New Cash Rewards Credit Card Offers Redemption Bonus
A new credit card from Barclays offers cash back rewards, as well as a redemption bonus when cardmembers redeem their rewards.
The Barclaycard CashForward World MasterCard gives folks 1.5% cash back on every dollar they spend, plus a 5% bonus on their next redemption every time they cash in their reward. Barclays estimates that a person who spends $600 on groceries, $300 on utilities, $300 on gas, $250 on restaurants, and $250 on other purchases per month could earn more than $300 in cash back over the course of a year.
The cash back is for all purchases in any category, with no rotating bonus categories. This straightforward earning approach will be appreciated by people who don’t want to keep track of which card to use where, or worry about remembering to sign up for quarterly promotions, said the head of branded cards at Barclays U.S., Rachana Bhatt. “There’s no need to choose categories or worry about which card to use because cardmembers get the same great cash rewards every time and place they shop.”
Rewards for the future
The 5% redemption bonus is a new feature in credit card rewards. It works like this: say you redeem $100 in cash back rewards. Next time you redeem your rewards, you’ll get an extra $5 on your cash back. Every time you redeem, you’ll get that extra 5% from your last redemption.
Cardholders can redeem their cash back as a statement credit, a gift card, or have it deposited directly into their bank account. Cash back rewards won’t expire as long as the account is in good standing and remains open.
More cardholder benefits
Besides cash rewards and future redemption bonuses, the card offers complete protection from unauthorized use, with $0 fraud liability and chip technology to keep user information secure. Chip technology also makes the card easy to use overseas.
An identity theft hotline gives folks access to certified specialists who will walk them through the necessary steps in case their card is compromised, including notifying credit bureaus, helping with affidavits, replacing cards, and putting alerts on accounts.
Free FICO scores let cardholders know where they stand with the credit bureaus, and take control of their financial well being by monitoring the ups and downs of their credit score each month. Cardmembers will receive alerts when their FICO score fluctuates, and can access the score for free when they log into their account online.
Latest Other Card News
2020 has definitely been a very unusual and challenging year. Many of us have been waiting for its end more than ever. And now, when there is less than a week left until the beginning of the new year, it’s time to sum up the outgoing one and find out the results of the annual […]
Walmart is finally ready to introduce a new subscription service offering free same-day delivery and fuel discount. Walmart+ was supposed to go live back in July, however, it was delayed due to the COVID-19 outbreak. Now the launch is planned to take place on September 15. The new product will help you order any goods […]
This month, American Express introduced its new tool called MyCredit Guide. The Amex website says: “We believe everyone should know their credit score and have the tools to understand it better.” That’s why the new feature was developed. Using the tool, you can find out your credit score and take a look at your credit report, […]
A virtual credit card is a unique credit card number that is linked to your main credit card account but is different from the physical card number. The virtual credit card number allows to shop online or over the phone without using your physical credit card. The numbers can usually be used once and expire if not used. The cardholders can also delete the numbers if they want or need to.
The results of the 2019 Debit Issuer Study, commissioned by PULSE®, a debit/ATM network, and conducted by Oliver Wyman, a global management consulting firm, show that consumer debit use has skyrocketed in the last year and will keep soaring. In 2018, the number of debit transactions increased by 6.7% reaching more than 68 billion. According […]