FICO says UK credit card balances hit record £1,980 in July for second month
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FICO• UK card balances rise to record as spending softens
- FICO’s July 2026 UK card report showed average credit card spending fell 2% month-on-month to GBP 815.
- Average active balances rose 0.4% to a record GBP 1,980, up 4.7% year-on-year despite softer spending.
- Repayment momentum improved as the share of balance paid increased 0.9% to 33.6%, still 3.6% lower year-on-year.
- Arrears worsened as one-payment misses climbed 11.5% month-on-month to 1.5%; three-payment misses rose 9.6% to 0.2%.
- New FCA BNPL affordability checks from July 15 could push rejected BNPL demand onto cards, adding upward pressure on balances.
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FICO says UK credit card balances hit record £1,980 in July for second month - FICO News | Rallies
