FICO UK Credit Card Market Report: November/December 2024
FICO's UK Credit Card Market Report for November/December 2024 reveals record-high spending and balances since tracking began in 2006. Average credit card spend reached £860 in December, up 6.8% from November and 1.5% from December 2023. Average balances hit an all-time high of £1,860, 4.5% higher than December 2023.
The percentage of balance paid decreased by 3% in November and another 0.5% in December, with customers paying off 35.86% of their balance in December 2024. While missed payments generally decreased compared to 2023, balances on accounts with missed payments increased significantly. Average balances for accounts with one missed payment reached £2,255, two missed payments £2,780, and three missed payments £3,190.
Cash withdrawals using credit cards declined for the third consecutive month, reaching 3.19% in December 2024. The data suggests continued inflation could impact consumer affordability through 2025.
Il Rapporto sul Mercato delle Carte di Credito del Regno Unito di FICO per novembre/dicembre 2024 rivela spese e saldi record da quando sono iniziati i rilievi nel 2006. La spesa media con carta di credito ha raggiunto £860 a dicembre, con un aumento del 6,8% rispetto a novembre e dell'1,5% rispetto a dicembre 2023.
I saldi medi hanno toccato un massimo storico di £1,860, con un incremento del 4,5% rispetto a dicembre 2023. La percentuale di saldo pagato è diminuita del 3% a novembre e di ulteriori 0,5% a dicembre, con i clienti che hanno ripagato il 35,86% del loro saldo a dicembre 2024. Sebbene i pagamenti mancati siano generalmente diminuiti rispetto al 2023, i saldi sui conti con pagamenti non effettuati sono aumentati significativamente. I saldi medi per i conti con un pagamento mancato hanno raggiunto £2,255, con due pagamenti mancati £2,780 e tre pagamenti mancati £3,190.
I prelievi in contante tramite carte di credito sono diminuiti per il terzo mese consecutivo, raggiungendo il 3,19% a dicembre 2024. I dati suggeriscono che l'inflazione continuata potrebbe influenzare la sostenibilità economica dei consumatori fino al 2025.
El Informe del Mercado de Tarjetas de Crédito del Reino Unido de FICO para noviembre/diciembre de 2024 revela gastos y saldos récord desde que se comenzaron a rastrear en 2006. El gasto promedio con tarjeta de crédito alcanzó £860 en diciembre, un aumento del 6,8% con respecto a noviembre y del 1,5% con respecto a diciembre de 2023.
Los saldos promedio alcanzaron un máximo histórico de £1,860, un 4,5% más que en diciembre de 2023. El porcentaje de saldo pagado disminuyó un 3% en noviembre y otro 0,5% en diciembre, con los clientes pagando el 35,86% de su saldo en diciembre de 2024. Aunque los pagos fallidos en general disminuyeron en comparación con 2023, los saldos de las cuentas con pagos fallidos aumentaron significativamente. Los saldos promedio para cuentas con un pago fallido alcanzaron £2,255, dos pagos fallidos £2,780 y tres pagos fallidos £3,190.
Los retiros de efectivo usando tarjetas de crédito declinaron por tercer mes consecutivo, alcanzando el 3,19% en diciembre de 2024. Los datos sugieren que la inflación continua podría afectar la capacidad económica de los consumidores hasta 2025.
FICO의 영국 신용 카드 시장 보고서는 2024년 11월/12월에 2006년 추적이 시작된 이후 기록적인 지출과 잔액을 나타냅니다. 신용 카드의 평균 지출은 12월에 £860에 도달하여 11월보다 6.8%, 2023년 12월보다 1.5% 증가했습니다.
평균 잔액은 사상 최고치인 £1,860에 이르렀으며, 2023년 12월보다 4.5% 증가했습니다. 잔액 지급 비율은 11월에 3%, 12월에 0.5% 감소하여 2024년 12월에는 고객이 잔액의 35.86%를 상환했습니다. 미지급의 경우는 2023년에 비해 전반적으로 감소했지만, 미지급이 있는 계좌의 잔액은 크게 증가했습니다. 한 번 미납된 계좌의 평균 잔액은 £2,255에, 두 번의 미납은 £2,780, 세 번의 미납은 £3,190에 달했습니다.
신용 카드를 이용한 현금 인출은 세 번째 연속 감소세를 보이며, 2024년 12월에 3.19%에 도달했습니다. 지속적인 인플레이션이 소비자의 경제적 여유에 2025년까지 영향을 미칠 수 있음을 시사합니다.
Le Rapport sur le Marché des Cartes de Crédit au Royaume-Uni de FICO pour novembre/décembre 2024 révèle des dépenses et des soldes records depuis le début des évaluations en 2006. Les dépenses moyennes par carte de crédit ont atteint £860 en décembre, en hausse de 6,8 % par rapport à novembre et de 1,5 % par rapport à décembre 2023.
Les soldes moyens ont atteint un niveau record de £1,860, soit 4,5 % de plus qu'en décembre 2023. Le pourcentage de solde payé a diminué de 3 % en novembre et de 0,5 % en décembre, les clients réglant 35,86 % de leur solde en décembre 2024. Bien que les paiements manqués aient généralement diminué par rapport à 2023, les soldes des comptes avec paiements manqués ont considérablement augmenté. Les soldes moyens pour les comptes avec un paiement manqué ont atteint £2,255, deux paiements manqués £2,780 et trois paiements manqués £3,190.
Les retraits d'espèces par cartes de crédit ont diminué pour le troisième mois consécutif, atteignant 3,19 % en décembre 2024. Les données suggèrent que l'inflation persistante pourrait affecter l'accessibilité financière des consommateurs jusqu'en 2025.
FICOs Bericht über den Kreditkartenmarkt im Vereinigten Königreich für November/Dezember 2024 zeigt auf, dass die Ausgaben und Salden seit Beginn der Erfassung im Jahr 2006 auf einem Rekordhoch sind. Die durchschnittlichen Kreditkartenausgaben erreichten im Dezember £860, was einem Anstieg von 6,8% im Vergleich zum November und von 1,5% im Vergleich zum Dezember 2023 entspricht.
Die durchschnittlichen Salden erreichten mit £1,860 ein Allzeithoch, was einer Steigerung von 4,5% gegenüber Dezember 2023 entspricht. Der Anteil der beglichenen Salden verringerte sich im November um 3% und im Dezember um weitere 0,5%, wobei die Kunden im Dezember 2024 35,86% ihres Saldos begleichen. Während die Zahl der versäumten Zahlungen im Vergleich zu 2023 insgesamt gesunken ist, sind die Salden bei Konten mit versäumten Zahlungen erheblich angestiegen. Die durchschnittlichen Salden für Konten mit einer versäumten Zahlung erreichten £2,255, mit zwei versäumten Zahlungen £2,780 und mit drei versäumten Zahlungen £3,190.
Bargeldabhebungen über Kreditkarten sanken im dritten Monat in Folge und erreichten im Dezember 2024 3,19%. Die Daten deuten darauf hin, dass anhaltende Inflation die finanzielle Belastbarkeit der Verbraucher bis 2025 beeinträchtigen könnte.
- Record-high credit card spending indicates strong consumer activity
- Fewer customers missed payments compared to same period in 2023
- Cash withdrawal usage decreased for third consecutive month
- Average credit card balances reached all-time high of £1,860
- Percentage of balance paid decreased by 3.5% over two months
- Significant increase in balances for accounts with missed payments
- 9.3% increase in customers missing one payment in December
- 2.2% increase in customers missing three payments in December
Insights
The latest FICO UK credit card market report unveils significant trends that directly impact FICO's business model and market position. The company's TRIAD® Customer Manager solution, used by 80% of UK card issuers, demonstrates FICO's dominant market position in credit risk analytics.
The record-breaking metrics - average spend of
Key implications for investors:
- Growing market opportunity as financial institutions seek advanced risk management solutions amid rising consumer credit stress
- FICO's extensive market penetration (80% of UK issuers) provides stable recurring revenue and valuable data insights
- Rising delinquency trends could drive additional demand for FICO's collections and recovery solutions
- The comprehensive data collection capabilities reinforce FICO's competitive moat in credit analytics
The concerning trends in missed payments and rising delinquent balances (reaching
Spending and credit card balances reached the highest averages since FICO records began in 2006
Highlights
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Average credit card spend rose in the lead-up to Christmas 2024, reaching
£860 in December; a6.8% increase on November and a1.5% increase on December 2023 -
December saw the highest average balance since FICO records began in 2006 at
£1,860 -4.5% higher than December 2023 -
The percentage of overall balance paid fell by
3% in November compared to October and by a further0.5% in December, with35.86% of the balance being paid off in December 2024 - Fewer customers missed payments in November and December 2024 than across the same two months in 2023
-
Customers using their credit card to withdraw cash fell for the third month in a row, standing at
3.19% in December 2024
Average spending saw typical seasonal increases in the run-up to Christmas. However, with average spend reaching
Similarly, average credit card balances reached an all-time high in December at
For customers missing one, two or three payments, the average balance increased year-on-year in November and December – another indicator of the financial pressures faced throughout 2024. Average balances for one missed payment are now
The usual seasonal trend sees a reduction in customers missing one payment in the run-up to Christmas, as people want to keep lines of credit open. However, in December 2024 there was a
Given the continued financial pressures affecting households, risk managers should review both limit management and collections contact strategies in order to help customers avoid getting into long-term debt.
These card performance figures are part of the data shared with subscribers of the FICO® Benchmark Reporting Service. The data sample comes from client reports generated by the FICO® TRIAD® Customer Manager solution in use by some
About FICO
FICO (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® Score, used by
FICO and TRIAD are registered trademarks of Fair Isaac Corporation in
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For further press information please contact:
FICO
Wendy Harrison/Parm Heer
ficoteam@harrisonsadler.com
0208 977 9132
Source: FICO
FAQ
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