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Barclaycard credit card review: Gold

ALL that glitters is not gold - as even Spandau Ballet and John Suchet would surely agree - but that doesn't stop the Gold credit card from Barclaycard outshining the competition.

With one of the longest balance transfer deals on the market at the moment, the Barclaycard Gold credit card is an ideal tool for paying off expensive debt over a number of months.

The credit card is also suitable for those with only an average credit history, making it an excellent choice for those looking to strengthen their credit scores.

However, an unusually high average interest rate and an allocation of payments clause that requires balance transfers to be paid off before anything else means that the Barcalycard Gold credit card really is a one-trick pony.

That is, it should be used either for purchases or for making a balance transfer.

Once you've decided on what you're going to use it for, though, there are a number of services available to Barclaycard Gold credit card holders.

Barclaycards now all come equipped with active fraud monitoring and you'll have access to a free identity fraud help and advice phone line. With Mybarclaycard you can also monitor your credit card account online - one of the best ways to stay safe as well as being useful day to day.

We're also impressed to see that Barclaycard are offering a free text alert service to remind you when the next monthly repayment is due.

If things do go wrong, there's also extra protection with Purchase Delivery Protection as well as emergency card replacements and cash advances if you ever lose your Barclaycard Gold credit card.

Finally, Barclaycard Gold credit card holders will be able to use the latest contactless technology. It's still more a gimmick than a genuinely useful feature but handy if you often make purchases under £10 in big chains, particularly in the capital.

All in all, use the Barclaycard Gold credit card correctly and your finances will be golden; for more on how exactly to do that, see below.

Interest Rates and Fees
		Notes..
Typical APR	19.9% APR (variable)	The typical APR is the rate most people are offered.
Balance Transfers	0% until 1 September 2011 On amounts up to £5,000	On amounts up to £5,000. Balances must be transferred within 60 days of account opening to qualify. Payments are applied towards promotional balance transfers before purchases, cash withdrawals and charges (except default charges which are repaid first).
Balance Transfer Fee	2.5%
Cash Withdrawal Rate	27.9% p.a. (variable)
Cash Withdrawal Fee	2.5% (£2.5 minimum)
Annual Fee	None	-
Foreign Transaction Fee	2.75%	This fee will be charged if you make a purchase or cash withdrawal in a foreign currency.

Rewards
		Notes..
Reward #1	Barclaycard Freedom	Earn up to 1% in Reward Money on all your purchases with participating retailers. Reward Money can be redeemed towards future purchases at the checkout of any participating retailer. Barclaycard Freedom participating retailers include: - Shell: 0.5% (Earn only, no redemption) - Goldsmiths - Blue Inc - Yo! Sushi - Pizza Express - Firebox.com - npower - LA fitness - Nationwide Autocentre - gourmet burger kitchen - Just Tyres - Officers Club - Barclays - Flight Centre - Watches & Switzerland - F.HINDS - Mappin & Webb - petroleum - BSM - Bales Brothers - Lewis & Clarke - Give by George Davis - JustGiving
Reward #2	Thomas Cook Discounts	Book your holiday through the Barclaycard Travel Service and get a discount of 7% or more with Thomas Cook and over 150 tour operators. Thomas Cook will also waive their standard 2.25% credit card booking fee for Barclaycard cardholders.
Reward #3	Barclaycard Unwind	Exclusive access to entertainment tickets, must-see gigs and one-off live sessions with Barclaycard Unwind.

Cardholder Services & Extras
Online Account Management		You can log in to the Barclaycard web site and manage your Barclaycard Gold credit card account online. An optional free text alert service offers a text message to your mobile 5 days before your Barclaycard payment is due.
Fraud Guarantee		You won't be held liable for fraudulent use of your Barclaycard as long as you notify Barclaycard as soon as you become aware of it or notice anything suspicious on your account.
Fraud Monitoring		Barclaycard will look out for any unusual activity on your account and contact you to make sure it's not fraudulent.
Identity Protection		Identity Protection Service Barclaycard provide a confidential helpline if you think you may be a victim of Identity theft or if you just want advice on how to avoid it happening.
Verified by Visa		An extra layer of security when shopping online. Register and set up a password-protected identity-check when you shop online with participating online retailers.
Purchase Protection Insurance
Purchase Delivery Insurance		Covers brand new goods bought with your Barclaycard Gold credit card if they don't arrive or are delivered damage and you are unable to resolve the issue with the supplier. Covers goods bought online, over the telephone and in the high street if goods are delivered.
Comprehensive Travel Insurance		Free single trip travel insurance When you book your holiday (between 2 and 21 days long) through the Barclaycard Travel Service. Up to 5 friends and family members travelling with you will be covered. Exclusions and terms and conditions apply.
Travel Accident Insurance
Travel Inconvenience Insurance
Assistance Abroad		Worldwide Assistance Free help if anything goes wrong while you're abroad. Barclaycard can help you in the case that anything goes wrong whilst you are abroad. They can provide legal assistance, medical emergency help, arrange flights and transport to get you home as quickly as possible, interpretation, send a message home, and help with lost or stolen documents.
Emergency Card Replacement		Barclaycard will get you an emergency card replacement if yours is lost or stolen anywhere in the world. Barclaycard can also arrange an emergency cash advance of up to £1,000 a week (subject to available funds on your account), and they'll even refund the cash handling fee.
OneTouch Payment System		Visa payWave A contactless payment technology that allows you to pay for purchases costing £10 or under with just a 'touch' of the credit card at participating retailers (mainly around London travel services).
Other Extras	- 10% off Barclays Annual Travel Insurance - 24 hour Customer Services.
Optional Extras	These are extras that you can choose, but you will have to pay for them. - Card Protection - Payment Protection - Everyday Cover - Identity Theft Protection.

Payments & Payment Details
		Notes..
Credit Limit	£250 minimum	Maximum credit limit subject to status.
Interest Free Period	Up to 56 days	For purchases if you pay your statement balance in full and on time each month. There is no interest free period on balance transfers, cash withdrawals or credit card cheques outside of any promotional offer.
Minimum Monthly Payment	2.25% (£5 minimum)	The minimum monthly payment will be the greater of: - 2.25% of your outstanding balance, OR - £5.
Allocation of Payments	Default Charges » Promotional Balance Transfers » Promotional Purchases » Purchases, Balance Transfers & Other Charges » Cash Withdrawals
Default Charges	£12	This is how much you will be charged for late payments, returned payments and if you go over your credit limit.
Copy of Statement Fee	£3	This is the fee you will be charged for duplicate statements.

Card Details
		Notes..
Online Application	Yes	Remember: always ensure you meet the application requirements before applying, as getting rejected can affect your credit score.
Card Type	Classic
Payment Company	Visa	The company who provides the payment technology and infrastructure to allow you to use this credit card. Retailers and ATM machines displaying the 'Visa' logo will accept this credit card.
Card Issuer	Barclaycard	The bank who issues this credit card. Barclays Bank 1 Churchill Place London E14 5HP
Card Advertiser	Barclaycard	The company who advertises and promotes this credit card.

Review Continued...

With a long promotional rate on balance transfers as well as a dazzling array of cardholder services the Barclaycard Gold credit card really is a treasure.

0% on Balance Transfers

That lengthy 0% interest rate on balance transfers is the Barclaycard Gold credit card's headline-grabber and rightly so.

The chance to pay off borrowing from elsewhere that's accruing interest at a high rate shouldn't be sniffed at: it can save hundreds of pounds even on fairly small balances.

In the case of the Barclaycard Gold credit card, amounts up to £5000 are included in the promotion when the amount is transferred within the first 60 days of the account opening. To make the most of the promotional rate we'd advise having the details of the balances you want to transfer to hand when you apply.

There is a 2.5% fee applied to the amount you transfer but the amount you'll save in interest will almost always far outweigh this.

It's also worth making sure that you're well aware of the Barclaycard Gold credit card's allocation of payments clause. Under this clause, monthly payments will be applied to your 0% balance transfer first so any purchases you make will accrue interest until you pay the balance transfer back in full.

This shouldn't pose a problem as long as you don't use the Barclaycard Gold credit card at all while you're paying off a 0% balance transfer: lock it away, freeze it 'Confessions of a Shopaholic' style - just don't spend on it.

Get Your Credit Score up to Scratch

If you don't need to use the 0% balance transfer offer the Barclaycard Gold credit card is likely to be most useful to you as a means of keeping your credit score up to scratch and getting extra protection on your purchases.

To apply for the Barclaycard Gold credit card you'll need to be over 21, have had a permanent UK address for the last three months, a regular income of over £17,500 per annum and an 'average credit rating'.

An average credit rating won't involve: any bankruptcy, CCJ or IVAs in the past five years; more than two other credit commitments and any missed credit card or loan payments in the past year.

This might sound pretty stringent but with credit increasingly hard to obtain, the Barclaycard Gold credit card could be the extra rung on the credit ladder particularly if you're finding it difficult to obtain reward or introductory-rate credit cards.

The Barclaycard Gold credit card does have a fairly high average APR of 19.9%, but is still suitable for making purchases which can be paid back within the generous up to 56 day interest-free period.

Added Protection
The Barclaycard Gold credit card also has a number of added fraud and identity protection features, over and above that offered to credit cardholders under law as part of section 75.

There's a helpline which offers advice and help on identity protection and your account will be monitored for any unusual activity which could be fraudulent.

There's also extra protection on delivered purchases - covering any loss or damage the supplier won't cover - and a replacement card and cash if your Barclaycard Gold credit card is lost or stolen.

All in all, the Barclaycard Gold credit card offers a way out of expensive debts on other credit cards and solid, safe credit card spending once the offer is over.

Apply Online for Barclaycard Gold credit card »