Barclays U.S. Credit Card Business Passes $5 Billion Receivables

Since acquiring Juniper Bank in 2004, Barclays outstanding loans have grown from $1.4 billion to well more than $5.0 billion in just two and a half years. The number of accounts has quintupled from 700,000 to more than 3.5 million, encompassing over 50 world-class partners such as US Airways, Barnes & Noble, BJ's Wholesale Club, Travelocity and Carnival Cruise Lines. The company now employs more than 1,400 associates, up from 400 in 2004.

"Barclays phenomenal growth is a direct result of delivering on the promises we make to our partners and cardholders. We pride ourselves on creating innovative credit card offerings and providing high-quality customer experience with every interaction," said Lloyd M. Wirshba, CEO of Barclays U.S. credit card business. "Surpassing the $5 billion milestone is truly a significant point in our history, and with our current momentum, Barclays will soon be listed among the top ten issuers."

True to its innovative roots, Barclays continues to launch new initiatives and technologies to enhance the customer experience and improve portfolio performance for its partners. To support its rapid growth, Barclays opened a state-of-the art customer service center in Colorado Springs, CO, and expanded into a second facility in Wilmington, DE.

On the innovation front, Barclays recently added contactless payments functionality to its offerings and began piloting the use of hand-held scanners for rapid, in-store customer acquisition and instant credit approvals. Other innovations include pioneering investment account-linked reward programs, dual-purpose membership/credit cards, and the use of "apply and buy" instant credit applications for online retailers. These leading-edge initiatives, combined with Barclay's ongoing commitment to creating the most innovative co-branded card programs for its partners, will help accelerate Barclays growth and market share in the U.S. market.