Barclaycard PPI Claims & A Brief History
Part of the retail and business banking arm of Barclays, Barclaycard is a global payment business and was the first credit card introduced in the UK when it came into service in 1966. Barclaycard enjoyed a monopoly for a good few years but in 1972, the Access card was introduced which was used by the likes of Lloyds Bank and NatWest Bank.
However, the Barclaycard wasn’t the first payment card introduced in the UK. Both American Express and Diners Club introduced their payment cards in 1963 and 1962 respectively. Out of the two cards, American Express was seen as Barclaycard’s main competitor.
A good few years down the line, Barclaycard became a part of the Visa network and they’ve gone on to also offer MasterCard and American Express versions of their card.
They make some bold claims too, stating they are the leading issuer of credit cards in Europe with 10.4 million customers in the UK and 10.8 million customers outside of the UK.
In the UK, Barclaycard is currently issuing one in five credit cards, making it the leading credit card issuer in the UK at this moment in time.
Barclaycard PPI Claims
With over 10 million current Barclaycard customers, and potentially millions more who no longer have a card, you could be forgiven for thinking millions of Barclaycard customers may have been mis-sold PPI on their accounts. Well, you’d be right.
Add to this the fact that in 2011, Barclays bought the credit card arm of Egg from Citigroup, thus seeing a further 1.15million credit card customers added to the Barclaycard number, and the fact that Egg were fined £721,000 in 2008 for mis-selling PPI, and you’ve got an enormous number of Barclaycard PPI claims.
It’s easy to see why the Barclays PPI bill currently stands at a grand total of £5 billion, and rising fast, to cover their costs to compensate customers.
With millions of people yet to make a claim, could you be owed money via a Barclaycard PPI claim?
Why not launch your Barclaycard PPI claim with the experts today as you could potentially be on the first step to a claim worth thousands. All you need to do is fill in the form on the site, we’ll send you a PPI claim pack out, once you’ve sent that back to us, you can rest easy while we launch your claim and keep you posted every step of the way.