Barclaycard CashForward World Mastercard review

If, like many cardholders, you keep forgetting about your earnings and need some extra incentive to cash out your rewards, the Barclaycard Cash Forward World Mastercard could be a useful addition to your wallet. This otherwise straightforward cash back card sets itself apart from its competitors by offering an extra 5 percent bonus each time cardholders claim their earnings. The 5 percent bonus isn’t huge. However, it’s large enough to push this card’s annual earnings past many of its competitors.

Cardholders who value simplicity over complicated rewards schemes – or who are looking for a lucrative way to supplement their rewards card earnings – will also appreciate the card’s flat rewards rate on every purchase.

A substantive bonus for every purchase

Unlike many rewards cards that reserve the best bonuses for certain types of purchases, such as restaurant spending or groceries, the Barclaycard Cash Forward World Mastercard grants the same 1.5 percent cash back rate on every purchase. That’s a nice perk for cardholders who don’t want to keep track of their spending or who don’t spend a lot of money on preset categories, such as gas or travel. Using a cash back card with a flat rate on every purchase is also a smart move for rewards card users who earn a large bonus on some purchases but only earn 1 percent back on general spending.

Extra rewards for redeeming quickly

The Barclaycard Cash Forward card also ekes out more value than most 1.5 percent cash back cards thanks to its modest redemption bonus. Each time cardholders claim their cash, they receive a 5 percent bonus on their earnings. The bonus by itself is small. A $50 rewards redemption, for example, only nets $2.50. However, it can add up quickly if cardholders take the time to redeem their cash at every opportunity.

Some restrictions on redemption

Because of the extra amount of cash back cardholders earn when they redeem their earnings, the Cash Forward card does restrict how soon you can claim your cash. Unlike most cash back cards, you have to wait until you’ve earned at least $50 before you can redeem your earnings. That could take a while if you aren’t a heavy spender. However, if you use your card frequently, you should hit the $50 spending threshold relatively quickly.

Large sign-up bonus

The Barclay Cash Forward card is currently offering $200 to new cardholders who manage to spend $1,000 in the first 90 days after their account opening. This is one of the largest sign-up bonuses currently available, and adds a lot of value to the card.

In addition, the Cash Forward card offers a 0 percent APR on balance transfers for up to 15 months, which is pretty good for a cash back card. Many balance transfer cards give cardholders just 12 months to pay down a balance. The Cash Forward card doesn’t offer a 0 percent APR on purchases, though, so cardholders who want to make a big purchase and need help paying it down should look for another card.

A high APR

With a high APR on standard purchases, the Barclaycard Cash Forward World Mastercard is a poor choice for carrying a balance. Cardholders with the best credit scores are given a 15.99 percent APR, which is just barely below average for a cash back card. Meanwhile, cardholders with lower scores could get socked with an APR as high as 23.99 percent, which is extremely high for a general purpose card.  To get the most out of this card, you’re better off reserving it for purchases you can easily afford.

Why get the Barclaycard Cash Forward World Mastercard?

• You often forget to redeem your credit card rewards and could use an extra incentive.
• You want a hassle-free card with the same flat rate on every purchase.
• You need to carry a balance and are looking for a card with a lengthy balance transfer promotion and a solid everyday rewards program.

How to the Barclaycard Cash Forward World Mastercard:

• To maximize your cash back, use your card for all or most of your purchases.
• Be patient while waiting for your cash. If you aren’t an especially heavy spender, it could take a while before you earn $50 to cash in.
• Pay off your cards in full each month in order to avoid paying interest.
• Do the math before you take advantage of the card’s 0 percent balance transfer offer. If you wind up with a high APR and can’t afford to repay your balance in 15 months, you could regret transferring your balance.

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