Many people don’t think twice about signing up for a credit card. Looking for a new credit card that can save you money in the long run? This guide will help you to compare credit cards in Barbados so that you can find the one that’s right for you.
How do Credit Cards Work?
A credit card is a sophisticated product that enables you to make purchases either by entering the card number, code and your name or by swiping in a point of sale device. These purchases can be made online, face to face or over the phone.
Credit cards tend to have higher interest rates that regular loans. This is because you are essentially paying for the convenience of having unsecured funds available at your fingertips.
When using your card, always exercise caution. Always use your card with reputable vendors. Credit card fraud and identity theft are closely intertwined and can have damaging effects on your life.
How to Compare Credit Cards
To compare credit cards, you should start with a list of the cards that are available to you. The credit cards listed below are the majority of the cards available in Barbados. Please remember that the information presented below is subject to change without notice and is not under the control of this website.
| CREDIT CARD | CARD NAME | FEATURES | USE | ANNUAL FEE (BDS) | INTEREST | MORE INFO |
|---|---|---|---|---|---|---|
 | CIBC FCIB British Airways Visa Platinum | * Earn Avios for everyday purchases * Travel accident insurance coverage * Emergency legal assistance | Personal | $300.00 | 23.00% | Yes |
 | CIBC FCIB Visa Platinum | * Earn 1 point for every $2 spent * Travel accident insurance * Receive 5000 bonus points on sign up | Personal | $300.00 | 23.00% | Yes |
 | CIBC FCIB Visa Rewards Gold | * Earn and redeem points * Free travel accident insurance * Access to emergency travel services | Personal | $100.00 | 23.00% | Yes |
 | CIBC FCIB Visa Rewards Classic | * Earn and redeem points * Travel accident insurance | Personal | $65.00 | 23.00% | Yes |
 | CIBC FCIB UWI Visa Classic | * Available for UWI students, alumni and staff * Pre-approved credit card available for UWI faculty and staff * Reduced interest rate | Personal | $40.00 ( Some waivers apply) | 21.00% | Yes |
 | CIBC FCIB UWI Visa Gold | * Available for UWI students, alumni and staff * Pre-approved credit card available for UWI faculty and staff * Reduced interest rate | Personal | $90.00 ( Some waivers apply) | 21.00% | Yes |
 | CIBC FCIB Simpson Motors Visa Classic | * Available for Simpson Motors staff and customers * Earn cash back rewards | Personal | $90.00 | 22.50% | Yes |
 | CIBC FCIB British Airways Visa Business | * Earn Avios for everyday purchases * Travel accident insurance coverage * Emergency legal assistance | Business | $240.00 | 23.00% | Yes |
 | CIBC FCIB Visa Business | * Travel Assistance Services * Travel accident insurance * Auto rental insurance | Business | $170.00 | 23.00% | Yes |
 | CIBC FCIB bizline Visa Business | * Earn 1 reward point for every $2 spent * Auto rental insurance in the USA and Canada * Travel assistance services worldwide | Business | $200.00 | 18.00% | Yes |
 | First Citizens Visa Classic and Gold | Personal | Yes | |||
| First Citizens Visa Platinum | * Exclusive Visa Platinum Privileges * Travel Accident Insurance * First Citizens Card Plus Programme | Personal | $300.00 | 14.00% | Yes |
 | First Citizens MasterCard Standard | Personal | Yes | |||
 | Globe Finance - BARP Visa Classic | * Earn 1% cash back at BARP affiliates * Earn 0.8% cash back on other purchases | Personal | Yes | ||
 | Globe Finance - BARP Visa Gold | * Earn 1.5 reward points for every $2 spent at BARP affiliates * Earn 1 reward point for every $2 spent elsewhere | Personal | Yes | ||
 | Globe Finance - BARP Visa Platinum | * Earn 1.5 reward points for every $2 spent at BARP affiliates * Earn 1 reward point for every $2 spent elsewhere | Personal | Yes | ||
 | Republic Bank International Platinum VISA | * Republic Bank Bonus Points * Interest free credit * VISA auto rental insurance | Personal | Yes | ||
 | Republic Bank International VISA | * Republic Bank Bonus Points * Interest free credit * VISA auto rental insurance | Personal | Yes | ||
 | RBC Rewards Visa Platinum | * Earn 1 RBC Rewards Point for every $2 spent * Free SkyBox address * Free Visa travel accident insurance | Personal | $250.00 | 22.00% | Yes |
 | RBC Visa Gold | * Free SkyBox address * AVIS discounts and upgrades * Free Auto rental insurance coverage | Personal | $90.00 | 22.00% | Yes |
 | RBC Visa Classic International | * Free SkyBox address * AVIS discounts and upgrades * Free Auto rental insurance coverage | Personal | $65.00 | 22.00% | Yes |
 | RBC Visa Travel Money | * No credit approval required * Reloadable at all RBC branches * Exclusive to RBC customers | Personal | Not Applicable | 22.00% | Yes |
 | RBC Rewards Visa Business Platinum | * Earn unlimited rewards * Pool points * Travel without restrictions | Business | $300.00 | 22.00% | Yes |
 | RBC Visa Corporate Expense Card | * Free SkyBox address * Free Auto rental insurance coverage | Business | $75.00 | 22.00% | Yes |
 | Scotiabank MasterCard | * Earn 1% cash back * Optional $30,000 BBD Credit Life Protection | Personal | $29.00/ $60.00/ $70.00 | 21.50% | Yes |
 | Scotiabank Gold MasterCard | * Earn 3% cash back * Optional $30,000 BBD Credit Life Protection | Personal | $115.00 | 21.50% | Yes |
 | Scotiabank PriceSmart Diamond MasterCard | * Up to 3% cash back on purchases at PriceSmart * 1% cash back on all other purchases | Personal | $60.00/ $70.00 | 21.50% | Yes |
 | Scotiabank AERO Platinum MasterCard | * Earn 1 ScotiaPoint per $1 USD spent * Total Bonus of 3,000 ScotiaPoints on 1st purchase * Book on any airline | Personal | $199.00/ $70.00 | 21.50% | Yes |
 | Scotiabank AAdvantage MasterCard | * Earn AAdvantage miles with every purchase made on your card * Redeem miles for flights, vacation packages, car rentals and hotel stays | Personal | $115.00/ $75.00 | 21.50% | Yes |
Find the Best Credit Card Deals
Now that you’ve seen a small comparison of the credit cards available in Barbados, your task is to find the one that’s right for you. Contact the local banks and other financial institutions that offer credit cards to what they can offer. Your unique situation will determine whether or not you are successful with your credit card application.
The card with the largest limit might be tempting, but it is not necessarily the one that will be right for you. Before you make a decision, it is important that you understand how the card works, applicable fees, interest rates and credit terms.
Are you on the hunt for a savings account? Let’s compare savings accounts together!
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