UK Consumer Credit Rises the Most on Record

2026-09-29 08:47 By Luisa Carvalho 1 min. read

Net borrowing of consumer credit by individuals in the UK rose to a record £2.5 billion in August 2026 from an upwardly revised £2.1 billion in July and largely beating market forecasts of £1.9 billion.

This represented the highest level recorded since data collection began in April 1993, exceeding the previous six-month average of £1.9 billion.

Within this, net borrowing through credit cards was £1.2 billion in August, up from £0.9 billion in July.

Net borrowing through other forms of consumer credit, such as car dealership finance and personal loans, increased to £1.3 billion, from £1.2 billion over the same period.

The annual growth rate for all consumer credit increased slightly to 9.6% in August, from 9.3% in July.

Over the same period, the annual growth rate for credit card borrowing increased to 13.3% from 12.6% in July, and the annual growth rate for other forms of consumer credit increased slightly to 7.9%, from 7.7% in July.



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UK Consumer Credit Rises the Most on Record
Net borrowing of consumer credit by individuals in the UK rose to a record £2.5 billion in August 2026 from an upwardly revised £2.1 billion in July and largely beating market forecasts of £1.9 billion. This represented the highest level recorded since data collection began in April 1993, exceeding the previous six-month average of £1.9 billion. Within this, net borrowing through credit cards was £1.2 billion in August, up from £0.9 billion in July. Net borrowing through other forms of consumer credit, such as car dealership finance and personal loans, increased to £1.3 billion, from £1.2 billion over the same period. The annual growth rate for all consumer credit increased slightly to 9.6% in August, from 9.3% in July. Over the same period, the annual growth rate for credit card borrowing increased to 13.3% from 12.6% in July, and the annual growth rate for other forms of consumer credit increased slightly to 7.9%, from 7.7% in July.
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UK Consumer Credit Growth Tops Forecasts
Net borrowing of consumer credit by individuals in the UK rose slightly to £2 billion in July 2026 from £1.9 billion in June, overshooting market forecasts of £1.8 billion. It was the highest reading since last November, slightly above the previous 6-month average of £1.9 billion. Within this, net credit card borrowing eased to £0.9 billion in July from £1.0 billion in June, while borrowing through other consumer credit, including car finance and personal loans, increased to £1.1 billion from £0.9 billion. The annual growth rate for all consumer credit inched up to 9.2% in July, from 9.1% in June. Over the same period, the annual growth rate for credit card borrowing remained unchanged at 12.5%, and the annual growth rate for other forms of consumer credit increased slightly to 7.7%, from 7.6% in June.
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Net borrowing of consumer credit by individuals in the UK slightly increased to £1.807 billion in June 2026 from £1.7 billion in May, and beating market forecasts of £1.7 billion. This was in line with the previous 6-month average of £1.8 billion. Within this, net borrowing through credit cards was £0.9 billion in June, up from £0.6 billion in May. Net borrowing through other forms of consumer credit, such as car dealership finance and personal loans, decreased to £0.9 billion in June, from £1.1 billion in May. The annual growth rate for all consumer credit increased slightly to 9.1% in June, the most since July 2018, from 9.0% in May. Over the same period, the annual growth rate for credit card borrowing increased to 12.5% from 12.2%, while for other forms of consumer credit it remained unchanged at 7.6%.
2026-07-29