If you’re a fan of credit card rewards programs, you may find yourself getting a little tired of the typical flat-rate rewards system. On the other hand, you may not be a frequent traveler or spend a ton on gas, limiting the benefit of niche rewards cards.
Enter the Barclaycard CashForward World Mastercard. On top of your typical cashback earnings, this card also gives you a bonus during redemption. That amount goes towards the next time you redeem.
We thought so. Keep reading to learn more about the Barclaycard CashForward World Mastercard and how you could benefit from getting one.
1.5% Cashback on All Purchases
Rather than having multiple or changing cashback categories, the Barclaycard CashForward World Mastercard offers an even 1.5% cashback on all purchases you make with your card. On top of that, there’s no annual fee. That means you don’t have to worry about canceling it after the first year is up or calculating your ROI to see if it’s worth keeping.
A longer credit card account life is good for your credit score, so this one may be worth keeping in your wallet, especially if you frequently flip rewards cards.
5% Cash Rewards Bonus
If the lack of an annual fee wasn’t reason enough to stick around, there’s also a 5% cash rewards bonus to use towards your next redemption. Here’s an example of what exactly that means.
If you redeem your rewards and receive $200, you then get an extra $10 the next time you redeem. When it does come time for a redemption, you’ll need a $50 minimum in rewards that you can cash in either for a gift card, a statement credit, or simply a cash deposit into your bank account.
Free FICO Score
The Barclaycard CashForward World Mastercard also offers all cardholders a free FICO score. They’ll even send you an update whenever your score changes. Unlike many other credit cards, it’s a legitimate FICO score, not an educational one using alternative modeling systems. It’s a nice perk that lets you stay on top of your credit without incurring any extra fees.
Clearly, this card is all about customer retention. In fact, there are a few more benefits to talk about as well.
There are actually a couple of different perks you can take advantage of when you sign up for a Barclaycard CashForward World Mastercard. First, you can receive a $200 cash bonus as long as you spend $1,000 on your card within the first 90 days. Also, you can receive a 0% APR promotion.
Here’s how it works.
You can get a 0% APR on your purchases for 15 months, plus 0% on balance transfers for the same amount of time — as long as you make the balance transfer within 45 days of opening your new account.
After that, you’ll have a variable APR of either 15.99%, 20.99%, or 23.99%. Whether you want a reprieve on paying interest on existing debt or want to make a large purchase you can pay off within the introductory period, you’ve got options with this card.
If you’re a frequent traveler, you can also benefit from some fairly extensive perks through this card, even if it’s not travel rewards focused. The Barclaycard CashForward World Mastercard has flexible trip cancellation and interruption insurance services for any type of travel.
How can you take advantage of these perks?
You can do so by paying for your travel arrangements with your CashForward card. Even if some of the costs are nonrefundable, you can get them reimbursed in certain qualifying situations. Some examples include illness and weather-related events. This is a lot more generous than other credit cards with rewards programs, especially if they’re not travel specific.
What is the downside to getting a Barclaycard CashForward World Mastercard?
While there certainly are a lot of benefits that come with the Barclaycard CashForward World Mastercard, there are a few cons as well. They’re worth considering before you decide if the card is a good fit for you or not.
The most obvious drawback is that there are definitely other cashback credit cards with better rewards rates. With the cashback bonus included, the Barclaycard CashForward World Mastercard’s effective cashback rate is just 1.575%. It’s competitive, to be certain, but is by no means blowing away anyone’s mind.
Added to that pitfall is the $50 minimum for redemption. Depending on your spending habits, it can take quite a bit of time before you reach that threshold. Plus, you have to wait until your next redemption to take advantage of the cashback bonus.
What kind of credit do you need to qualify for a Barclaycard CashForward World Mastercard?
You’re going to need at least good, if not excellent, credit to qualify for this Barclaycard. If your application gets declined, don’t be afraid to ask for the reason why. You should also be provided with a free copy of the credit score that was used in the decision-making process.
What do you do if it’s lower than you expected? Don’t worry.
There are a number of ways you can improve your credit score. Some are quick wins while others may take a bit of time, but it’s definitely worth looking into before you choose any new credit card. After all, low credit impacts your APR in addition to the rewards programs for which you qualify.
The Barclaycard CashForward World Mastercard may not be the most aggressive cashback rewards credit card, but it does offer consistent benefits. If you don’t spend significantly in a category served by niche rewards cards, then this is a solid general option.
This is especially true if you’re looking for a 0% APR offer along with your rewards card. And with no annual fee involved, you can take advantage of that low introductory rate and signup bonus without having to worry about whether your earning will pay for themselves.