Barclaycard announces further help for UK customers

Barclaycard today, 10 August, announces initial success for its early assistance scheme for customers who may be experiencing financial difficulty. The new scheme is one of a series of actions taken by Barclaycard to help customers during the economic downturn and was launched in March 2009. The scheme has so far helped 11,500 Barclaycard customers.

The scheme is designed to spot customers who may be about to experience problems with their credit before these problems become an issue. Barclaycard is identifying customers whose account behaviour has recently changed or where they appear to be struggling with their debts. This, for example, may include those who are persistently close to their credit limit or those who have markedly changed their repayment behaviour.

Customers will be contacted, either by telephone or text message, and invited to discuss their situation with one of Barclaycard's experienced debt advisers. Where a customer does need help, Barclaycard will take the time to discuss the customer's individual situation and will offer practical help, which might include reducing the minimum payment and advising customers where they can turn for help if they are concerned about their total borrowing.

The scheme has been launched by Barclaycard in response to an increased demand from customers for an extra level of assistance during the current economic climate and follows on from the establishment of Barclaycard's customer helpline in February this year.

The service has helped over 6,000 customers by providing somewhere for them to go for advice and assistance in managing their borrowing with Barclaycard. To raise awareness of the service, Barclaycard will be issuing statement inserts to over 2 million targeted customers. In addition, Barclaycard has also made a credit guide available on its website and further details can be found at barclaycard.co.uk/personal-home/credit-guidance/thinking-about-borrowing/index.html

If Barclaycard customers are experiencing problems with making payments, they can call the Financial Difficulty Helpline on 0844 241 2929.

Antony Jenkins, chief executive of Barclaycard, said: "We know some of our customers are or will be experiencing financial difficulty this year and we want to help. This means that we're giving them somewhere to turn to if they're worried about their borrowing with Barclaycard. It is equally important that our customers have the right amount of available credit and pay the correct price on their borrowings. In the second half of the year, there will be a limited number of price rises where we have a clear indication that potential risks have increased but the numbers involved will be a tiny fraction of the 3 million customers who will see their rates reduced in 2009."