Barclaycard Ring: The "Crowdsourced" Credit Card

For those looking for a credit card that offers low interest rate, no annual fees, and no balance transfer fees, where cardholders can pitch new ideas and change features on the card, the Barclaycard Ring may be a perfect option.

The Barclaycard Ring credit card offers cardholders a different user experience compared to many cards out there. For example, cardholders can propose ideas and vote for features to make the card better suited to members’ needs.

Moreover, unlike other rewards programs out there, the Barclaycard Ring card has its own program known as Giveback, which essentially is a profit-sharing system. Paying bills on time and opting in for paperless statements will increase what is known as Giveback shares and benefit the community. Members are given options on what to do with their Giveback. Options include funding charity projects, taking it as a statement credit, or splitting it between both.

Badges are earned when members behave in a way that benefits the community. For example, opting in for paperless statements and referring people to the card is a badge each. A cardholder’s online avatar receives a ring of color when a badge is earned. More badges mean more colors. Paul Wilmore, managing director of consumer markets at Barclaycard US noted the ring as a public representation of a cardholder’s community behavior. “Externally, it shows how engaged you are and how much you have.” However, unlike tangible rewards, the badges only represent an online community status.

Additional Features

Regarding transparency, the card offers stats on cardholders and their actions, along with monthly profit and loss figures, because ultimately members will get to share some of the card’s profit.

The card also offers a low 8% variable APR, no balance transfer fees and no annual fees. Unlike many cards out there with a 3% foreign transaction fee, the Barclaycard Ring credit card only charges 1%. The max late fee charged is $25 compared to the $35 charged by others.


The Barclaycard ring offers users a unique experience in terms of profit sharing, community involvement, and low rates, but there are certainly other cards out there with more attractive rewards. Nonetheless, for those looking for a low 8% APR as compared to the average 16% out there, the Ring card is an attractive option, especially for cardholders who are planning to make a big-ticket item purchase and not planning to pay their balance off in full every month.

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Teresa Huang
Teresa Huang: Teresa Huang graduated from Tufts University with a B.S. in Economics & Psychology. Through her classes at Tufts and prior summer internships at various financial firms, including UBS, she developed an interest in finance. Combined with her passion for writing, Teresa believes that financial journalism will allow her to convey her passion and interest in finance with others.

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