17 July 2018
Register today

Barclaycard US opens up 'social' credit card

17 April 2012  |  3837 views  |  0 Source: Barclaycard US

Barclaycard US, the payments business of Barclays in the United States, today announced the availability of the first social credit card designed and built through the power of community crowdsourcing.

Previously in alpha testing, Barclaycard is now welcoming new cardmembers to join the Barclaycard Ring MasterCard card community.

"We have learned a great deal from our first cardmembers and are thrilled to be able to open up the Barclaycard Ring community to see how the product will begin to evolve based on the needs and collective input of our customers," said Paul Wilmore, Managing Director-Consumer Markets, Barclaycard US. "Offering our cardmembers simple, transparent terms as well as the opportunity to help decide how this card can best work for them is all part of our vision to revolutionize the credit card business."

The Barclaycard Ring MasterCard card has simple, easy-to-understand terms and benefits, including:

  • One, low 8 percent interest rate for all balances (not 7.99%).
  • No annual fees.
  • No balance transfer fees, enabling revolving credit card holders to transfer balances from higher interest-rate reward cards and still earn points.
  • Giveback, allowing community members an opportunity to share in the profit generated from their collective decisions.
  • A simplified summary of the standard cardmember agreement.

The Barclaycard Ring community provides a forum where cardmembers can exchange ideas, share knowledge and provide direct feedback to Barclaycard US to help determine future product features. Through weekly online polls, the current community has already provided input on topics ranging from product feature preferences to marketing programs.

"We know that interest rates are still very much top of mind among our cardmembers as one of the most important considerations when choosing a credit card and one of the most important topics they want to have a voice about -- along with fees and rewards," Mr. Wilmore added. "Yet our community has also told us that it wants a say in the direction of the card program in other areas such as servicing and how the GiveBack™ is administered, which allows the community to share in the program's profitability. We have a highly engaged group within the community and we expect this engagement to grow."

In the future, the Barclaycard Ring community will have an opportunity to voice its opinions about specific product features and community functionality.

To support the new credit card, Barclaycard US has also developed a dynamic new online community and servicing website that simplifies the account management process for the cardholders. The web servicing site for Barclaycard Ring represents a new digital service experience for Barclaycard with enhanced functionality and easy to use tools. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit http://go.jumio.com/finextraAdVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
10431 views comments | 19 tweets | 30 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
9412 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8772 views comments | 6 tweets | 14 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
7764 views comments | 1 tweets | 5 linkedin
Banks stand to reap $512 billion revenue boost from 'intelligent automation'Banks stand to reap $512 billion revenue b...
7559 views comments | 21 tweets | 30 linkedin

Featured job

to GBP £90K base, double OTE (estimate)
London, UK or Europe

Find your next job