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Credit Card Issuance in the UK - Industry Market Research Report

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    Report

  • 77 Pages
  • September 2024
  • Region: United Kingdom
  • IBISWorld
  • ID: 4061555

Constrained credit: In 2023-24, industry revenue growth is likely to be stilted by rampant inflation

Credit card issuance revenue has fallen at a compound annual rate of 3.5% over the five years through 2023-24 to £13.9 billion, despite growth of 0.8% in 2023-24. The COVID-19 outbreak dealt a hefty blow to credit card issuers as households began to use their cards for fewer purchases. Meanwhile, 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 incomes fall; on the other hand, it has caused a higher rate of defaulting.

The industry deals with issuance of credit and charge cards, which provide a line of credit or cash to businesses or consumers to use for purchases. Credit card balances roll over month to month. The balances can be repaid in full or on an instalment basis. Charge card balances must be paid in full monthly. Cards are not issued directly by Visa, MasterCard, Diners Club or American Express, but these companies do provide the transaction processing networks.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

About this Industry
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
Industry at a Glance
Industry Performance
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
Products & Markets
  • Supply Chain
  • Products & Services
  • Major Markets
  • Globalisation & Trade
  • Business Locations
Competitive Landscape
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Barriers to Entry
Major Companies
Operating Conditions
  • Capital Intensity
Key Statistics
  • Industry Data
  • Annual Change
  • Key Ratios
Jargon & Glossary

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Lloyds Banking Group plc
  • Barclays plc

Methodology

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