This review looks at the Barclaycard Forward credit card, which is a credit builder card. It is designed for people who are new to credit or those with poor credit.
You are likely to be accepted if you haven't been declared bankrupt in the past six years and don't have more than one CCJ.
Key facts about the Barclaycard Forward credit card
Best for: Those looking for a credit builder card with some extra benefits.
Introductory offer: 3 months interest-free on purchases.
Representative APR: 33.9%.
Fees: No annual fee.
Perks: Access to Barclaycard Entertainment, which offers discounts on events and days out.
Pros of the Barclaycard Forward credit card
- You can reduce the interest rate by 3% if you make all of your payments on time during the first year of having the card. After that, you can secure another 2% reduction if you make all your payments over the course of the second year.
- The interest-free period on purchases is quite unusual for a credit-building credit card, as are the perks of the discounts available through Barclaycard Entertainment.
- Interest free for 56 days if you pay your balance in full on time each month.
Cons of the Barclaycard Forward credit card
- Starting credit limit as low as £50.
- The APR is quite high so it's important not to get carried away with the interest-free introductory offer on purchases.
- £12 default fee for each late repayment.
How to manage your payments on the Barclaycard Forward credit card
There are online and mobile banking options, including the ability to set up reminders and notifications to help manage the account efficiently.