What is Barclaycard Ring Mastercard?
With the Barclaycard Ring MasterCard, you are part of a social community. This means that your opinions matter on all things related to your card. It’s a new concept and it can save you a lot of money over the course of the year.
What Is The Community?
The community is a group of cardholders just like you. Together, you work with the Barclay Group to establish the benefits and features that are desired. You get to vote and run the card together. This allows you to be in control of everything instead of being dictated to in terms of how things are run.
Just as you would be part of the community as a stockholder, the process is very similar. You choose to be part of the community and then get to vote. More importantly, you share in the profits and losses just as you would as a stockholder. This is a new premise and has been the talk of various financial magazines.
You become a member of the community as your perk. All credit cards have one perk or another. Some give you reward points, others give you miles and others help you establish credit. With the Ring MasterCard, you are able to join the community, which gives you perks in the fact that you can share in the success of the community.
How To Be In Control
With this credit card, you are in control. How are you in control? It depends upon your desired level of involvement. You can simply use the card and shop anywhere that MasterCard is accepted. This means online, in person and over the phone. You can shop when and where you want as long as you don’t exceed your credit limit. There is nothing wrong with using the card as you would any other card in your wallet. You don’t have to be active in the community if you choose not to. The statements will still come and the options are still out there if you ever change your mind.
If you do want to be in control, you will get opportunities to vote on benefits and features as they become available. You and all the other members of the community will get to voice your opinions. As it is in a democracy, the feature with the highest number of votes is the feature that goes into place. Unlike other credit cards, this bank wants to hear your opinions. If you have an idea or a suggestion, you can voice your opinion. More importantly, your opinion will be heard by someone in a place of authority to do something about it.
Along with the other cardholders, you are part of the process. When a feature or benefit is up for voting, you will be notified. You can then go online and make your selection. After the voting period is up, you will get to see what the winning feature was and how it will affect you. Communication is significant with this card. You will see everything written in layman’s terms so you never have to worry about something going on without you knowing about it.
Perks Of Being A Cardholder
When you are a cardholder with Barclaycard Ring MasterCard credit card, you get benefits that you are in control of. If you don’t like something, you have the ability to make suggestions and see changes. All of the terms are easy to understand. Should you wish to be part of the process, you are able to be it’s that simple.
Some other perks that you can enjoy include:
- Giveback Program
- Profit and loss statements
- Low fees
- Online account tools
Based upon the financial performance of your community, you are able to share in the profits. This is part of the Giveback Program that you will automatically be enrolled for. If the social community is doing well, then you do well. It’s one of the benefits of being a cardholder in this unique program.
Profit and loss statements are issued to you each month. This is above and beyond your standard banking statement as it will tell you what you can expect with the card. It will tell you how the community is doing and whether there are profits or losses. This gives you a chance to explore how the community is doing without anyone hiding anything from you.
There are low fees throughout the card. This includes a low APR on purchases, a low APR on balance transfers as well as no annual fee on the card. It will cost you less to own this card in comparison to some of the other cards on the market. Should you wish to save money throughout the year when you buy on credit, these are features you will be glad to have.
Managing your account is an important part of having a credit card. You need to find out what your available credit is, your account balance and even view past purchases that you have made to the card. If you don’t want to wait for your monthly statement to arrive in the mail, you have the opportunity to view everything online. You can access your account anywhere there is internet access, 24 hours a day, 7 days a week. With the online account access, you can also download statements to your computer, send credit payments from your checking account and even schedule payments for later in the month.
The Final Word
Applying for a Barclaycard Ring Mastercard credit card and being in control of the features has never been easier. If you’ve always wished you could change things about credit cards, this is your opportunity to do so. There are a lot of perks with being a cardholder and you can find out firsthand what they are.