Barclaycard has just launched a new rewards credit card. The Barclaycard CashForward MasterCard is a cash back rewards card that has no annual fee. It has an unlimited cash back rate of 1.5% cash back on every purchase which we like, and no annual fee which we also like.
Here are the highlights of the card:
- Get a $100 cash rewards bonus after spending $500 on eligible purchases in the first 90 days that your account is open.
- Earn unlimited 1.5% cash rewards on every purchase.
- Every time you redeem, get a 5% cash rewards redemption bonus to use toward your next redemption.
- Cash rewards can be redeemed as a deposit into your bank account, a statement credit or gift cards. Redemptions start at $50.
- Cash rewards do not expire as long as your account remains open and in good standing.
- Enjoy a 0% introductory APR on purchases for the first 12 billing cycles that your account is open.
- Enjoy a 0% introductory APR on balance transfers for the first 12 billing cycles of your account.
- No annual fee.
Once the introductory APR expires on purchases and balance transfers, your variable APR will be 14.99%, 18.99% or 22.99% based on your creditworthiness at the time of approval.
Important: To qualify for the 0% APR offer, all balance transfers must post to your account within 45 days from the date your account is opened. A balance transfer fee of $5 or 3% of the total amount of the transfer (whichever is greater) is applied to all completed balance transfers.
On the downside there is a 3% foreign transaction fee on all purchases made while traveling outside of the U.S.
Our bottom line is that a no fee credit card with a decent 1.5% cash back rate, without the hassle of rotating reward categories, is worth thinking about.