FICO UK Credit Card Market Report Reveals Rising Balances Amid Summer Spending and Financial Pressures
Reuters
Aug 14
FICO UK Credit Card Market Report Reveals Rising Balances Amid Summer Spending and Financial Pressures
The latest credit card market data from analytics software leader Fair Isaac Corporation (FICO) reveals a rise in consumer spending and a decline in payments to balance, contributing to an increase in average credit card balances. Spending increased by 4.6% month-on-month to £825, although it was 1.4% lower compared to June 2024. Average balances rose to £1,885, marking a 1% increase from May and a 4.6% year-on-year rise. The percentage of payments to balance dropped by 2.1% month-on-month and 5.7% year-on-year. While the number of customers missing one and three payments decreased month-on-month, those missing two payments saw an increase compared to May. Additionally, cash spending on credit cards grew by 2.8% month-on-month. The data highlights concerns for lenders, as consumer confidence in the UK economy appears to be lacking, and financial pressures persist in households.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Fair Isaac Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20250814190086) on August 14, 2025, and is solely responsible for the information contained therein.
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