FICO UK Credit Card Market Report: February 2024 [Yahoo! Finance]
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Source: Yahoo! Finance
LONDON, April 22, 2024 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. Highlights Average spend increased 1.55% over January 2024, reaching an average of £785 With inflation still higher than the same period in 2023, spend remains higher year-on-year Payments to balance fell by 3.1% from January, with just 36.5% of outstanding balances paid in February and balances increasing 0.1% to £1770 Fewer customers missed one or two payments compared to the previous month, but figures remain higher than 2023 There was a slight year-on-year and month-on-month increase in the number of customers missing three paymen
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