FICO UK Credit Card Market Report: February 2024
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Source: Business Wire
Continued signs of financial pressures: credit card balances creep up and payments to balance fall LONDON--(BUSINESS WIRE)--The FICO UK Credit Card Market Report for February 2024 presents a mixed picture on consumer confidence and financial pressures. There was an uptick in spending after the usual seasonal dip in January and the number of people missing one and two payments fell. However, payments to balance fell by 3.6% compared to February 2023 and the average balance is higher than the previous month and previous year.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240422140878/en/UK credit card spending has started to pick up, after the usual seasonal dip in January, increasing by 1.6% on the previous month to an average of £785, an increase of 0.3% on 2023. (Graphic: FICO)HighlightsAverage spend increased 1.55% over January 2024, reaching an average of £785With inflation still higher than the same period in 2023, s
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