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The Barclaycard Forward Credit Card is a solid credit builder card for those who are new to credit or are working to improve their credit rating. How does it compare to alternatives in the market? Read our review to find out about cash bonuses and interest rate drops.

Barclaycard Forward Credit Card Review

The Barclaycard Forward card is a credit builder card with two attractive features: the chance to earn cashback and lower your interest rate.

While this card is generally a reasonable choice for those new to credit or working to improve their credit score, there is one potential limitation you might not like. The card's minimum credit limit is between £50 and £1,200. That means you could get approved, but with only a £50 credit limit - that's not very useful. If this is a concern to you, take a look at alternative credit builders cards with a minimum credit limit 3X to 5X as big.

Always make sure you can afford repayments.

Earn a lower interest rate

Barclaycard give customers a "Price Promise" with the Forward card, which means a 3% interest rate reduction if you make all your payments on time and stay within your credit limit for the first year. In the second year, you can get another 2% reduction in your interest rate, bringing the purchase interest rate down from, or example, 34.5% to 29.5%. A lowering of your interest rate is good for your credit rating.

Bottom Line: The Barclaycard Forward has a typical interest rate and fees, but the very low minimum credit limit could be a problem for some people.

Can you earn cashback on a credit builder card?

Not available at the time of writing, Barclaycard Forward did offer cashback on their Forward credit builder card - in the past. Cardholders could earn £10 cashback every 3 months in the first year, totalling up to £40. It was earned by making at least your minimum payments on time and staying under your credit limit. If you missed a single payment or went over your credit limit even once you would no longer qualify. Be on the lookout in case this offer comes back in the future.

Barclaycard Forward Card Benefits & Features

Representative Example

Based on an assumed borrowing of £1,200 at a purchase rate of 33.9% p.a. (variable), the representative APR is 33.9% variable. No annual fee.

Income Requirement: There is a recommended £3,000 minimum income requirement on the Barclaycard Forward.

FAQs

What's the Barclaycard Forward credit card limit?

The minimum Barclaycard Forward credit card limit is £50, but it can go as high as £1,200. Your credit limit will depend on your individual situation. Higher minimum credit limits can be found for credit builders on the Vanquis Credit Card.

What's the Barclaycard Forward minimum payment?

The Barclaycard Forward is the greater of 1) £5 or the full outstanding balance if it's less than £5, 2) a % (e.g. 4.25%) of your main balance plus any purchase plan instalments due for that month or an amount equal to any recent interest and 3) default fees or account maintenance fees plus a % )e.g. 3%) of the rest of your main balance plus any purchase plan instalments due for that month.

What's the Barclaycard Forward interest rate?

The Barclaycard Forward interest rate is 33.9% variable APR on purchases | 33.9% variable APR on cash withdrawals.

Barclaycard Forward vs Initial

The Barclaycard Forward is the new credit builder card from Barclays, which replaced the Initial card.

How Does the Barclaycard Forward Credit Card Compare Against Other Credit Cards?

In order to decide if the Barclaycard Forward credit card is for you, it’s best to compare it against the closest competitors. Below we discuss the differences between the Barclaycard travel card and some other popular cards, so you can decide which is best for you.

Barclaycard Forward Card vs Vanquis Classic Card

The Vanquis Credit Card is another popular UK credit builder card. Applicants with no credit history, poor credit history or are unemployed are all considered. Initial credit limits are lower, between £150 and £1,000, with a representative APR of 42.9%. Potential applicants can use the pre-application eligibility checker to see their likelihood of being accepted before they apply (useful to help avoid an unnecessary hard credit check and a rejected application).

Quick Takeaway: You're likely to pay a higher interest rate with the Vanquis Classic, but if you're not eligible for the Barclaycard Forward card due to a bad credit rating you may still be accepted by the Vanquis Classic. It may be worth trying the pre-application check with the Vanquis Classic if you're not sure.

Learn about other credit builder cards here.