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Barclaycard cancels one million credit card accounts |
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Barclaycard writes to more than a million customers throughout Britain to announce them their credit cards are being cancelled. The million-plus customers, almost 10 percent of Barclaycard’s British customer base, who have had their cards withdrawn were targeted because they had not used their card for a long time.
The move is the result of monitoring customers’ credit levels and their ability to pay. Barclaycard has also written to millions more customers informing them of a reduction in their credit limits as the country’s leading credit card supplier intends to limit its exposure to the effect of the global credit crunch. Recently, US-based internet bank Egg also announced it has deleted credit card accounts of 160,000 debt-ridden credit-card holders. |
