UK NEWS

BARCLAYCARD DUMPS ONE MILLION

Barclaycard has followed rival Egg

Sunday February 10,2008

By Brendan Abbot

Comment Speech Bubble Have your say(9)

BARCLAYCARD has written to more than a million customers throughout Britain telling them their credit cards are being cancelled.

The move is on a scale almost 10 times that of a similar policy announced by Egg last week, when it said it had also written to 160,000 customers withdrawing credit facilities.

On top of cancelling the cards of more than 10 per cent of its British customer base, Barclaycard has also written to millions more informing them of a reduction in their credit limits as the country’s leading credit card supplier seeks to limit its exposure to the effects of the credit crunch.

The policy has gained momentum as the economy has soured since the end of last year.

The million-plus customers who have had their cards withdrawn were targeted by Barclaycard because they had not used their facility for a long time.

A spokesman for Barclaycard said: “We have sent letters to around one million dormant customers informing them we are closing their accounts. This is an ongoing policy.”

The reduction in credit limits follows monitoring of customers’ credit levels and their ability to pay.

BRASS NECK BANKS

17.02.08, 11:28am

Have'nt they just got the Boldest Brass Neck ever,the hidden policy makers of banks must be laughing at us all...they thrusted loans and credit down our throats for the last 4 years in the guise of doing us a favour.
Were we fooled???
Frankly YES!!!!
The country has now propped its self up on a false property ecconomy,young couples/newly weds are going to be so broke that they will not contemplate having children creating a massive gap in those seeking to buy in the future.
What are we going to prop the ecconomy up with then???
Wont be the Gas and Oil that we have squandered will it.
Perhaps it will be Water?????????

• Posted by: AllanCMc • Report Comment

WHAT'S THE PROBLEM?

17.02.08, 4:04am

To be fair, they have said that this concerns dormant accounts. So I can't see what all the fuss is about. If the account is not being used (dormant presumably means that there is no balance outstanding) then surely it is both common sense and better for our security that these accounts are cancelled.

• Posted by: royblack • Report Comment

RIP OFF

11.02.08, 8:49am

I would never be surprised if the bank charged there customers accounts ,for the letter telling people that there cards were being cancelled

• Posted by: carlyle • Report Comment

STUFF THEM JUST MOVE TO ANOTHER BANK

11.02.08, 12:52am

If they cancel cards then go apply elsewhere and take all your business to the new bank, they have a right to protect their assetts. As far as being paid in cash it would be great for robbers to rob the payroll clerk coming from the bank or security vans delivering all the cash. I would do all transactions with my debit card but useing a credit card gives better fraud protection over the internet and against firms that go bust, the credit card company foots the cost. Cutting penalty charges are making us all pay. Stop all credit cards and see the results, then go back to charge cards to be paid off every month and an annual fee to have one but only for those who have a perfect credit history. Blame Tony Blair who you all voted for, he stopped pensions and benefits being paid in cash to save him money he forced us to use banks, then did the same with TV license and car tax so don't complain about banks, or even energy companies or BT charging extra for cash and cheque payments as nu labour showed them the way and still do. Why not introduce annual billing where you buy your energy, water, phone charges and broadband up front for a good discount, Those who want credit pay more, sounds great to me.

• Posted by: CAN • Report Comment

STUFF THEM JUST MOVE TO ANOTHER BANK

11.02.08, 12:47am

• Posted by: CAN • Report Comment

DO YOU REMEMBER THE BROWN PAY PACKETS?

10.02.08, 4:09pm

Before bank accounts, the working man/woman was paid in cash and was put into pay packets each week or Month. Then it changed to make life more simple for the firms people worked for, we had to open bank accounts so the wages could be paid in. So is it possible to say "Stuff the banks, and ask to be paid in cash each Week/Month in little brown pay packets again?

Anyone out there know the answer? Because if I can, I am. That would give the banks a lot of worry, if we all did it.

• Posted by: fireowl • Report Comment