Barclaycard slashed my credit limit from £12,000 to £450 overnight
Outrage as credit card provider cuts spending limits in wake of £26m regulator fine
20 April 2021 • 6:00am
Indignant Barclaycard customers have slammed the credit card company for massively reducing spending limits by thousands of pounds.
Long-standing customers said the provider announced cuts to their credit limits at the end of last week by as much as 96pc “with virtually no notice”, despite strong credit histories, solid incomes and regular spending.
Many took to social media to voice their opinions, accusing Barclaycard of “disgraceful customer service” and trying to cull loyal clients.
Barclaycard said it had decreased the credit limits because of the ongoing economic impact of coronavirus and refused to say how many customers were affected.
MBNA credit card customers can now receive up to 15% cash back on everyday purchases
MBNA has partnered with Catalytics to drive its new ‘Smart rewards’ loyalty scheme.
‘Smart Rewards’ will allow MBNA credit card customers to earn as they spend (Image: Getty Images)
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Former US Ambassador to India Richard Verma has been appointed as General Counsel and Head of Global Public Policy of Mastercard, according to an announcement by the American multinational financial services corporation. The announcement on Thursday from Mastercard came as it appointed Tim Murphy, the company s general counsel, to the newly created position of chief administrative officer.
Mastercard said Verma, currently executive vice president for Global Public Policy and Regulatory Affairs, has been promoted to General Counsel and Head of Global Public Policy. He will now lead the company s core legal and regulatory functions, as well as its global and regional public policy teams. Verma will also join the Mastercard s Management Committee, the media release said.
Apr 16 2021, 6:17 PM
April 16 2021, 12:29 PM
April 16 2021, 6:17 PM
Citigroup Inc.âs plans to exit retail banking in 13 markets, including India, could put its lucrative Indian credit card portfolio up for grabs, brokerages said a day after the global bank announced its decision.Citi intends to operate its consumer banking franchise from four wealth centres in Singapore, Hong Kong, the UAE and London, it said in a statement on Thursday. In markets that it is exciting, Citi will continue to offer prod.
Citigroup Inc.âs plans to exit retail banking in 13 markets, including India, could put its lucrative Indian credit card portfolio up for grabs, brokerages said a day after the global bank announced its decision.
Citibank to exit consumer banking business in India; to focus on institutional segment
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Last Updated: Apr 15, 2021, 09:47 PM IST
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Synopsis
The consumer banking business comprises credit cards, retail banking, home loans and wealth management. The bank will be exiting the segment in India after more than three decades. The bank has 35 branches in the country and employs approximately 4,000 people in the consumer banking business.
Citibank to exit 13 global consumer banking markets, including India and China
American banking major Citibank on Thursday announced exiting the high visibility consumer banking business in India as part of a global strategy.
The consumer banking business comprises credit cards, retail banking, home loans and wealth management. The bank will be exiting the segment in India after more than three decades.