If you’re starting out in the big wide world of credit you might want to try out the Barclaycard Forward Credit Card. It can be difficult to choose from the wide variety of credit card options out there. You’ve got to think about what your priorities are, some cards are going to give you a ton of rewards, and others might give you great interest.
The Barclays card can help you build your credit rating or improve your poor rating. It is also nice and simple for everyday purchases like roceries, travel, and shopping. It’s best suited for individuals who are new to credit and those with a not-so-good credit history. This is a card that is specifically designed to help those with no or bad credit.
However, before you make a credit card decision, it is important that you have all the information. We\re going to dive into what the Barclaycard Forward Credit Card can do for you. And from there you can figure out if it’s the right one for you.
What are the Benefits of the Barclaycard Forward Credit Card
Barclaycard offers a suite of credit cards that let you earn rewards, take control of your money, and track your spending. In this article, we dig deeper into the perks and benefits of having the Barclaycard Forward Credit Card.
The highlight of this credit card is the personalized credit limit. Applicants can request a credit limit between £50 to £1,200 or higher, but Barclaycard still has the last say. Depending on your financial circumstance, you may get the minimum amount or higher.
To better track your balance and due date, text alerts are sent weekly. This enables easy tracking of unauthorized transactions if there are any. This feature is especially great for those who are new to credit cards and monthly payments. Cardholders can also disable this feature any time they want.
Pay off balances on time and in full by subscribing to the Direct Debit payment option. When the due date is up, the balance will be deducted from your savings automatically. You can choose if you are only allowing the minimum amount, fixed amount, or full amount for the payment option. This is a helpful feature for cardholders who often forget to make payments. With this tool, you can at least ensure that your minimum payment will always be made and, thus, your credit rating will be protected.
Best of all, the Barclaycard Forward Credit Card is powered by Visa. Because of this, cardholders can enjoy worldwide acceptance and get access to exclusive deals and promos. Visa cards also have a contactless feature, which acts as a ‘tap and go’ payment scheme.
Lastly, all of these features of the Barclaycard Forward Credit Card are offered with no annual fee. That means you do not have to outright pay to access this card and its complimentary tools. Plus, you can make purchases with zero interest for the first 3 months after your account opens.
What are the Fees of the Barclaycard Forward Credit Card
- No annual fee
- APR: Representative 34.9% APR (variable)
- Purchases: Simple rate of 30.31% (Compound equivalent 34.9%)
- Cash withdrawals: Simple rate of 30.31% (Compound equivalent 34.9%)
- Balance transfers: Simple rate of 30.31% (Compound equivalent 34.9%)
- Cash fee: 2.99%, minimum £2.99 on sterling transactions only
- Late payment fee: £12
- Over credit limit: £12
Note that this is not a comprehensive list of fees associated. For more information regarding what you can expect, refer to the Barclaycard website.
What you Need to Know if you are New to Credit Cards
If you are new to credit cards there are a few things you should know. In order to get started off in the right direction, it is important to understand how your credit card works. First, it is essential that you make at least the minimum payment on time each month. Not making a payment, or making a late payment, can not only accrue fees but can also damage your credit score.
Additionally, if you are able to pay off your balance in full, always do so. One of the benefits of having a credit card is the ability to carry a balance from month to month without having to use cash to fund transactions. However, this privilege comes with a significant cost. Especially since this card is aimed at those with no or poor credit, the interest charges on rollover balance are quite high. To avoid accumulating expensive charges, pay your balance off in full when you are comfortably able to do so.
Keep track of your payments and use your Barclaycard Forward Credit Card responsibly and you will be on the right track to build a solid credit history.
How to Apply for a Barclaycard Forward Credit Card
To apply for this credit card, applicants need to provide personal and employment information to Barclaycard. Eligible applicants need to be at least 18 years old, a UK resident, in employment, earning a minimum of £3,000 per year, and have an existing bank account. The bank also requires applicants to submit information about residence and declare if they have been bankrupt within the last six years.
The application can be done online through the Barclaycard website, through a phone call, or by visiting a branch. For the online application, Barclaycard offers a Free Eligibility Checker to help you determine if you qualify for this credit card or not.
If successful in your application, the assumed credit limit amount is £1,200, but applicants are free to request a specific amount. Note that the bank can either approve or decline this request depending on your personal circumstances.
Overall, the Barclaycard Forward Credit Card is a valuable card for those who want to rebuild and improve their credit rating. To get the credit improvement benefits and continue using the card, pay for your balance on time.
How to Contact Barclaycard
1234 Pavilion Dr
NN4 7SG Northampton, Northamptonshire.
Telephone: 0800 151 0900