If you're someone who uses credit cards for every possible purchase, you may fall into a category of credit card fandom above the average credit card user. It may shock you to hear, but some people don’t like credit cards at all. They just see credit cards as a way to add cost or complexity to their lives. But you can’t always live without a credit card.
For everything from online shopping to international travel, there are some good reasons to use credit cards for security and fraud prevention. If you don’t love credit cards but want one for occasional use, Barclays Ring may be the perfect card for you. Let’s take a look at a few key features that make the Ring credit card from Barclaycard the best credit card for people who don’t like credit cards.
Extremely low costs
The Barclaycard Ring® MasterCard® is a low-cost credit card from Barclays. The card offers new cardholders 15 months at 0% APR for new balance transfers completed within 45 days, a competitive APR for purchases and other transactions, and almost no fees. After the introductory period, a variable APR of 13.99% will apply.
There is no annual fee, no foreign transaction fee, no cash advance fee, and no balance transfer fee after 45 days (early balance transfers cost $5, 2% minimum). But that’s about it!
The card currently offers a low 13.99% variable interest rate on purchases, balance transfers, and cash advances. While rates can change at any time with market interest rates, you know you’ll beat the average credit card with Ring.
Like all credit cards, just pay off your balance in full before the due date and you’ll never pay a cent in interest. If you’ve been turned off to credit cards due to past interest payments, it is important to remember that credit cards do not always mean big interest costs.
Added security when shopping
Shopping online is as normal as a brick-and-mortar store for many people, but there are some extra security concerns when your information transmits across the internet. In addition to looking for https in the website address, you might want to go a step further and use a more secure payment method online.
If you pay with a bank account or debit card online and a hacker gets ahold of your data, they can drain your bank account to zero. If you use a credit card and your information is compromised, you are protected by a $0 liability guarantee. With the Ring Mastercard®, you can just call up Barclays if you notice any fraudulent activity and they will remove it from your account.
Another common place for cards to get lost or stolen is while traveling. If you travel abroad, you’ll want to use a credit card for the same reason. As a bonus, Ring charges no foreign transaction fees (commonly up to 5%) and offers chip and PIN support. Chip and PIN is a credit card security standard (similar to using a PIN with a debit card) common outside of the United States. When traveling in Europe, for example, you’ll need chip + PIN for most self-service kiosks and self-checkouts.
Credit cards are always the safest way to pay for this reason above all else. The worst case with debit card fraud is being unable to pay your rent or buy groceries due to a drained account. The worst case with credit card fraud is a new account number. Seems like an easy choice to us.
A backup emergency fund
In an ideal world, everyone has plenty of savings reserves in case something goes wrong. A broken down car, a busted hot water heater, or a dead furnace can quickly turn into $1,000+ expenses. But sadly, about half of Americans couldn’t afford to cover a $400 expense from savings.
Even if you do have a solid emergency fund, it may take a few days to transfer funds or get access to that cash. When that’s the case, a credit card is a great option. If you pay it off before the due date, you won’t pay for those borrowed funds used to bridge the timing gap.
And if you ever need access to credit in the future, the Barclays Ring® Mastercard® can sit at the back of a drawer with no annual fee waiting to jump into action. You may want to use it for a small purchase every few months to keep the account active even if you only want to keep it for emergencies.
A perfect card just in case
It would be easy to come up with a long list of “what if” situations where a credit card could come in handy. Even if you don’t want to use a credit card for your daily spending, it is a good idea to have one. And keeping a card open with a perfect on-time payment history helps your credit score at the same time! That’s just another reason you may want a credit card.
There are a lot of credit cards from a lot of banks, but for people who don’t really like credit cards, the Ring credit card is ideal because of the low costs and convenient features. If you think there is a missing feature, you can share your ideas through the Barclays Ring community. Suggestions from cardholders helped shape the low-cost card into what it is today. If you are approved, you can share your two cents as well.
So, even if you don’t like credit cards, you might want to have one on hand anyway just in case you ever want to increase your security while shopping or an emergency arises. Barclays Ring is the perfect credit card for people who don’t like credit cards.
Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
This article was last updated September 16, 2018 but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.