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- Barclays CashForward Bonus
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*The $200 cash bonus offer for the Barclays CashForwardTM card has expired. We will update when a new offer becomes available.
The Barclays 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 definitely worth mentioning.
We’ll review the card bonus below.
Barclays 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 Barclays 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 Barclays 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 Barclays CashForwardTM World MasterCard® are going to come from:
The Chase Freedom®
|The Chase Freedom® credit card is going to earn you a $150 bonus after you spend $500 on purchases in the first 3 months from account opening. You can also earn another $25 bonus when you add your first authorized user and make your first purchase within this same 3 month period. People like this card because it earns 5% cash back on up to $1,500 in combined purchases in bonus categories that change every quarter. The downside is you have to keep up with the quarterly categories, and activate the category each quarter before you can earn the 5%. You'll earn 1% cash back on all other purchases.There's also a 0% intro APR for 15 months from account opening on both Purchases and Balance Transfers. After the intro period, a variable APR will take over. The Balance transfer fee is 5% of the amount transferred with a minimum of $5. Many people have this as a supplemental card to use specifically on the 5% category spending, and use other other cards when it's more beneficial. The categories change each quarter, but historically they have included things like gas stations, grocery stores, and holiday shopping. There's no annual fee to be concerned with, so it fits well with such a strategy. Full Review|
The Capital One® Quicksilver® Cash Rewards
|The Capital One® Quicksilver® Cash Rewards card will earn a $150 bonus when you spend $500 on purchases within the first 3 months.The bonus offer is comparable to its top competitors, but this card earns a respectable 1.5% cash back on every purchase with no limit on how much you can earn. There are no spending categories to keep up with.|
There's a 0% introductory APR on both Purchases and Balance Transfers for the first 9 months with this card. After the introductory period, the rate will be a variable 13.99%-23.99% APR. The Balance Transfer fee is 3% on the amounts transferred within the first 9 months. People like this card because of the cash back rate, the flexibility to redeem your cash back for any amount, and there's no annual fee. Full Review
And, The Citi Double Cash Card
|The Citi Double Cash Card now has a $100 sign-up bonus offer and also earns up to 2% cash back on all purchases. You'll earn 1% cash back for all purchases charged to the card. You'll then earn an additional 1% cash back when you pay off those purchases, as long as you pay at least the minimum due. There are no spending categories to keep up with.|
There is no longer a 0% introductory APR on Balance Transfers offer for this card, but the sign-up bonus is a great substitute. There's no annual fee with this card. Full Review
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