|Highlights||Credit Card Feature|
|Things We Like||Signing bonus of $100 cash rewards|
|Our Least Favorite||No low intro APR on purchases|
|Our Verdict||Great card for unlimited 1.5% cash rewards on every purchase|
Barclaycard CashForward™ World MasterCard® has all the marks of an easy cash back solution. If collecting cash back coupons and tracking 5% cash back categories that seem to change just when the going gets good totally aren't your thing, then this card is absolutely worth a look. Instead of changing cash back categories or constantly changing cash back offers, Barclaycard CashForward™ World MasterCard® lets you earn a high flat-rate of cash back on all your purchases.
You may already be smiling at the prospect of earning straight cash back on every purchase you make, without hassles. But there are other cards that do that, so how does Barclaycard CashForward™ World MasterCard® compare? In this Barclaycard CashForward™ World MasterCard® review, you can get the lowdown on the pros and cons of this card, and get a clear picture of what this card gives you and where other cards perform better so you can pick the flat-rate cash back card that will give you more.
Things We Like About Barclaycard CashForward™ World MasterCard®
You pay no annual fee. This is one of the most important benefits to look for in a cash back card, since an annual fee can really take a bite out of cash back savings.
You earn unlimited 1.5% cash rewards on every purchase. This is, of course, the biggest benefit you get out of this card. Every purchase you charge to the card earns 1.5% cash back, with no limit on the total amount of cash back you can earn. That's a big advantage over many other cash back cards that only let you earn high cash back on a certain amount of spending each quarter. 1.5% cash back may not sound like a huge amount, but if you spend an average of $30,000 per year, which is pretty typical annual spending these days, that 1.5% would translate into $450 earned without any real effort on your part.
You can get extra cash back with the bonus offer. This card has a decent bonus offer that lets you get a $100 cash rewards bonus after spending $500 on purchases using you new card within your first 90 days after your card account is opened. So spending an average of $6 on purchases per day during the first 90 days will be enough to get you that bonus.
You benefit from a 0% introductory APR for the first 15 months on balance transfers made within 45 days of account opening. If you have credit card debt, then getting this card can help you escape interest payments for a while. You get a 0% introductory APR for the first 15 months for balances that you transfer to this account, meaning that when you transfer your credit card debt from your old card to this card, you get 15 months to pay it off without accumulating any interest. Be sure to pay off your debt before the intro APR period ends, as after that period, the standard 15.24%, 20.24% or 25.24% variable APR (depending on your creditworthiness) applies.
You get a 5% bonus every time you redeem your cash rewards. When you redeem your cash rewards, you get a 5% cash rewards redemption bonus. You can then use that bonus cash back toward your next redemption. So if you redeem $100 of cash rewards for cold, hard cash, you earn 5% of that $100 back as a redemption bonus, or around $5. When you take this 5% cash rewards redemption bonus into account, you are really earning more than just 1.5% cash back.
No changing categories. This is really a hassle-free card, since you earn cash back as you spend, automatically. No need to sign up for cash back categories or track cash back deals. Every purchase you make earns the same cash back.
Cash rewards do not expire. As long as your account is open and in good standing, your cash rewards will not expire. So you can collect as much as you want, before redeeming it for cash.
You can redeem your cash rewards easily. The cash back you earn on this card is tracked as cash rewards. Cash rewards can be redeemed for a deposit into your bank account, which is a nice option because you actually earn cold, hard cash. Many other cash back cards only let you redeem cash back as a statement credit, which only helps you when you use your credit card. Barclaycard CashForward™ World MasterCard® also lets you redeem your cash rewards as a statement credit if you want to, and you can also choose to redeem for gift cards.
Enjoy World MasterCard® perks. This card is a World MasterCard®, which entitles you to benefits like price protection (get reimbursed for the difference when you find a lower price on something you bought with your card), extended warranty for things you buy with this card, and a concierge service to take care of bookings or help your shop for gifts or any other items (a big time saver). You get a personal travel advisor, which is basically a travel agent service that helps you arrange and book your travel without any service fee. You also get access to the MasterCard Airport Concierge™ service which includes meet and greet services by dedicated airport concierges who can shuttle you through the airport, provide translations services and help you fast track through immigration's at 450 airports around the world (you will have to pay for meet and greet service, but you get a 15% discount).
Chip technology to help protect you from fraud at chip-enabled merchants. This card comes standard with EMV chip technology, which is rapidly becoming the new standard. This technology also makes your credit card less vulnerable to skimming.
You get free online access to your FICO® Credit Score. This is a nice perk which most credit cards don't offer, and it can save you money since you would normally have to pay to access your FICO Score. Knowing your score helps you know what credit products you are eligible to apply for, which is important if you are considering applying for a phone contract, a personal loan, a mortgage, an insurance policy or many other services that require good credit.
$0 Fraud Liability protection. If your card is lost or stolen and used fraudulently, you won't have to pay Barclaycard for these fraudulent transactions. That gives you a lot of peace of mind in this era of identity theft and data breaches.
Our Least Favorite Things About Barclaycard CashForward™ World MasterCard®
No low intro APR on purchases. This card doesn't have a low introductory APR period for purchases so you will have to pay the 15.24%, 20.24% or 25.24% variable APR(depending on your creditworthiness) on purchases from the very start.
You have to collect $50 of cash rewards before redeeming. Some cards let you redeem cash back any time you choose, for any amount. With this card you will have to accumulate just over $50 before you can redeem it.
You pay a balance transfer fee when you transfer a balance to this card. That fee is 3% of each balance transfer, but never less than $5. Most credit cards have a similar fee. If you have a large credit card balance, the money you save on interest thanks to the 0% intro APR for 15 months on balance transfers made in the first 45 days after account opening will normally make this fee more than worth it. After the intro APR period a 15.24%, 20.24% or 25.24% variable APR applies.
You pay a high cash advance fee of either $10 or 5% of the amount of cash you draw as a cash advance, whichever is greater. So if you are in the habit of using your credit card to get cash from ATM's, don't use this card to do it or you will pay dearly.
You pay a foreign transaction fee. When you use this card to pay in a foreign currency, for example when traveling outside of the U.S., you pay a fee equal to 3% of each transaction in U.S. dollars. If and when you travel outside of the U.S., make sure to use a credit card with no foreign transaction fees.
How Other Cards Compare With Barclaycard CashForward™ World MasterCard®Citi® Double Cash Card – 18 month BT offer, a partner card, is a strong contender to this Barclaycard. You earn cash back twice on all purchases, because you earn unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. As long as you pay your credit card bill in full every month, you can calculate the cash back you will earn very easily. So this card could potentially give you higher cash back than Barclaycard CashForward™ World MasterCard® , but the way it works is more complicated, especially if you don't pay off your balance in full each month. This cash back card from Citi has a 0% intro APR on balance transfers for 18 months (click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases). A 13.49% - 23.49% variable APR applies after the intro APR period. Citi® Double Cash Card – 18 month BT offer has no annual fee, just like Barclaycard CashForward™ World MasterCard® . Unlike the Barclaycard, this Citi card does not come with a bonus offer. All things considered, Citi® Double Cash Card – 18 month BT offer is an excellent cash back card that could help you earn more cash back than Barclaycard CashForward™ World MasterCard® . However, the way you earn cash back with Barclaycard CashForward™ World MasterCard® is a bit more straightforward.
Capital One® Quicksilver® Cash Rewards Credit Card is probably the closest thing to Barclaycard CashForward™ World MasterCard® as far as the benefits and cash back you earn go. This MasterCard has a bonus offer which lets you earn a one-time $100 cash bonus after charging $500 or more of purchases to this card within 3 months of approval (almost identical to what Barclaycard CashForward™ World MasterCard® offers). You earn 1.5% unlimited cash back on every purchase you charge to this card, which is also practically identical to the cash back you earn with Barclaycard CashForward™ World MasterCard® . But it doesn't offer a rewards redemption bonus like Barclaycard CashForward™ World MasterCard® does, so you actually can earn slightly more cash back by using Barclaycard CashForward™ World MasterCard® . This card has a 0% intro APR on purchases and balance transfers for 9 months (a 3% fee applies to each balance transferred) and a 13.49% - 23.49% variable APR after that. It has no annual fee, just like Barclaycard CashForward™ World MasterCard® . Like the Barclaycard, this Capital One card lets you earn a high flat rate of cash back without any categories and other hassles. However, Barclaycard CashForward™ World MasterCard® is a better cash back card thanks to the 5% cash rewards redemption bonus you earn when you redeem cash back.
Barclaycard CashForward™ World MasterCard® comes with good benefits and strikes a good balance between offering uncomplicated cash back earning and a high rate of cash back. Daniel Dreier
Barclaycard CashForward™ World MasterCard® is one of the least complicated cash back credit cards you could use. But at the same time it offers some flexibility when it comes time to redeem your cash back, since you can redeem into a bank account, for statement credit or for gift cards. Thanks to the bonus you earn when you redeem your cash rewards, you actually earn very decent overall cash back by using this card. Because this is a World MasterCard®, you get a lot of unique benefits, and the free FICO Score access offered by Barclaycard is a definite plus.
If you want a card that earns cash back when you use it for any purchase, with no hassles and no funny business, then Barclaycard CashForward™ World MasterCard® is a good option.
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