The Barclaycard Ring® Mastercard® is a good balance transfer credit card for people with good credit or better. ... As good as the Barclaycard Ring Mastercard is for balance transfers, it's equally bad for new purchases. The Ring Card does not have rewards, for one thing. There's also no low intro APR for purchases.
0% interest on purchases for up to 20 months
From the date you open your account.
NerdWallet's Best 0% APR and Low Interest Credit Cards of May 2021
Balance Transfers
| Introductory rate | Monthly interest rate |
|---|---|
| 0% interest for up to 18 months from account opening with a 2.9% fee on transfers made within 60 days of opening your account. The amount transferred must not exceed 90% of the available credit on your account. | 1.6625% |
Best Balance Transfer Cards
The Ring is a low-interest card, with one of the lowest regular APR's you're likely to find on a credit card (although it used to be even lower, at 8%). There's no annual fee and no foreign transaction fee. The interest rates and fees are the real selling points of the card, rather than rewards or sign-up bonuses.
Put time on your side
And when you make purchases on your credit card, you'll get up to 56 days interest-free, when you pay in full and on time. So, if you're planning on making a large purchase, take the maximum advantage of your interest-free period by making your purchase on the first day of your billing cycle.
A 0% APR means that you pay no interest on new purchases and/or balance transfers for a certain period of time. The best 0% APR credit cards give 15-18 months without interest.
In general, we recommend paying your credit card balance in full every month. When you pay off your card completely with each billing cycle, you never get charged interest. That said, it you do have to carry a balance from month to month, paying early can reduce your interest cost.
Centurion® Card from American Express
Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.
A good APR for a credit card is 14% and below. That's roughly the average APR among credit card offers for people with excellent credit. And a great APR for a credit card is 0%. The right 0% credit card could help you avoid interest entirely on big-ticket purchases or reduce the cost of existing debt.
Balance transfers won't hurt your credit score directly, but applying for a new card could affect your credit in both good and bad ways. As the cornerstone of a debt-reduction plan, a balance transfer can be a very smart move in the long-term.
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