Consumer Credit in the United Kingdom increased to 1692 GBP Million in August from 1669 GBP Million in July of 2025. This dataset provides the latest reported value for - United Kingdom Consumer Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of late October 2024, most of the outstanding consumer lending in the United Kingdom (UK) were overdrafts, as well as loans and advances other than credit cards. Consumer credit peaked in February 2020, but dropped sharply two months later before slowly starting to recover again. The category other, which includes overdrafts and other loans and advances made up most of the outstanding credit. Meanwhile, credit cards amounted to approximately a third of the outstanding consumer loans. Nevertheless, credit cards made up most of the new monthly consumer lending in the UK. A likely reason for this discrepancy is that credit card debt tends to be paid in a shorter term than other types of credit.

Consumer lending, excluding student loans, in the United Kingdom (UK) reached nearly 33.51 billion British pounds in March 2025. These figures have thus recovered from the stark decline suffered in April 2020. The value of new consumer credit granted also decreased during the economic crisis of 2007, although more gradually. The category consumer lending includes loans and advances to individuals through credit cards and personal loans. The majority of consumer credit is through credit card lending. Mortgage lending The value of outstanding mortgage lending in the UK is far higher than that of consumer credit. Additionally, the outstanding volume of consumer credit has fluctuated more in the past, while mortgages have had a more consistent growth. In the second quarter of 2024, the value of gross new mortgage lending in the UK amounted to over 60 billion British pounds. Credit card payments With billions of British pounds in gross consumer lending through credit cards, it’s unsurprising that the number of credit cards in circulation in 2022 was nearly as high as the number of people in the UK. The number of credit cards peaked in 2005, and it slightly decreased in the following months. However, there were still nearly 56 million credit cards in issue in the UK in 2023. The average amount spent per purchase on credit cards in the UK was roughly 59 British pounds in November 2024. This figure is much lower than the spending limit of most credit cards.

The outstanding consumer credit excluding student loans in the United Kingdom has increased during the past months, reaching nearly 239.1 billion British pounds in June 2025. The value of outstanding consumer loans fell significantly in 2020 and 2021, but it recovered after that.

In June 2025, most consumer loans in the United Kingdom (UK) were granted by monetary financial institutions (MFI). Nevertheless, other lenders gave over 12.7 billion British pounds worth of consumer credit. During the past years, non-bank lenders have been increasing their market share. Credit cards made up most of the new monthly consumer lending in the UK.

United Kingdom Gross Lending to Individuals: Consumer Credit (CC): Total data was reported at 35,279.000 GBP mn in Mar 2025. This records an increase from the previous number of 29,577.000 GBP mn for Feb 2025. United Kingdom Gross Lending to Individuals: Consumer Credit (CC): Total data is updated monthly, averaging 16,654.500 GBP mn from Apr 1993 (Median) to Mar 2025, with 384 observations. The data reached an all-time high of 35,279.000 GBP mn in Mar 2025 and a record low of 5,030.000 GBP mn in May 1993. United Kingdom Gross Lending to Individuals: Consumer Credit (CC): Total data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB039: Lending to Individuals: Gross: Consumer Credits. [COVID-19-IMPACT]

The monthly credit grantors survey was set up to provide data to the Bank of England in July 1978 following a benchmark survey in 1976.

The interest rates of most types of personal loans in the United Kingdom (UK) have increased slightly in 2024. However, the interest rates applied to personal loans of 3,000 British pounds were slightly lower than in the previous year, amounting to 18.68 percent. Smaller personal loans had, in general, higher interest rates than bigger loans.

Consumer credit, billion currency units in the United Kingdom, June, 2025 The most recent value is 154.55 billion U.K. Pound Sterling as of June 2025, an increase compared to the previous value of 153.21 billion U.K. Pound Sterling. Historically, the average for the United Kingdom from August 2010 to June 2025 is 153.34 billion U.K. Pound Sterling. The minimum of 141.64 billion U.K. Pound Sterling was recorded in January 2022, while the maximum of 181.58 billion U.K. Pound Sterling was reached in August 2010. | TheGlobalEconomy.com

United Kingdom Consumer Credit: MFIs: Credit Card Repayments data was reported at 12,559.000 GBP mn in Sep 2018. This records a decrease from the previous number of 13,577.000 GBP mn for Aug 2018. United Kingdom Consumer Credit: MFIs: Credit Card Repayments data is updated monthly, averaging 11,162.000 GBP mn from Jan 2010 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 14,325.000 GBP mn in Jul 2018 and a record low of 8,701.000 GBP mn in Feb 2013. United Kingdom Consumer Credit: MFIs: Credit Card Repayments data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB032: Lending to Individuals: Gross: Consumer Credits.

The UK consumer credit market experienced challenging conditions in 2019. Lending in 2020 is set to rise by 5%, but overall growth will remain flat at around 4-5% throughout the rest of the forecast period. This means gross advances are expected to total £372.4bn by 2023. The following factors will drive the market over the next few years: Read More

Daily, weekly and monthly data showing seasonally adjusted and non-seasonally adjusted UK spending using debit and credit cards. These are official statistics in development. Source: CHAPS, Bank of England.

United Kingdom M4 Lending: sa: HS: Individual: Consumer Credit data was reported at 134,688.000 GBP mn in Sep 2018. This records an increase from the previous number of 134,008.000 GBP mn for Aug 2018. United Kingdom M4 Lending: sa: HS: Individual: Consumer Credit data is updated monthly, averaging 116,539.500 GBP mn from Apr 1993 (Median) to Sep 2018, with 306 observations. The data reached an all-time high of 147,057.000 GBP mn in May 2008 and a record low of 42,062.000 GBP mn in Nov 1993. United Kingdom M4 Lending: sa: HS: Individual: Consumer Credit data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KA001: Money Stock.

United Kingdom M4 Lending: HS: Individual: Consumer Credit data was reported at 134,882.000 GBP mn in Oct 2018. This records a decrease from the previous number of 135,040.000 GBP mn for Sep 2018. United Kingdom M4 Lending: HS: Individual: Consumer Credit data is updated monthly, averaging 107,617.000 GBP mn from Jan 1987 (Median) to Oct 2018, with 382 observations. The data reached an all-time high of 147,427.000 GBP mn in Sep 2008 and a record low of 24,494.000 GBP mn in Jan 1987. United Kingdom M4 Lending: HS: Individual: Consumer Credit data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KA001: Money Stock.

The effective interest rates of overdraft lending in the United Kingdom (UK) amounted to nearly 21 percent in March 2024. Meanwhile, outstanding fixed-rate secured loans had some of the lowest interest rates for household lending. Secured loans had, in general, lower interest rates than non-secured lending. In 2024, the average interest rates of personal loans in the UK remained relatively stable.

The 'BoE Consumer Credit' report in the UK measures the change in the total value of new credit issued to consumers, including credit card debt and personal loans.

As of October 2024, monetary financial institutions (MFI) granted most of the lending to individuals in the United Kingdom (UK). Meanwhile, other non-bank lenders gave approximately 275 million British pounds worth of loans just in March 2024. During the past years, non-bank lenders have been increasing their market share. Non-MFI lenders also had a growing market share of the new consumer lending market in the UK.

Consumer credit, billion currency units in Royaume-Uni, juin, 2025 Pour cet indicateur, Bank of England fournit des données pour la Royaume-Uni de août 2010 à juin 2025. La valeur moyenne pour Royaume-Uni pendant cette période était de 153.34 billion U.K. Pound Sterling avec un minimum de 141.64 billion U.K. Pound Sterling en janvier 2022 et un maximum de 181.58 billion U.K. Pound Sterling en août 2010. | TheGlobalEconomy.com

Overview with Chart & Report: Bank of England Consumer Credit m/m reflects monthly changes in the volume of unpaid sterling credit to UK-resident individuals. Loans issued to students are excluded from the indicator calculation

Credit card issuance revenue is slated to dip at a compound annual rate of 7.3% over the five years through 2025-26 to £20.5 billion, including estimated growth of 9.5% in 2025-26. The cost-of-living crisis has been both a blessing and a curse – on the one hand, households have turned to credit cards to pay for necessities as disposable incomes have taken a hit; on the other, it’s caused a higher rate of default and a lower level of total spending. Rampant inflation has made revenue very volatile. Drops in disposable income have left households scrambling to pay for necessities, with the ONS finding that 21% of adults had to use personal loans or credit cards to afford their living costs across 2023-24. Credit card issuers earn a large portion of their revenue from interest income. When the Bank of England ramped up interest rates to curb spiralling inflation over the two years through 2023-24, issuers saw their revenue skyrocket. Although interest rate cuts occurred over 2024-25, the average rate issuers charged borrowers continued to climb, reflecting the rising number of defaults, and issuers seeking to maintain profitability after being forced to raise provisions to cover losses. Interest rates will continue to drop in 2025-26, but this will make borrowing more affordable and reduce the likelihood of defaults, supporting lending activity and aiding revenue growth during the year. The likely decline in defaults will also allow issuers to reduce provisions, lifting the average industry profit margin to 5.9% in 2025-26. Credit card issuance revenue is forecast to expand at a compound annual rate of 4.1% over the five years through 2030-31 to reach £19.3 billion. Demand for credit cards from younger demographics is set to pick up in the coming years, with TransUnion finding more Gen Z consumers getting credit cards in 2023 compared to Millennials a decade earlier, positioning the industry for solid growth. The intensifying threat of buy-now-pay-later platforms will also cool as the FCA clamps down on the industry, introducing new regulations that increase transparency and checks to ensure borrowers can repay their debt. Issuers will also seek to capitalise on the growing market of environmentally conscious consumers, using recycled plastics and biodegradable alternatives for credit cards. This will give smaller issuers a healthy source of competition to compete with more established companies, weighing on market share concentration.