{"id":751846,"date":"2023-04-27T04:18:06","date_gmt":"2023-04-27T08:18:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-february-2023\/"},"modified":"2023-04-27T04:18:06","modified_gmt":"2023-04-27T08:18:06","slug":"fico-uk-credit-card-market-report-february-2023","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-february-2023\/","title":{"rendered":"FICO UK Credit Card Market Report: February 2023"},"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.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.bwtopsingle { border-top: solid black 1pt }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth25 { width: 25% }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: February 2023<\/b><\/p>\n<p class=\"bwalignc\"><i>Data demonstrates cost-of-living pressures across spend and missed payments as UK consumers battle to manage finances<\/i><\/p>\n<p>LONDON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe latest data from FICO on UK credit card trends illustrates the financial balancing act many consumers are facing. Average card spend has increased month-on-month and year-on-year. Higher prices for day-to-day purchases will be reflected in this increase. UK consumers are also paying off less of their outstanding balance, indicating the squeeze on personal budgets.<\/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\/20230427005063\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230427005063\/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\/20230427005063\/en\/1775183\/4\/UK_Cards_Feb_2023-1.jpg\" alt=\"The FICO UK Credit Card Market Report for February 2023 shows that average total sales per card were up 3.7 percent compared to January 2023 at \u00a3785 (Graphic: Business Wire)\" \/><\/p>\n<p style=\"font-size:85%\">The FICO UK Credit Card Market Report for February 2023 shows that average total sales per card were up 3.7 percent compared to January 2023 at \u00a3785 (Graphic: Business Wire)<\/p>\n<\/div>\n<p>\nThere are, however, some positive signs of financial management. The percentage of accounts missing one payment dropping significantly month-on-month in February after two months of high increases. The number of accounts missing two payments has also seen the first significant drop since May 2022. The big question for lenders will be whether these patterns are sustained over the coming months. Diligent account management will be critical, particularly as the new Consumer Duty Guidance comes into force in the summer.<\/p>\n<p><b>Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAverage total sales up 3.7 percent compared to January 2023 at \u00a3785<\/p>\n<\/li>\n<li>\nPercentage of payments to balance dropped by 4.1 percent month-on-month<\/p>\n<\/li>\n<li>\nPercentage of accounts missing one payment decreased by 15.6 percent compared to January 2023<\/p>\n<\/li>\n<li>\nPercentage of accounts with two missed payments decreased 12.6 percent compared to January 2023, although 25 percent higher than February 2022<\/p>\n<\/li>\n<li>\nAccounts missing three payments continued to rise, up 27.4 percent year-on-year<\/p>\n<\/li>\n<li>\nAverage balances across all accounts up 8.7 percent year-on-year to \u00a31,660<\/p>\n<\/li>\n<\/ul>\n<p><b>FICO comment<\/b><\/p>\n<p>\nAnalysis of the largest consortium of UK cards data shows consumers are continuing to face a difficult balancing act to manage their finances as inflation remains a significant factor. Lenders will be vigilant to how these behaviours develop over the coming months.<\/p>\n<p>\nAs living standards continue to be squeezed, it\u2019s not surprising that the percentage of payments to balance has dropped consistently since May 2022. This trend is likely to continue given the current economic pressures. Interestingly though, the current percentage of payments to balance \u2014 at 37.8 percent \u2014 is considerably higher than before the pandemic, when it was around 30 percent.<\/p>\n<p>\nHow consumers manage their existing financial commitments is also crucial to monitor in the current climate. The fact that the percentage of customers missing one payment decreased significantly in February 2023 \u2014 a typical behaviour post-Christmas \u2014 will be welcomed by lenders after two months of sharp increases. The percentage of cardholders missing two payments also dropped significantly, but with the proportion 25 percent higher than February 2022 it will be interesting to see whether there is any uptick in March and whether the increase month-on-month seen for the average balances of those customers missing one and two payments starts to reduce.<\/p>\n<p>\nThe percentage of customers missing three payments has significantly increased since June 2022. With a 27.4 percent increase compared to February 2022, lenders will want to implement the best support for these vulnerable customers. Specialised collections support and collections departments will need to ensure they have enough experienced collectors.<\/p>\n<p><b>Key Trend Indicators \u2013 UK Credit Cards February 2023<\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrowaltcolor0 bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>Metric<\/strong><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrowaltcolor0 bwpadl0 bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>Amount<\/strong><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrowaltcolor0 bwpadl0 bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>Month-on-Month Change<\/strong><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth25\" 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 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAverage UK<br \/>\n<br \/>Credit Card Spend<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>\u00a3785<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+3.7%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+11.4%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAverage Card Balance<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>\u00a31,660<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+0.6%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+8.7%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nPercentage of<br \/>\n<br \/>Payments to Balance<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>37.8%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-4.1%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-2.3%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAccounts with<br \/>\n<br \/>One Missed Payment<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>1.4%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-15.6%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+0.7%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAccounts with<br \/>\n<br \/>Two Missed Payments<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>0.3%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-12.6%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+25.1%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAccounts with<br \/>\n<br \/>Three Missed Payments<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>0.2%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+4.3%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+27.4%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAverage Credit Limit<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>\u00a35,550<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-0.4%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+1.4%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAverage Overlimit Spend<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>\u00a390<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+1.1%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-24.6%<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCash Sales \/ Total Sales<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>0.9%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth25 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><strong>+0.7%<\/strong><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwalignc bwwidth25\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><strong>-32.8%<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><strong>Source: FICO<\/strong><\/p>\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=53388183&amp;newsitemid=20230427005063&amp;lan=en-US&amp;anchor=FICO%26%23174%3B+TRIAD%26%23174%3B+Customer+Manager&amp;index=1&amp;md5=13b0cbb1b3336382c111da930d4dbfa6\">FICO<sup>\u00ae<\/sup> TRIAD<sup>\u00ae<\/sup> Customer Manager<\/a> solution in use by some 80 percent of UK card issuers.<\/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.<\/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=53388183&amp;newsitemid=20230427005063&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.fico.com&amp;index=2&amp;md5=172ffbdf2546511c2998f86f397e3f73\">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.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230427005063r1&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\/20230427005063\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230427005063\/en\/<\/a><\/span><\/p>\n<p><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<\/p>\n<p><b>KEYWORDS:<\/b> United Kingdom Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Data Management Technology Finance Software Banking<\/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\/20230427005063\/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\/20230427005063\/en\/1775183\/3\/UK_Cards_Feb_2023-1.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">The FICO UK Credit Card Market Report for February 2023 shows that average total sales per card were up 3.7 percent compared to January 2023 at \u00a3785 (Graphic: Business Wire)<\/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\/20230427005063\/en\/1775186\/3\/UK_Cards_Feb_2023-2.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">The FICO UK Credit Card Market Report for February 2023 showed rising average balances on UK cards but a decline in the percentage of payments to balance, which dropped by 4.1 percent month-on-month. (Graphic: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>FICO UK Credit Card Market Report: February 2023 Data demonstrates cost-of-living pressures across spend and missed payments as UK consumers battle to manage finances LONDON&#8211;(BUSINESS WIRE)&#8211; The latest data from FICO on UK credit card trends illustrates the financial balancing act many consumers are facing. Average card spend has increased month-on-month and year-on-year. Higher prices for day-to-day purchases will be reflected in this increase. UK consumers are also paying off less of their outstanding balance, indicating the squeeze on personal budgets. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230427005063\/en\/ The FICO UK Credit Card Market Report for February 2023 shows that average total sales per card were up 3.7 percent compared to January 2023 at \u00a3785 (Graphic: &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-february-2023\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FICO UK Credit Card Market Report: February 2023&#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-751846","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FICO UK Credit Card Market Report: February 2023 - 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-february-2023\/\" \/>\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: February 2023 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FICO UK Credit Card Market Report: February 2023 Data demonstrates cost-of-living pressures across spend and missed payments as UK consumers battle to manage finances LONDON&#8211;(BUSINESS WIRE)&#8211; The latest data from FICO on UK credit card trends illustrates the financial balancing act many consumers are facing. Average card spend has increased month-on-month and year-on-year. Higher prices for day-to-day purchases will be reflected in this increase. UK consumers are also paying off less of their outstanding balance, indicating the squeeze on personal budgets. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230427005063\/en\/ The FICO UK Credit Card Market Report for February 2023 shows that average total sales per card were up 3.7 percent compared to January 2023 at \u00a3785 (Graphic: &hellip; Continue reading &quot;FICO UK Credit Card Market Report: February 2023&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-february-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-27T08:18:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mms.businesswire.com\/media\/20230427005063\/en\/1775183\/4\/UK_Cards_Feb_2023-1.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-february-2023\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-february-2023\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"FICO UK Credit Card Market Report: February 2023\",\"datePublished\":\"2023-04-27T08:18:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-february-2023\\\/\"},\"wordCount\":853,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-february-2023\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mms.businesswire.com\\\/media\\\/20230427005063\\\/en\\\/1775183\\\/4\\\/UK_Cards_Feb_2023-1.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-february-2023\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-february-2023\\\/\",\"name\":\"FICO UK Credit Card Market Report: February 2023 - 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