Here’s a credit card deal you don’t see everyday!
After a number of emails came in regarding the newest credit card offer from Barclaycard, we thought we’d do a quick review of the card as well as point you to the current sign-up bonuses associated with it.
Barclaycard, a subsidiary of Barclay Bank, has issued a US Airways Dividend Miles World Mastercard that comes with some fantastic bonuses and perks for those whom are eligible. Below is the current reward structure. Use the link below to get the 50,000 bonus miles!
Current Reward Structure:
- Earn up to 50,000 bonus miles on qualifying transactions (read more about these below)
- Exclusive: Redeem for flights for 5,000 fewer miles
- Snag 2 miles per $1 on US Airways purchases
- Plus, earn 1 mile per $1 spent everywhere else
- Two roundtrip companion tickets each year (My favorite perk!)
- Zone 2 priority boarding on every flight
- First class check-in
What are the qualifying transactions required to get the bonus?
Unlike many credit cards in the travel and hotel space, this card offers a boat load of up front miles for doing practically nothing. Right now, those who apply and are accepted for the US Airways Dividend Miles World MasterCard will net themselves 50,000 bonus points after their very first use of the card. Either a regular purchase or balance transfer is acceptable so long as it’s not later returned. You’ll also have to pay the first year’s fee which is $89.
What’s the annual fee and is it ever waived?
Normally we gripe about credit cards with annual fees here at BankVibe, however, Barclaycards in general feature significantly lower annual fees than most credit cards. For instance, the annual fee with this offer (as mentioned above) sits at just $89. To put this in perspective the average annual fee for frequent flyer type credit cards is roughly $149, with some as high as $199 (and far less rewards).
Our only bone to pick with the annual fee on this card is that it is not waived for the first year. Typically travel credit card issuers will try to real in new customers by enticing them with no annual fees for the first year. I guess since Barclay keeps their fees so much lower than the competition, they figure imposing this in year one wouldn’t be a major detriment to new sign ups.
Here’s a little secret that I’ve found to work really well with credit cards and their annual fees though. When your second year comes up, call the issuer and say you’re going to cancel the card if they don’t waive the fee for you. Find a couple cards without annual fees and tell them you’re just going to switch to those as they are cheaper. 9 times out of 10 this will work. I’ve used the tactic 3 years running and have never struck out! I know it sounds a little cheap, but it just takes 10 minutes of your time to save between $90 and $200 bucks.
Do I need a promotional code for the free flights and bonus miles?
NO! They are making these rewards eligible to anyone for a limited time only. When major credit card issuers release promotional offers they typically control the inflow of new account holders by issuing promotional codes. These promotional codes usually go out via direct mail to consumers in a specific demographic they are targeting, however, Barclaycard is going a more inclusive route with this offer by making it available to everyone. In our opinion though, promotional codes don’t really make sense as they so frequently get passed around the internet and sold on EBay. By the time they are used they may have been passed to several different people – not just the individual the bank was aiming for.
What sort of credit score do I need?
There’s not too much specific information regarding an exact credit score required with this card. According to FICO, one of the three major credit bureaus, a recommended score of 700 is suggested for a high approval probability. However, they go on to state that lower credit scores may also be accepted. Each applicant is considered on a case by case basis.
Can I use this as a balance transfer card?
You may. It is currently being featured with a promotional 0% APR on balance transfers for the first 15 months. This is subject to change at anytime.
Have you applied for the card? Let us know what you think about it by leaving a comment!