribute.

Get your credit report and score for free. If you want to succeed financially, you need a high credit score. A higher score gives you a better chance of being approved for credit and receiving favourable interest rates. Customers of Barclaycard have monthly, free online access to their FICO credit score.

This card is hard to beat if you're searching for convenience and savings in one package. The best thing about the Barclaycard Ring Mastercard is that you can move your balance as often as you choose. The ability to transfer credits between cards is the primary selling point of this one. The Barclaycard Ring Mastercard is an attractive option to share a balance.

The rest of the deck's highlights

First of all, there are no balance transfer costs. For instance, the fee assessed by the Chase Sapphire Preferred Card is more significant than $5 or 5% of the transferred funds. This cost alone would amount to $250 if you shared a $5,000 balance. You're increasing your debt load even though interest rates are decreasing.

Second, you can combine your debt at no cost if you transfer balances during the introductory time. The balance transfer fee is waived entirely with the Barclaycard Ring Mastercard and the APR on the Ring card, and then you will save money in the long run if you transfer balances frequently.

We've included a few extra specifics about the Barclaycard Ring Mastercard that you should know before applying for it to round out our assessment. Rewards There is no set rewards programme. However, the Giveback programme allows you to share in the revenues of the card.

Safety measures

That means you won't be able to earn anything for your purchases. For shoppers that appreciate points or other incentives, that could be a negative feature. Any damage done to your credit score or finances by credit card fraud can be long-lasting. The security chip included in the Barclaycard Ring MasterCard helps to reduce the likelihood of your information being stolen.

The chip generates a one-time-use transaction code for each purchase when used at merchant establishments equipped with chip-reader terminals. As a result, it would be tough, if not impossible, for a hacker to steal your details.

Payments of interest and costs

It's the best option if you're looking for a credit card with the lowest potential annual fee. There are no hidden fees associated with using a Barclaycard Ring Mastercard, including no annual charge, no balance transfer fee, and no foreign transaction fee. The cash advance fee is $3, which is lower than the fees charged by some other cards.

Take the previously stated Arrival Plus World Elite MasterCard; the fee for cash advances is either $10 or 5% of the advance amount, whichever is more significant. Payments that are returned will incur the same $26 late fee as those that are not. Compared to other credit cards on the market, that is relatively inexpensive.