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Macro Economy•29 April 2026•

1 min read

FICO Report: UK Credit Card Spending Rises 5% Amid Persistent Affordability Pressures

Key Facts

1FICO data shows a 5% rise in spending alongside persistent structural affordability challenges.

2Payment rates continued to trend down with missed payment balance levels higher than the previous year.

The FICO UK Credit Card Market Report for February 2026 reveals a 5% recovery in spending following the typical January slump, yet highlights persistent structural affordability challenges. According to the data, payment rates have continued their downward trend, while balance levels for missed payments remain higher than those recorded last year. This combination suggests ongoing financial stress for UK consumers, as the seasonal post-Christmas recovery is offset by lingering economic pressures from 2025 and rising energy costs. Analysts note that these signals point to a weakening in consumer credit quality and discretionary spending power. Investors are closely monitoring these trends to gauge the overall health of the UK economy and consumer resilience. The report underscores a cautious outlook for the credit sector as delinquency balances show no signs of immediate retreat.