FICO just released data on Q2 cards performance in the UK. In large part, we’re seeing steady patterns, with higher volatility and risk for both student and Irish cards.
One area that shows a slight increase in risk is cash withdrawals. Cash withdrawals as a percentage of total sales for all UK cards, having fallen from over 5 percent in summer 2009 to 3.1 percent in January, are slightly rising again and have hit 3.7 percent. You can see the bump-up in the chart. It’s nothing to be concerned about yet, but it does suggest that UK households are finding it more difficult to make ends meet.
This data is part of our FICO Benchmark Reporting Service in the UK. Subscribers receive a quarterly review of their portfolio vs. the industry, with 24 months’ worth of data. For greater insight, subscribers can drill into the data by vintage of accounts.