The Barclaycard CashForwardTM World MasterCard® has an updated offer where you can now earn a $200 cash bonus after spending $1,000 in purchases in the first 90 days after account opening.
A $200 bonus is one of the best around for a card with no annual fee. The ongoing cash back earning potential of this card is also fairly good, but not the best.
MoneysMyLife readers love earning bonus money, and this card is worth mentioning.
We’ll review the card bonus below.
Barclaycard CashForwardTM Card $200 Bonus
Spend $1,000 on purchases within 90 days of account opening to earn the $200 bonus.
On top off a good bonus offer, the Barclaycard CashForwardTM World MasterCard® also earns a respectable 1.5% cash back rewards rate. Plus, when you redeem, you’ll receive a 5% bonus that can be used towards your next cash back redemption. In terms of straight cash back, cards like the Citi Double Cash and Fidelity® Investment Rewards® American Express® Card both will earn a higher 2% rate. Those two competitors don’t offer a sign-up bonus though.
Because the CashForwardTM card gives you a 5% bonus with each redemption, it earns better than the 1.5% flat rate with the Capital One® QuickSilver® Cash Rewards card.
We like that you have the option of redeeming via deposits into your bank account, as statement credits, or as gift cards, and the redemption rate will be the same.
One thing to keep in mind, this isn’t a good card for traveling outside of the United States, as you’ll get hit with a 3% foreign transaction fee on purchases abroad.
Because there’s no annual fee and the 1.5% rate is good on all purchases (regardless of purchase categories) with the Barclaycard CashForwardTM World MasterCard®, it’s a solid option for an ongoing use credit card. The ongoing 5% bonus towards your next redemption is a great little extra perk that effectively gives you a rate anywhere between 1.51% and 1.57%.
How To Get The $200 Cash Bonus
While $1,000 in purchases within 90 days of account opening isn’t much to ask, if you’re applying for multiple card bonuses and need ideas on how to meet the minimum spending requirements, see our guide here.
The guide includes popular ways of meeting the spending requirements, including:
- Funding opening deposits with credit cards for bank bonuses. We write a lot about bank promotions here at MoneysMyLife, and many banks allow credit card funding towards the opening deposit. It’s a good way to meet the card spending requirements, while earning cash bonuses for Checking and Savings accounts. Read the details on credit funding here, and see current bank bonuses here.
- Purchase gift cards with your credit card. Buying gift cards to your favorite stores and supermarkets is a great way to help meet the spending requirements, and these gift cards usually don’t have extra purchase fees. American Express and Visa Gift Cards offer flexibility, but will have purchase fees. Be sure to call customer service and set your Cash Advance limit to $0 before purchasing gift cards as issuers like Citi can often categorize gift card purchases as Cash Advances and charge a fee. See gift card ideas here.
- Rent, Mortgage, Etc. Typically, your apartment rent and Mortgage payments need to be deducted directly from your Checking account. Many people don’t realize that there are 3rd party services that will help you make such payments using your credit card. Keep in mind, these services will collect a small percentage in fees. Read our guide for more details.
What’s The Competition?
Competitor card bonuses for the Barclaycard CashForwardTM World MasterCard® are going to come from:
The Chase Freedom®
The Capital One® Quicksilver® Cash Rewards
And, The Citi Double Cash Card
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