{"id":795654,"date":"2024-12-18T04:03:02","date_gmt":"2024-12-18T09:03:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-october-2024\/"},"modified":"2024-12-18T04:03:02","modified_gmt":"2024-12-18T09:03:02","slug":"fico-uk-credit-card-market-report-october-2024","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-october-2024\/","title":{"rendered":"FICO UK Credit Card Market Report: October 2024"},"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.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\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 }\n.bwwidth100 { width: 100% }\n.bwwidth15 { width: 15% }\n.bwwidth20 { width: 20% }\n.bwwidth45 { width: 45% }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: October 2024<\/b><\/p>\n<p class=\"bwalignc\"><i>Payments to balance unexpectedly increase \u2013 albeit marginally \u2013 as spend and balances fall in typical seasonal patterns<\/i><\/p>\n<p>LONDON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nFollowing expected seasonal trends between summer and Christmas, October 2024<b \/>saw sales and credit card balances drop, month-on-month according to data from global analytics software leader FICO. However, the high cost of living that has been a feature of 2024 means spending remained 1% higher than the same period in 2023.<\/p>\n<p>\nIn contrast, the percentage of balance paid went against the usual trend of dropping from August until the end of the year, with marginal month-on-month increases seen in September and October. In September, there was a 1.3% increase, while October showed a 0.3% increase, taking the percentage of balance paid to 37.2%. However, again reflecting the financial pressure on households in 2024, both months are lower than the previous year, by 2.5% and 1.5% respectively.<\/p>\n<p><b>Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nSales dropped 5.5% month on month to an average of \u00a3790 in October but have increased by 1% on the previous year<\/p>\n<\/li>\n<li>\nAfter a 0.5% increase in September, average balances experienced the usual pre-Christmas drop \u2013 down 0.9% to an average of \u00a31,815 in October<\/p>\n<\/li>\n<li>\nBucking the usual annual trend, there were marginal increases in the percentage of balance paid in September and October<\/p>\n<\/li>\n<li>\nThe pattern of late payments has also stabilised year-on-year, with an increase only in the percentage of cardholders missing three payments compared to October 2023<\/p>\n<\/li>\n<li>\nThe percentage of customers using cash on credit cards dropped in October to 3.45%, having peaked in September at 3.54%<\/p>\n<\/li>\n<\/ul>\n<p><b>FICO Comment<\/b><\/p>\n<p>\nCompared to all vintages of credit card holders, veteran customers (who have had their credit card for five years or more) have the highest delinquent balances for those missing two or three payments. This group also has the highest average credit limit. Whilst it is expected that this group of customers may have higher credit limits as they have had their cards for longer and will probably have been offered limit increases at some point, their average active balance is lower than for the new or established groups of card holders.<\/p>\n<p>\nGiven the continued financial pressures affecting households, risk managers should review both limit management and collections contact strategies, with a particular focus on the veteran customer group. These customers may be missing payments for the first time and may need more tailored support.<\/p>\n<p>\nFor habitual late payers, they may have become accustomed to the same collections contact methods each time they miss payments. Shuffling when treatment is actioned for these customers, and incorporating different communications channels by adding in rules looking at \u2018number of times missed one \/ two \/ three payments last 12 months\u2019, could help improve collection performance on higher balances.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td colspan=\"4\" class=\"bwpadl0 bwsinglebottom\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Key Trend Indicators \u2013 UK Cards October 2024<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Metric<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl1 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Amount<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Month-on-Month<br \/>\n<br \/>Change<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl1 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Year-on-Year<br \/>\n<br \/>Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage UK Credit Card Spend<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a3790<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n-5.5%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+1%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage Card Balance<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a31,815<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n-0.9%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+5.2%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPercentage of Payments to Balance<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n37.17%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+0.3%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n-1.5%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccounts with One Missed Payment<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1.46%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+3.8%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n-8.6%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccounts with Two Missed Payments<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0.32%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+0.3%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n-4.9%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccounts with Three Missed Payments<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0.2%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n-3.1%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0.3%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage Credit Limit<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a35,765<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+0.2%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+2.8%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage Overlimit Spend<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a390<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+4.6%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n+1.1%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl1 bwwidth45\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash Sales as a % of Total Sales<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0.87%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n-3.7%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n-7.6%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" colspan=\"4\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Source: FICO<\/b><\/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=54168158&amp;newsitemid=20241218301439&amp;lan=en-US&amp;anchor=FICO%26%23174%3B+TRIAD%26%23174%3B+Customer+Manager&amp;index=1&amp;md5=0cbed502e3cf04739f41d860d42cc4ed\"><b>FICO<sup>\u00ae<\/sup> TRIAD<sup>\u00ae<\/sup> Customer Manager<\/b><\/a> solution in use by some 80% of UK card issuers. For more information on these trends, contact FICO.<\/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, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO\u00ae Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.fico.com%2F&amp;esheet=54168158&amp;newsitemid=20241218301439&amp;lan=en-US&amp;anchor=www.fico.com&amp;index=2&amp;md5=37ec10399d02be7e1d38c1a54b998508\">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=20241218301439r1&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\/20241218301439\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20241218301439\/en\/<\/a><\/span><\/p>\n<p><b><i>For further press information please contact:<br \/>\n<\/i><\/b><br \/><b>FICO UK PR Team<br \/>\n<\/b><br \/>Wendy Harrison\/Parm Heer<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> 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","protected":false},"excerpt":{"rendered":"<p>FICO UK Credit Card Market Report: October 2024 Payments to balance unexpectedly increase \u2013 albeit marginally \u2013 as spend and balances fall in typical seasonal patterns LONDON&#8211;(BUSINESS WIRE)&#8211; Following expected seasonal trends between summer and Christmas, October 2024saw sales and credit card balances drop, month-on-month according to data from global analytics software leader FICO. However, the high cost of living that has been a feature of 2024 means spending remained 1% higher than the same period in 2023. In contrast, the percentage of balance paid went against the usual trend of dropping from August until the end of the year, with marginal month-on-month increases seen in September and October. In September, there was a 1.3% increase, while October showed a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-october-2024\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FICO UK Credit Card Market Report: October 2024&#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-795654","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FICO UK Credit Card Market Report: October 2024 - 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-october-2024\/\" \/>\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: October 2024 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FICO UK Credit Card Market Report: October 2024 Payments to balance unexpectedly increase \u2013 albeit marginally \u2013 as spend and balances fall in typical seasonal patterns LONDON&#8211;(BUSINESS WIRE)&#8211; Following expected seasonal trends between summer and Christmas, October 2024saw sales and credit card balances drop, month-on-month according to data from global analytics software leader FICO. However, the high cost of living that has been a feature of 2024 means spending remained 1% higher than the same period in 2023. In contrast, the percentage of balance paid went against the usual trend of dropping from August until the end of the year, with marginal month-on-month increases seen in September and October. In September, there was a 1.3% increase, while October showed a &hellip; Continue reading &quot;FICO UK Credit Card Market Report: October 2024&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-october-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-18T09:03:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241218301439r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\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-october-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-october-2024\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"FICO UK Credit Card Market Report: October 2024\",\"datePublished\":\"2024-12-18T09:03:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-october-2024\\\/\"},\"wordCount\":751,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-october-2024\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20241218301439r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-october-2024\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/fico-uk-credit-card-market-report-october-2024\\\/\",\"name\":\"FICO UK Credit Card Market Report: October 2024 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/fico-uk-credit-card-market-report-october-2024\/","og_locale":"en_US","og_type":"article","og_title":"FICO UK Credit Card Market Report: October 2024 - Market Newsdesk","og_description":"FICO UK Credit Card Market Report: October 2024 Payments to balance unexpectedly increase \u2013 albeit marginally \u2013 as spend and balances fall in typical seasonal patterns LONDON&#8211;(BUSINESS WIRE)&#8211; Following expected seasonal trends between summer and Christmas, October 2024saw sales and credit card balances drop, month-on-month according to data from global analytics software leader FICO. However, the high cost of living that has been a feature of 2024 means spending remained 1% higher than the same period in 2023. In contrast, the percentage of balance paid went against the usual trend of dropping from August until the end of the year, with marginal month-on-month increases seen in September and October. 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