Business & Technology
FICO flags rise in missed credit card payments in UK
SOFIAH NICHOLE SALIVIO
News Editor
FICO reported a rise in missed credit card payments in the UK in March, pointing to worsening strain on household finances.
Its latest market data showed average credit card spending fell 6.6% month on month to £740, while the share of balances repaid dropped to 33%. Average active balances edged down 0.8% from the previous month to £1,925, but remained 4.3% higher than a year earlier.
The sharpest deterioration came in early arrears. The percentage of customers missing one payment rose 29.5% from February, while the share missing two payments increased 11.3% month on month and 14.3% year on year.
Accounts with one, two or three missed payments all recorded slightly lower average balances than in the previous month, but each category remained above levels seen a year earlier. That marks a shift from the improvement visible in the same period last year.
The data covers card performance reported through FICO’s Benchmark Reporting Service and is drawn from reports generated by its TRIAD Customer Manager system, used by about 80% of UK card issuers.
Spending pressure
March is usually shaped by seasonal spending patterns ahead of Easter, but the latest figures also reflect broader pressure on consumers. FICO linked weaker spending and payment performance to a fuel crisis tied to disruption in the Strait of Hormuz, which has pushed up petrol and diesel costs.
That pressure showed up in both customer behaviour and balance trends. Although active balances fell modestly after Christmas, they have stayed elevated compared with the same period last year, suggesting borrowers have not materially reduced their reliance on revolving credit.
The repayment picture was also weak. The proportion of balances repaid slipped 1% from the previous month and was 3.7% lower than a year earlier, continuing a seasonal decline typically seen before summer.
The year-on-year decline in repayment rates has narrowed from the 6% to 7% falls recorded through much of last year. Even so, payment levels remain low by recent standards.
Rising arrears
For lenders, the more pressing issue is the increase in delinquency. The rise in customers missing one payment echoed a similar jump recorded in March last year, raising the prospect that a seasonal pattern is becoming more severe rather than easing.
The increase in customers with two missed payments is likely to draw particular scrutiny because it can signal that temporary payment difficulty is turning into more persistent financial stress. A year-on-year increase in that category suggests the problem is not confined to a single monthly fluctuation.
FICO also highlighted that all delinquency categories were higher than a year earlier. While the growth rate of delinquent balances has moderated, especially among accounts with two and three missed payments, the overall market picture still points to structural affordability pressure.
That leaves banks and card issuers weighing whether the March spike in early arrears will feed through into more serious defaults in the months ahead. Collections and risk teams are likely to watch closely how many customers who have missed one payment move into two or three missed payments as seasonal spending rises through spring and summer.
The figures add to evidence that unsecured consumer credit remains under strain, even where some month-on-month indicators have stabilised. Lower spending does not necessarily signal stronger finances when repayment rates are also falling and arrears are increasing.
Average balances on delinquent accounts remain above last year’s levels, meaning lenders may be dealing with larger sums once customers fall behind. That can make collections more complex, particularly if higher fuel and transport costs continue to squeeze disposable income.
“An area of concern for risk teams will be the notable increases in March across early and mid-stage late-payment categories. The sharp 29.5% month-on-month increase in customers missing one payment reflects a recurring pattern of March stress that was also evident in 2025. The 14.3% year-on-year increase in customers with two missed payments is especially notable and warrants careful monitoring to assess whether this represents a seasonal spike or a more sustained deterioration,” FICO said.
Business & Technology
Rosa’s Thai is giving away 4000 free Pad Thais to students
Celebrating both GCSE and A-Level Results Days, the chain will offer the popular dish to students who buy one of its bubble teas.
The free offer is available at all 42 Rosa’s Thai restaurants across England and Wales.
To avail of the free noodles, students need to register on Rosa’s Thai website for a unique code, which they should present at the restaurant together with a copy of their results.
Rosa’s Thai has a new range of bubble tea flavours, including Ube-Taro, Matcha-Coconut, Mango Sticky Rice, and Milo Chocolate Milk, as well as favourites like Home-brewed Thai Tea with Tapioca, and Lychee Mango with mango boba.
Students can sign up for their free Pad Thai at rosasthai.com/result-day-free-pad-thai and find their nearest restaurant at rosasthai.com/locations.
Business & Technology
Historic coin company enters administration after 20 years
The London Mint Office, which distributes commemorative coins and medals, appointed administrators on July 31 after 20 years in business.
The company’s website now displays a message confirming the appointment of Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP as joint administrators.
A spokesman for Alvarez and Marsal said: “On July 31 2026, Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP were appointed as Joint Administrators of The London Mint Office Limited in administration (the “Company”).
“Regrettably, the Company’s liquidity challenges have led to a number of immediate redundancies. We are supporting the affected employees through the redundancy process.
What Happens When a Company Goes Into Administration?
“The affairs, business and property of the Company are being managed by the Joint Administrators who act as agents of the Company and without personal liability.”
The announcement confirms that it is no longer possible to purchase coins or medals through the company’s website.
The London Mint Office operates a distribution centre in Tonypandy, Rhondda Cynon Taf, where it employs a significant number of people.
Administration is a formal insolvency process triggered when a business cannot meet its financial obligations.
An insolvency practitioner is appointed to manage the company’s affairs and may attempt to restructure the business or sell off assets to repay creditors.
What happens when a company goes into Liquidation?
Founded in 2006, The London Mint Office describes itself as “one of the UK’s most trusted suppliers of historic, commemorative, and collector coins.”
It is part of Samlerhuset AS, a Norwegian company based near Oslo and one of Europe’s largest distributors of commemorative coins and medals.
Samlerhuset’s website states that it offers “provide a wide range of coins from ancient to modern, originating from virtually every country in the world.”
The London Mint Office has advised anyone with an interest in the company’s assets to contact the administrators at INS_THLMOL@alvarezandmarsal.com.
Business & Technology
Warning of new rules for Aldi and Lidl after watchdog review
The Competition and Markets Authority (CMA) has provisionally decided that both discounters should be added to the Groceries Market Investigation (Controlled Land) Order 2010, which currently applies to Asda, Co-op, Marks and Spencer, Morrisons, Sainsbury’s, Tesco, and Waitrose.
This order is designed to prevent large grocery retailers from using land agreements to block competitors from opening nearby stores, often through restrictive covenants or exclusivity terms.
Juliette Enser, executive director of competition enforcement and markets at the CMA, said: “We want everyone to have the best choice of supermarket and range of prices when buying their groceries.
“To ensure this happens, we put rules in place to prevent big supermarket chains blocking rival stores from opening nearby – and now we propose applying those rules to Aldi and Lidl too.
“This is about allowing shoppers to choose where they spend their money and levelling the playing field for all major supermarkets.
“Today’s proposals are provisional and we welcome views before deciding the best way forward.”
The CMA’s review found that Aldi, Lidl GB, and Lidl NI now meet the criteria of ‘Large Grocery Retailers’ (LGRs) due to their store footprint, nationwide presence, procurement model, and the breadth of their grocery range.
Aldi and Lidl were originally excluded from the 2010 order as ‘limited assortment discounters’, offering a smaller selection of products compared to traditional supermarkets.
However, the CMA’s provisional findings indicate that this is no longer the case.
All three now operate large grocery stores, each with more than 1,000 square metres of shop floor space, and offer a full range of products, though with less category choice than some competitors.
They also purchase goods directly from suppliers through integrated wholesaling.
With the UK grocery market estimated to be worth £215 billion, Aldi and Lidl are now ranked among the top five retailers by market share.
The CMA is seeking feedback from stakeholders before reaching a final decision.
Aldi and Lidl could join the other supermarket chains later this year.
The CMA is inviting views until 5pm on Monday, September 7, 2026, and will issue its final decision in the autumn after reviewing responses.
If the discounters are included under the order, they will be prevented from using land agreements to limit competition from other supermarket chains.
The CMA aims to ensure competition across the grocery sector to give shoppers more choice and competitive pricing by removing obstacles to new store openings.
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