In case this is your first time to apply for a credit card or are in the process of rebuilding your credit score, then the Barclaycard Forward would suit you well. This credit card comes with a number of features; all these features are designed to enable you to make wise spending decisions as you use the card.
In this article, you will find information about the most significant and useful characteristics, the benefits, and possible minuses of the Barclaycard Forward, as well as some steps to become its owner.
Key information about the credit card
How does the annual fee work?
This Barclaycard has no annual fee which can be considered as one of the main advantages of the Barclaycard Forward. This is especially beneficial to those with little to no credit experience due to their age or credit history repair, especially those who were previously in a poor credit standing stage.
How is the credit limit determined?
The available credit for the Barclaycard Forward is individual, which means that you can receive from £50 up to £1,200. This limit is arrived based on the amount of money you borrow and your ability to repay back as per the credit history. While applying, Barclays evaluates your credit worth specifically through your earning ability, your employment status, and your liabilities.
Benefits of the Credit card
- 0% interest on purchases for the first three months: It also enables the customer to transact by purchasing something without facing the interest implications for a period of time.
- Price promise: If the payment for the earlier year is made on time, you qualify for a concession whereby your interest will be reduced by 3% for the first year. Carrying this on to the second year gives you a further 2% cut, and so on.
- Built-in alerts: With text or email alerts you are informed when your balance is due, hence solving the problem of monitoring your expenses regularly to ensure you do not transact beyond your balance.
- Fraud protection 24/7: Be secure in the knowledge that your transactions are being protected against fraudulent action whether you are shopping at home on the Internet or abroad.
Standout advantage
The best feature of the Barclaycard Forward is its price guarantee. This is especially useful for individuals aiming at gradually lowering the interest rates on the borrowed loan. By making timely payments, you can earn significant interest rate reductions: on the second year, service level would have improved by 3% and another improvement in service level by 2% after the second year.
Disadvantages
- High APR: Relative annual percentage rate, which is, in fact, representative, is 33%. The late payment fee is rather high and equates to 9% (variable) of the amount due; furthermore, this fee is also high in comparison with other credit cards.
- Limited credit limit: The limit of installment credit is £1,200, and this seems to be much less for some Credit King users.
- Strict eligibility criteria: This card is not for everyone, and if one has unfavorable credit status as well as has been blacklisted or is experiencing instability in employment, then he or she will not be considered for this card.
A standout disadvantage
The Barclaycard Forward has a number of distinguishing features; its major disadvantage is a very high variable APR of 33%. 9% (variable). The price promise is a possible effective reduction in interest rates while the APR at the beginning of the offer is relatively high and if one carries balance amount on the credit card, it may turn out expensive.
Who can apply for this card?
As mentioned earlier, it is essential for an individual or a business owner or a freelancer to qualify certain requirements for him/her to qualify for the Barclaycard Forward card. The requirements include an age of 18 years and more, and having a permanent address in the UK for the past two years. You should also be earning a minimum of £ 3000 per annum and be in employment
Further, the applicant should not have been bankrupt in the last six years or be entertaining more than one County Court Judgement. Understanding your expenditures for the entire month and also providing banking details are also important.
How to apply for the Barclaycard Forward Credit Card
For the website
To apply towards this card, you have to go to the official Barclays webpage and after that, go to the Barclaycard Forward. There is an eligibility checker that enables one to check the ability to apply for the card without influencing the ratings. The documentation process is the next step after confirming your qualification to apply, in which you are expected to complete the necessary forms consisting of your private, identity, and financial data.
Ensure that you provide the details of your two years’ history of the address, your current employment details and your main bank account. The response to your application will be sent immediately and it will time take one minute at most. If both Barbri and/or California Custom Studies approves, your Barclaycard Forward will be dispatched within seven working days.
Through the app
On the same front, one can apply for Barclaycard Forward through the Barclays mobile application. Original, install the app from the application store and sign up for an account if you don’t have it. After that offer your login details and get into the credit card options, then choose Barclaycard Forward.
First check the eligibility by going to the eligibility checker then apply for it. The app will give you step by step instructions of several questions to answer dealing with your personal, contact and financial information. Since the application is mobile, they can finish the application from any place they wish. If approved, your card will be delivered to your address in a week, that is, within seven working days only.
At the branch
However, if you would want to apply for the Barclaycard Forward, you can apply it in different Barclays branches for a face to face interview. You can directly go to the nearest branch and explain your interest in the Barclaycard Forward to the representative. They shall assist you in go through the eligibility check and they will assist you to complete the application form.
It is always advisable to carry your identification documents, your residence proof, documents that are reflective of your employment status and income. Once you have delivered your application, the decision is made within a short period and upon approval, your card shall be forwarded within seven working days and sent to your mailing address.
