Despite economic troubles across much of Europe, there are clear indicators that consumers continue to mind their credit very closely.   FICO released two reports, on the UK and Russia, that show positive trends for consumer credit management.

The FICO report on quarterly UK cards data showed that in the second quarter of 2012 average total sales per “classic” card reached their second-highest point in two years, behind December 2011 but higher than December 2010. In addition, several measures of delinquencies fell, with average two-cycle balances hitting their lowest level in more than two years.

The card performance figures are part of the data shared with subscribers of the FICO® Benchmark Reporting Service, which compares overall market performance in the UK cards market with individual card issuers’ performance. With a stuttering economy, UK consumers seem to be using cards as “survival tools.” By making payments on time, they’re protecting their credit lines as a buffer against the possibility of more hard times ahead.

Source:  FICO Banking Analytics Blog