If you do not have a perfect credit history because you have made some financial blunders in the past, you might think that there are no more opportunities for you to reconstruct your credit score. What you may not know is that Barclays Bank has the perfect credit-building credit card for you - the Barclaycard Forward credit card.
The Barclaycard Forward credit card offers options for you to either build your credit score from scratch or help repair your credit so you can apply for other credit cards that may have lower interest rates and unlock many features and perks. Additionally, having a good credit score with the help of this card can open up doors for you to apply for loans as well.
If you want to learn more about this Barclays credit card, check out the guide below to discover what's in store for you.
Build Your Credit and Get Extra Benefits With the Barclaycard Forward Credit Card
The Barclaycard Forward credit card is the best option for those who want to repair their credit ratings. This credit card has a price promise that allows you to reduce your interest rate up to 3% if you're able to make your repayments on time for the first year of your account.
If you continue to keep on making on-time payments, you can receive a further 2% reduction which totals a reduction of 5% from your current interest rate.
When you sign up for the card, you also receive manageable credit limits which can help you rebuild your credit score without a lot of financial burden on your part.
By lowering your credit limit, you can repay your debt on time and a lot easier than when you have a higher credit limit. Lastly, the card also has text and email alerts that will ensure that you pay on time to improve your credit score.
Why Credit Building is So Important
You might see a lot of emphasis on credit building in this article when you're using the Barclaycard Forward credit card. The thing about a credit score is that it also indicates your credit history.
Any past financial mishaps will be reflected on your credit history and a lot of lenders will be able to see them. Getting approved for loans and credit cards with a much lower interest rate becomes easier to apply if you have a better credit score and credit history.
It is important that you build your credit score now so you get access to better credit cards faster. If you need to repair your credit rating, this is also the best way to do it as it can help you manage your finances better until your credit score is in a much better state.
Interest Fees and Credit Limit
The Barclaycard Forward credit card offers a higher interest rate than the usual Barclaycard credit card. It has a balance transfer fee of 33.9% but the good thing is it does not have a balance transfer fee.
For cash advances, you will charge up to 33.9% of the amount. When it comes to purchases, you will have an interest-free period of up to 3 months then it will revert to 33.9% which you can take advantage of especially if you want to make a large purchase in the first three months of opening your account.
You can have four additional cards under your account. The minimum credit limit that the card will give you is £50 or as high as £1,200 but it will still depend on your creditworthiness during application.
Contact Details You Need to Know
If you wish to learn more about the Barclaycard Forward credit card, you can contact their customer service hotline at 0800 151 0900 for local calls or +44 1604 234 234 for international calls.
You can also visit their main office located at 1 Churchill Place, London E14 5HP. Cardholders with accounts can also download the Barclays app at the Google Play Store or the Apple App Store.
Simply log in to your account and you can contact customer support for help or read the FAQ section to learn more about the card.
How to Apply for the Barclaycard Forward Credit Card
Once you have decided to get the Barclaycard Forward credit card, it is time to learn how to apply for the card.
First, you can check your eligibility by using the eligibility tool found at the official website which only takes around 15 minutes to verify your eligibility. If you are eligible for the card, you can proceed to the application which is a very straightforward process.
Choose the Barclaycard Forward credit card at the official Barclaycard website. Prepare the documents needed for the application or if the bank requires you to upload them during the application. Fill up the application form and review the details as well as the terms and conditions before you submit.
Once the application is successful, you can activate the card through the bank's website or you may call their hotline to activate your card.
Learn How to Manage Your Payments
We all know that the key to success in getting the credit score that you need is to pay on time. This is why the Barclaycard Forward credit card ensures that you can always pay on time.
When it comes to paying your dues, the Barclaycard Forward credit card makes it easier and more convenient for you to do so. You'll receive notifications days before your due date so you can prepare to pay the total amount on your bill.
You can log in to the app and make the payment using your account. You can also set up a direct debit through the app so you don't forget to make the transaction.
Conclusion
When you're trying to rebuild your credit score, you should always be mindful of how you use your credit card, especially with the Barclaycard Forward credit card. Making on-time payments can help you build your credit score and with the Barclaycard Forward credit card, that might just be a possibility now that you have a credit card that does what it takes to ensure you have a better credit score in the future.
Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.
