{"id":732802,"date":"2023-02-21T04:18:07","date_gmt":"2023-02-21T09:18:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-december-2022\/"},"modified":"2023-02-21T04:18:07","modified_gmt":"2023-02-21T09:18:07","slug":"fico-uk-credit-card-market-report-december-2022","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-december-2022\/","title":{"rendered":"FICO UK Credit Card Market Report: December 2022"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistdisc { list-style-type: disc }\n.bwnowrap { white-space: nowrap }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>FICO UK Credit Card Market Report: December 2022<\/b><\/p>\n<p class=\"bwalignc\"><i>Seasonal increases plus higher prices result in festive spending highs and big rise in cardholders missing one payment<\/i><\/p>\n<p>LONDON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nClear evidence of the impact of inflation on household spending is revealed in FICO\u2019s latest report of UK card trends, for December 2022. While retail sales volumes were widely reported as being down in the last month of the year, the FICO data shows the highest average total credit card spending since its UK Risk Benchmarking records began in 2006. Underlining the financial pressures being faced, December also saw a significant rise in cardholders missing one credit card payment, which will be a particular concern to lenders.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230221005173\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230221005173\/en\/<\/a><\/p>\n<div id=\"bwbodyimg\" style=\"width: 480px;float:left;padding-left:0px;padding-right:20px;padding-top:0px;padding-bottom:0px\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230221005173\/en\/1717573\/4\/average-uk-credit-card-spend.jpg\" alt=\"UK credit card spend climbed to a new high in December 2022, according to FICO data. (Graphic: FICO)\" \/><\/p>\n<p style=\"font-size:85%\">UK credit card spend climbed to a new high in December 2022, according to FICO data. (Graphic: FICO)<\/p>\n<\/div>\n<p><b>Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAverage total sales up 9 percent over November 2022 at \u00a3825\n<\/li>\n<li>\nAverage balances rise by 5 percent month-on-month to \u00a31,660\n<\/li>\n<li>\nAccounts missing one payment jumped month-on-month by 19 percent\n<\/li>\n<li>\nPercentage of accounts with two missed payments was 19 percent higher than December 2021 and 20 percent higher for three missed payments\n<\/li>\n<li>\nThe pattern of falling payments to balance also continued in December 2022 with a 2 percent month-on-month drop and a 4 percent year-on-year decrease\n<\/li>\n<\/ul>\n<p><b>FICO comment<\/b><\/p>\n<p>\nAnalysis of the largest consortium of UK cards data shows a convergence of rising prices and dwindling disposable income in December 2022. With average total spend at its highest and late payments rising significantly month-on-month and year-on-year, financial institutions will be particularly concerned as the focus on Consumer Duty heightens.\n<\/p>\n<p>\nThe Financial Conduct Authority\u2019s (FCA) Consumer Duty rules, which will apply to new and existing products or services that are open to sale or renewal and come into force on <strong>31st July 2023<\/strong>, require firms to act to deliver good outcomes for customers. They must be able to access products and services that meet their needs and offer fair value, as well as receive the support they need, when they need it. This includes financial institutions offering vulnerable customers other products with more suitable pricing etc.\n<\/p>\n<p>\nAs financial institutions face increasing numbers of late payments they will benefit from using optimised strategies to determine who and when to contact, and omnichannel communications to ensure those messages land. Those with the ability to incorporate digital-first communications will be in a much stronger position to deploy effective collections strategies.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td colspan=\"4\" class=\"bwpadl0 bwsinglebottom bwnowrap\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Key Trend Indicators \u2013 UK Cards December 2022<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>Metric<\/strong><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>Amount<\/strong><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>Month-on-Month Change<\/strong><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>Year-on-Year Change<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAverage UK Credit Card Spend\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>\u00a3825<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+9.4%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+8.4%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAverage Card Balance\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>\u00a31,660<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+4.7%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+7.2%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nPercentage of Payments to Balance\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>38.54%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-2.03%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-3.55%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAccounts with One Missed Payment\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>1.7%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+18.7%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+10.6%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAccounts with Two Missed Payments\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>0.32%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+6.1%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+19%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAccounts with Three Missed Payments\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>0.19%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+7.3%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+20.2%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAverage Credit Limit\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>\u00a35,570<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+0.5%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+2.5%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAverage Overlimit Spend\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>\u00a390<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>0%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-23.97%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCash Sales \/ Total Sales\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>0.77%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-12.67%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-37.13%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"4\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nSource: FICO\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThese card performance figures are part of the data shared with subscribers of the FICO\u00ae Benchmark Reporting Service. The data sample comes from client reports generated by the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.fico.com%2Fen%2Fproducts%2Ffico-triad-customer-manager&amp;esheet=53332889&amp;newsitemid=20230221005173&amp;lan=en-US&amp;anchor=FICO%26%23174%3B+TRIAD%26%23174%3B+Customer+Manager&amp;index=1&amp;md5=4b353f4591c4426da89ac96be3662f59\">FICO<sup>\u00ae<\/sup> TRIAD<sup>\u00ae<\/sup> Customer Manager<\/a> solution in use by some 80 percent of UK card issuers.\n<\/p>\n<p><b>About FICO<\/b><\/p>\n<p>\nFICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in nearly 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions rental cars are in the right place at the right time.\n<\/p>\n<p>\nLearn more at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.fico.com%2F&amp;esheet=53332889&amp;newsitemid=20230221005173&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.fico.com&amp;index=2&amp;md5=14a20c79ade50d1444237f67eced109f\">https:\/\/www.fico.com<\/a><\/p>\n<p>\nFICO and TRIAD are registered trademarks of Fair Isaac Corporation in the U.S. and other countries.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230221005173r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230221005173\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230221005173\/en\/<\/a><\/span><\/p>\n<p><b><i>For further comment on the FICO UK Credit Card activity contact:<br \/>\n<\/i><\/b><br \/><b>FICO UK PR Team<br \/>\n<\/b><br \/>Wendy Harrison\/Parm Heer\/Matthew Enderby<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ficoteam@harrisonsadler.com\">ficoteam@harrisonsadler.com<br \/>\n<\/a><br \/>0208 977 9132\n<\/p>\n<p><b>KEYWORDS:<\/b> Europe Ireland United Kingdom<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Personal Finance Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230221005173\/en\/1338635\/3\/fico-logo-blue-large.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230221005173\/en\/1717573\/3\/average-uk-credit-card-spend.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">UK credit card spend climbed to a new high in December 2022, according to FICO data. (Graphic: FICO)<\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230221005173\/en\/1717574\/3\/average-balance-payments.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">The rise in average balance on UK credit cards, coupled with a drop in payment-to-balance, shows an increasing amount of risk. (Graphic: FICO)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>FICO UK Credit Card Market Report: December 2022 Seasonal increases plus higher prices result in festive spending highs and big rise in cardholders missing one payment LONDON&#8211;(BUSINESS WIRE)&#8211; Clear evidence of the impact of inflation on household spending is revealed in FICO\u2019s latest report of UK card trends, for December 2022. While retail sales volumes were widely reported as being down in the last month of the year, the FICO data shows the highest average total credit card spending since its UK Risk Benchmarking records began in 2006. Underlining the financial pressures being faced, December also saw a significant rise in cardholders missing one credit card payment, which will be a particular concern to lenders. This press release features multimedia. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-december-2022\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FICO UK Credit Card Market Report: December 2022&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-732802","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FICO UK Credit Card Market Report: December 2022 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-december-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FICO UK Credit Card Market Report: December 2022 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FICO UK Credit Card Market Report: December 2022 Seasonal increases plus higher prices result in festive spending highs and big rise in cardholders missing one payment LONDON&#8211;(BUSINESS WIRE)&#8211; Clear evidence of the impact of inflation on household spending is revealed in FICO\u2019s latest report of UK card trends, for December 2022. While retail sales volumes were widely reported as being down in the last month of the year, the FICO data shows the highest average total credit card spending since its UK Risk Benchmarking records began in 2006. Underlining the financial pressures being faced, December also saw a significant rise in cardholders missing one credit card payment, which will be a particular concern to lenders. 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While retail sales volumes were widely reported as being down in the last month of the year, the FICO data shows the highest average total credit card spending since its UK Risk Benchmarking records began in 2006. Underlining the financial pressures being faced, December also saw a significant rise in cardholders missing one credit card payment, which will be a particular concern to lenders. 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