Barclay’s Launches The First Social Credit Card
The Barclaycard Ring will be designed and built through the power of community crowdsourcing.
Barclaycard US plans to officially launch the Barclaycard Ring next month, a crowdsourced, community-powered credit card with a low rate, no annual fees and a forum for cardmembers to exchange ideas and have a say in how it works.
The Barclaycard Ring will have easy-to-understand terms that use straightforward language, an interest rate of 8% for all balances, and no annual or balance transfer fees. Other fees are simple and upfront: the late fee is a maximum of $25, the cash advance fee is $1 per transaction and the foreign country fee is 1%.