Barclaycard Rewards MasterCard Review

  • 3 min read

When you’ve got an average credit score, it can still be difficult to get a good credit card today. With lending practices being tightened up since 2008, lenders these days are just not willing to take any chances on new accounts as they once did. One of the few options that is available today for people with an average credit score is the Barclaycard Rewards MasterCard for average credit. Not only can you get rewards for your spending needs, but you will also get fairly decent APR.

Is the Barclaycard Rewards MasterCard for average credit the right credit card for you? Let’s take a look at the program details to see if this credit card can meet your needs.

What Is the Average Credit Score For Approval?

New account holders typically have an average credit score of 658 when they are approved for the Barclaycard Rewards MasterCard. Account holders with an even lower credit score of 610 have a chance of being approved depending on their debt to income ratio too. If your credit score is higher than 658, then you have an increased chance of being approved should you apply for this credit card.

In return, you will get a card that has no annual fee. The APR is a little high at 24.99%, but you do earn some comprehensive rewards with this credit card. You’ll earn 2 points for every $1 spent on groceries, gas, and utility purchases. You’ll also get one point for every dollar spent on everything else. You can then use the points that you earn just like cash because they can apply as a statement credit.

For those that are looking to improve their credit score, the Barclaycard Rewards MasterCard reports your account standing to all of the major credit bureaus every month. With ongoing on-time payments, this credit card can help you repair your credit or establish your credit history quickly.

What Are the Details of This Offer?

The Barclaycard Rewards MasterCard offers a line of credit that is pretty similar to most credit cards today. The cash advance rate is 25.24%, which is the same for most other credit card programs that are offered by this lender. There is no annual fee associated with this card, but late payments do have a fee that is up to $37 per missed payment. You’ll pay a 5% cash advance fee and a 3% balance transfer fee, with minimums of $10 and $5 respectively.

With no blackout dates and no restrictions, this rewards program is comprehensive. The rewards program can be canceled if you fail to make the minimum payment by your payment due date. If your account does not remain in good standing, then your points can be forfeited.

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Christopher - BSc, MBA

With over two decades of combined Big 5 Banking and Agency experience, Christopher launched Underbanked® to cut through the noise and complexity of financial information. Christopher has an MBA degree from McMaster University and BSc. from Western University in Canada.