August Breaks UK Credit Card Record as Balances Soar
FICO published its UK Credit Card Market Report showing average active balances exceeded £2,000 for the first time in August, rising 4.8% year-on-year, while payment rates fell to 33.3% of balances. Delinquency indicators deteriorated year-on-year across all three missed-payment cycles, with three-missed-payment accounts up 16.4% YoY, though monthly trends showed some stabilization. The data comes from FICO's TRIAD Customer Manager, used by roughly 80% of UK card issuers, and supports the company's Benchmark Reporting Service.
Key figures
- Avg balance yoy
- +4.8%
- Uk cpi inflation
- 3.1%
- Avg card spend gbp
- £840
- Avg card balance gbp
- £2,005
- Avg credit limit gbp
- £6,010
- Uk credit card debt total
- £82.4 billion
AI analysis
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