Barclaycard Initial
Barclaycard Initial is a new credit card aimed at people who need to improve their credit rating. Whether you're new to credit in general (i.e. no credit history) or you've maybe missed payments etc in the past (a poor credit history), then Initial may be for you.
Using a credit card responsibly and keeping up with your repayments can help to rebuild your credit rating, as it adds 'good' history to your credit file which helps to outweigh any bad history.
The high APR of this card reflects the market it's aimed at - people with poorer credit ratings will naturally have to pay more than those with perfect ratings, and as you don't have as many options available to you, a high interest rate may be acceptable as the price you need to pay for getting a credit card.
There's no annual fee, and the card features both fraud protection and an identity protection service. Credit limits of up to £2000 are available, although if you have a bad credit rating you'll probably be offered less than that.
You'll also find managing your account easy, with full online management and 24-hour customer services.
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Initial Card Summary
| Standard Rate: | 27.9% typical APR (variable) |
| Balance Transfer Deal? | No balance transfer offer |
| Purchases Deal? | No offer on purchases |
| Introductory Cashback | |
| Standard Cashback | - |
| Rewards Program? | |
| Annual Fee: | - |
| Interest Free Period: | Maximum 56 days for purchases if you pay your balance in full and on time |
| Minimum Repayment: | 2.5% or £5 per month (whichever is greater) |
| Minimum Credit Limit: | £250 |
| Maximum Credit Limit: | £2000, subject to status |
| Notes: | For those wishing to build or rebuild their credit ratings |
