This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

UK Holiday Card Spend Rose 10 Percent In 2012, FICO Data Reveals

LONDON, Feb. 18, 2013 /PRNewswire/ --  FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today released its quarterly UK cards data showing that average total sales per "classic" credit card hit a two-year high in December of £600.25, surpassing the level from December 2011 by 10 percent. The latest data from the FICO ® Benchmark Reporting Service showed that average sales per Irish (Euro) card also rose, hitting a two-year high of €732.55, while student cards were slightly above 2011 levels. Only premium cards fell in terms of spending compared to December 2011.


"The growth in card spending far outstripped the growth in December retail sales compared to last year, which the government puts at 1.8 percent, excluding fuel," said Nigel Brayne, senior director of Global Business Consulting at FICO. "This suggests that many consumers shifted their spending to credit cards, perhaps so that they could pay for gifts over a longer period of time. Just as consumers are worried about their finances, card issuers will be monitoring their accounts closely for signs of delinquency."

For accounts on the books less than 12 months, FICO's data also showed a drop of 22 percent in the percentage of payments to balance, compared with December 2011. For these accounts, average total sales were up 4 percent over last year and utilization was up 5 percent.

"We recommend card issuers review the credit quality of their newly booked accounts," said Brayne. "By reviewing application score cut-offs and criteria, they can see whether they're booking a riskier population. They may also want to bring additional data into their origination decisions. If the credit quality has dropped, it's a good idea to review their initial line allocations, as our data shows these also rose since 2011."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs