Transparency. Community. A place where the customer has a voice.
These are factors that are important for me when I am getting to know a new business, whether it’s a restaurant, a house cleaning service, or a bank.
Before this week, however, I never expected to find those things – transparency, community, and customers with a voice – in a credit card company.
I truly believe in the power of social media and the importance for businesses (existing companies and brand new companies) to make social involvement a priority. The fact is, the way we are all connected today, we are picking up the phone to connect with businesses LESS and using twitter and Facebook and online forums MORE to find our answers and settle our concerns. A new credit card, the Barclaycard Ring Mastercard gets that. They understand the way moms today want to do business and they are listening.
What is Barclaycard Ring?
Barclaycard Ring Mastercard is a new, one-of-a-kind online credit card with its own community. It combines social media, blogging, community, and online banking with a credit card – no other credit card has this interaction and transparency with their cardholders. Cardholders can join the community and read balance reports from Barclaycard, voice their experiences (good and bad) and be informed of possible changes before they are made (and have a say in whether these changes are implemented!).
Check out this video for more information about Barclaycard Ring:
Barclaycard Ring and Transparency
The Barclaycard credit card has a low interest rate of just 8% which won’t be increased unless the community agrees. In addition to simple, easy-to-understand terms, you’ll pay no annual fee or transfer balance fees on Barclaycard, either, which is a huge plus. I love that Barclaycard Ring has set a precedence to be transparent with their community from the start of the relationship and going forward. If cardholders want a reward system, for instance, they can discuss that with Barclaycard and they will work out terms and program details together.
Barclaycard Ring’s new community just launched this month, and here’s a peek at what it looks like:
Coming in the future: a unique Giveback(SM) program that will enable the community to share in the profit generated from its collective decisions. As a community, cardholders will be able to decide which cause to support with the profits from the card.
What is important to you in a credit card company? What features would you look for if you were to build your own, perfect credit card?
Connect with Barclaycard Ring:
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