You’re nearly there - we just need a few more details

Here’s what you need to know about how to get a reduction in your interest rate over the first couple of years.

• We’ll reduce your cash and standard rate in the first two years as long as you stay within your credit limit and make at least your minimum payments on time. The rate reduction will be 3% in the first year and 2% in the second.
• If you don’t qualify in the first year but qualify in the second year you will get a reduction of 3% in that year.
• The rate reduction starts from the date you receive your statement on the anniversary month of when you open the account.
• Your interest rates will move up and down in line with changes to the Bank of England Base Rate. This means that if your rates go up or down due to a Base Rate change then any Price Promise reduction you get will be applied to that new higher or lower rate.

Making minimum payments

Making minimum payments could help you get a rate reduction but remember the longer you take to pay off your balance, the more interest you’ll end up paying. Just by paying a little more each month, you could clear your balance sooner than you think, and pay less in interest.

Enter your current details into our Repayment Calculator and see the difference a few pounds extra can make.

It’s important to understand how credit cards work, especially if you’re new to credit. If you decide to apply, please make sure you read the sections below carefully as it provides important information about how interest is charged and how to manage your account.

It’s important to stay within your credit limit

Barclaycard Forward comes with a personalised credit limit based on what you can afford. Going over your credit limit not only means a £12 fee but it’ll also impact your credit rating. You can set up alerts to let you know when you're getting near to your credit limit so you can either make a payment or slow down on the spending. 

Help to make sure you pay on time

You can choose a payment date when you’re more likely to have money in the bank and there's a couple of options when it comes to setting up a Direct Debit.

• Minimum amount – this helps avoid paying late payment fees but only meets the minimum requirement. It won’t help in the long run unless you’re making additional payments, especially if you continue to use your card. That’s because you could end up paying more in interest than towards the amount you’ve borrowed.
• Fixed amount – Decide how much you can afford to pay and set your monthly Direct Debit for that amount. If it falls below the minimum amount, we’ll increase it to ensure you don’t get charged a fee. It’s a good idea to review the fixed amount every few months to make sure it’s meeting your needs.
• Full amount – This is the best option if you can afford to do it as it limits the amount of interest you pay.

Built in alerts to help manage your account

With Barclaycard Forward, you’ll get alerts to let you know when your balance is due. There are other alerts you can turn on and off at any time, like weekly balance updates, balance limit alerts or notifications when your statement is available.

• To keep your 0% rate for 3 months, you’ll need to make your minimum payments on time and stay within your credit limit. Otherwise, your 0% rate will go up to the standard rate, which is also the rate you’ll pay when your promotional period has ended.

• Your new account will be set up with digital statements. These can be found in your online Barclaycard account, which you will need to register for. You can choose to switch to paper statements at any time.
• Understanding how fees and promotional rates work can help you to manage your account. So make sure you’re up to speed on the types of fees we may charge you and how promotional rates work.
• Your standard and cash interest rates will move up and down in line with the Bank of England base rate, so your rate might change before we reduce it. To learn more visit barclaycard.co.uk/understanding-interest.
• If you request a balance transfer, due to the way we’ll calculate your credit limit, it might go down if you don’t complete that transfer within 60 days of opening the account.
  
• This offer is only available for new customers and Barclaycard reserves the right to withdraw this offer at any time. Terms and conditions apply and a Barclaycard is subject to application and status.