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UK credit cards in 2025: Balances reached new highs while payments fell

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UK credit cards in 2025: Balances reached new highs while payments fell

Persistent affordability pressures push up average balances despite lower spending as consumers actively curtail discretionary expenditure

According to analysis of its credit card data for 2025 by global analytics software leader FICO (NYSE: FICO), there was a fundamental shift in market dynamics from traditional cyclical patterns to clear management of affordability challenges. The year was characterised by consumers struggling to manage existing debt levels, with average balances reaching record highs while payment rates fell.

The year was characterised by consumers struggling to manage existing debt levels, with average balances reaching record highs while payment rates fell.Share

Highlights

  • The upward trajectory of average balances was the defining trend of 2025, with year-on-year growth above 4.5% every month, reaching an all-time high of £1,950 in December
  • There was also a deterioration in payment rates, with every month falling below 2024 levels
  • The number of customers missing one payment dropped year-on-year, but the percentage of customers missing two and three payments trended upwards from May and June respectively, for the remainder of the year
  • The number of customers using credit cards to withdraw cash followed seasonal trends, with summer peaks and winter troughs, but remained lower than in 2024

The data shows a very clear picture of consumers actively curtailing expenditure due to persistent affordability pressures. Spend was consistently lower than in 2024, average balances were higher and the percentage of overall balance paid dropped year-on-year.

Spending in Decline

From March 2025, as the cost of living increased, year-on-year spending declines persisted. Although it followed the expected seasonal patterns, with December reaching £831 and June peaking at £826, year-on-year these represented reductions compared to 2024.

Balances Rising

However, whilst spend dropped, balances did not, further underlining affordability pressures felt by UK households. Starting from £1,849 in January (+4.6% YoY), balances reached an all-time high of £1,950 by December (+4.8% YoY), with sustained elevation throughout the year. The persistent growth, occurring alongside reduced spending, clearly demonstrates the impact of deteriorating payment behaviours.

2025 saw a deterioration in the percentage of overall balance paid, with every month falling below 2024 levels. Beginning at 36.3% in January (-3.4% YoY), payment rates declined throughout the year, reaching 33.4% in November (-7.4% YoY) before stabilising at 33.4% in December (-6.8% YoY).

Missed Payments

The picture for missed payments also illustrates the juggling act many households faced through the year. Fewer accounts missed one payment than in 2024. However, the average balance for accounts missing one payment is higher than in 2024, and has been growing at a faster rate since May. This indicates that when customers experience payment difficulties in early delinquency, they do so with substantially higher debt loads than previous cohorts. Average balances for accounts with one missed payment reached £2,440 by December, representing an 8.2% year-on-year increase.

The percentage of customers missing two and three payments has trended upwards since the middle of the year and the average balance has also increased since 2024. Accounts with two missed payments peaked at £2,938 in November (+4.9% YoY) and those with three missed payments rose to £3,324 in December (+4.1% YoY).

The Picture for 2026

Heading into 2026, with other economic indicators still illustrating financial pressures, pre-delinquency intervention strategies will be critical for lenders, with authorisation transaction approvals closely monitored as customers reach their limit. Flexible payment options, affordability reviews, and balance management tools such as spending alerts and caps will help to prevent customers from accumulating high balances in early-stage delinquency.

Strategy (MSTR) Is About To Own More Bitcoin Than BlackRock

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Strategy (MSTR) Is About To Own More Bitcoin Than BlackRock

Strategy (MSTR) is closing in on BlackRock’s iShares Bitcoin Trust (IBIT), with the gap in Bitcoin holdings shrinking to a level that could be erased within the next couple of weeks.

Recent data shows IBIT holding roughly 781,000 BTC, while Strategy holds about 761,000 BTC. The difference, now around 40,000 BTC, has tightened as Strategy accelerates its accumulation pace, according to investor Mark Harvey.

The shift reflects diverging models. IBIT holdings rise and fall based on investor inflows and outflows into its spot ETF, while Strategy raises capital through equity and preferred share issuance to fund direct Bitcoin purchases. 

This allows Strategy to acquire Bitcoin independent of ETF demand cycles.

Strategy has added significant volume in recent weeks, including two multibillion-dollar purchases in March that pushed its total higher. Last week, the company bought 2,337 bitcoin for about $1.57 billion.

The company continues to frame its performance around Bitcoin accumulation and “BTC Gain” as a proxy for net income under its Bitcoin-centric strategy. 

Over the first two weeks of March 2026, Strategy acquired 40,332 BTC and posted a 3.0% yield, reinforcing its aggressive treasury approach, according to Michael Saylor. 

Year to date, the firm has accumulated 88,568 BTC with a 3.4% yield, signaling sustained momentum behind its balance sheet transformation.

Bitcoin and Strategy’s strong March

Bitcoin has posted eight consecutive days of gains, a rare streak seen only 15 times since its creation, with past instances delivering a median 30-day return of about 19%, according to Bitcoin Magazine Pro data.

Bitcoin recently climbed from below $66,000 to $76,000 before easing back near $73,800, even as historical patterns show such rallies can precede sharp pullbacks like the 30% drop four years ago. 

Bitcoin’s latest surge comes after the asset bottomed near $63,000 in February during heightened geopolitical tensions linked to the Iran–Israel War. 

Since then, prices have staged a steady recovery as macroeconomic conditions stabilized and investor confidence returned. 

Bitcoin has outperformed other assets like gold and the S&P 500. 

Markets received a boost over the weekend after signs of easing tensions around the Strait of Hormuz, one of the world’s most important oil shipping routes. 

For now, traders are watching whether bitcoin price can maintain support above the $72,000 region. 

A sustained hold above that level could open the door to a push toward $80,000, which previously acted as a key support zone before the early-2026 correction. 

Shares of MSTR are pushing $150 a share today.

Morning Minute: Strategy’s $1.58B Buy Pushes Bitcoin to $75k

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Morning Minute: Strategy’s $1.58B Buy Pushes Bitcoin to $75k

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our new daily news show covering all of the top stories in 5 minutes or less, downloadable on Apple Pod or Spotify.

₿ Strategy’s $1.58B Buy Pushes BTC to $75k

Strategy disclosed its largest Bitcoin purchase of 2026 on Monday, buying 22,337 BTC for $1.57B between March 9 and March 15 at an average price of $70,194 per coin.

The company said the purchase was funded through a mix of capital raised from its common stock ATM and its STRC preferred shares, with STRC accounting for a whopping $1.18B (75%).

As of March 15, Strategy held 761,068 BTC acquired for about $57.61 billion at an average cost basis of $75,696 per Bitcoin.

Bitcoin rallied to $75,500+ in late night trading Monday before reversing this morning, now back at $73.9k.

On the Ethereum side, Tom Lee’s BitMine also kept buying. The company added 60,999 ETH ($138M) over the past week, bringing its total holdings to about 4.596 million ETH. That puts BitMine at roughly 4% of Ethereum’s circulating supply, extending its lead as the largest ETH treasury firm.

ETH jumped as high as $2,360 on Monday in the wake, now at $2,330 this morning.

Key Details

• Strategy’s latest purchase was its biggest BTC buy of 2026 so far
• The purchase was funded ~75% through STRC preferred-share issuance
• BitMine added 60,999 ETH in one week and now holds about 4.596M ETH

🛠 Vitalik Keeps Sketching Ethereum’s Future, Now With Easier Nodes

Vitalik Buterin said running an Ethereum node should be less like “rocket science,” highlighting a new unified client effort from the Nimbus team aimed at simplifying the process.

Vitalik wants the node experience to become far less technical, reducing the configuration and maintenance burden for users who want to participate directly in the network.

The comment fits a broader pattern from Buterin over the past several months. He has increasingly been speaking in public not just about Ethereum’s immediate technical roadmap, but about the network’s long-term shape – how it should feel to use, how decentralization should work in practice, their focus on privacy and censorship resistance, and what participation in Ethereum should look like for normal users rather than just power users.

Key Details

• Buterin specifically praised Nimbus’ unified client approach as a step toward easier node operation.
• The goal is to simplify running both execution and consensus software so node participation is more accessible.
• The node comments land as part of a wider stretch of Buterin publicly outlining how he wants Ethereum’s future architecture and usability to evolve.

💵 Circle Has Doubled in a Month as Stablecoins Become the Trade

Circle stock is up roughly 100% over the past month, making it one of the strongest public-market trades in crypto.

Analyst credit the rally to a mix of higher-for-longer rates, geopolitical tension, oil-driven macro uncertainty, and growing investor interest in stablecoin-linked earnings.

The bullish setup also lines up with comments from Stanley Druckenmiller, who told Morgan Stanley that he assumes “our whole payments systems will be stablecoins in 10 or 15 years.”

Mizuho added another important data point last week: USDC has done about $2.2 trillion in adjusted transaction volume year-to-date, versus roughly $1.3 trillion for USDT. That is the first time since 2019 that USDC has overtaken USDT on that adjusted basis.

Key Details

• CoinDesk tied Circle’s rally to stablecoin growth plus a macro backdrop that favors reserve-income businesses.
• Druckenmiller said he expects stablecoins to become central to payments over the next 10 to 15 years.
• Mizuho said USDC reached about $2.2T in adjusted YTD volume versus $1.3T for USDT.

🏀 Kalshi Is Running a $1B March Madness Bracket Contest

Yesterday, Kalshi launched a March Madness bracket challenge with a headline prize of $1 billion for a perfect bracket.

According to Kalshi’s official rules, entries opened on March 16 and lock on March 19 before the first first-round game.

SIG Parametrics (a member of Susquehanna) is financially backing this promotion.

If you’re wondering about the odds of hitting a perfect bracket – well they’re 1 in 9.2 quintillion. So Kalshi and SIG aren’t sweating it too much (especially with the 10M entry cap).

Kalshi says it will award $1 million to the highest-scoring bracket instead if no one submits a perfect bracket.

Key Details

  • Grand prize: $1B for a perfect bracket.
  • Odds of a perfect bracket: 1 in 9.2 quintillion
  • Backup prize: $1M for the highest-scoring bracket if nobody is perfect.

🌊 OpenSea Delays SEA Airdrop

OpenSea is delaying the launch of its SEA token and its airdrop, pushing back plans that had been tied to its March 30 event.

In his public statement, CEO Devin Finzer said the company decided not to force the original date because “market conditions are challenging across crypto right now” and because SEA “only launches once.” He said OpenSea wanted to make sure every part of the launch was in place rather than rush it under weak conditions.

Finzer also laid out several changes for users:

  • The current rewards wave will be the last
  • OpenSea will offer optional fee refunds for platform fees retained during reward waves 3 through 6
  • Users who opt for a refund will have the related Treasures removed from their account.

He also said existing Treasures will still be “meaningfully considered” at TGE, and that OpenSea will cut its own token trading fees to 0% for 60 days starting March 31.

Those changes are meant to address the delay while keeping users on the platform as OpenSea continues pushing OS2, cross-chain token trading, mobile, and perps.

Key Details

• Finzer said OpenSea chose not to force the March 30 timing because crypto market conditions are weak and SEA “only launches once.”
• No more reward waves beyond the current one and users in waves 3–6 can request optional fee refunds.
• OpenSea will set its own token trading fees to 0% for 60 days starting March 31.

🌎 Macro Crypto and Markets

  • Crypto majors are slightly green but falling from local highs; BTC -0.4% at $73.7k; ETH +2% at $2,330; SOL even at $94
  • ZEC (+14%), FET (+4%) and KAS (+6%) led top movers
  • HYPE passed $40 yesterday for the first time since November, now at $41
  • Oil is at $96 but rebounding after another tanker struck in the Strait of Hormuz; GOLD flat at $5,000
  • BlockFills filed Chapter 11 bankruptcy in Delaware after a court froze its Bitcoin tied to a creditor dispute
  • Abra Financial Holdings is going public via SPAC at a $750M valuation, listing on Nasdaq as ABRX; Abra pitches itself as the first publicly traded SEC-registered digital asset RIA with a target of $10B+ AUM by 2027

Corporate Treasuries & ETFs

Meme Coin Tracker

  • Meme majors were mostly red; DOGE -2%, SHIB -2%, PEPE -8%, TRUMP -4%, PENGU -3%, SPX +1%, FARTCOIN +6%
  • PUNCH (+50%), testicle (+33%) and Surge (+23%) led top onchain movers

💰 Token, Airdrop & Protocol Tracker

  • World Liberty Financial put a $5.3M price tag on “guaranteed access” to its leadership team via a new super node tier, where interested holders can stake 50M WLFI tokens for 180 days
  • The Messari CEO stepped down amidst broader layoffs and pivot to AI focus
  • Ironlight raised $21M to expand its marketplace for tokenized securities
  • USDAI announced allocations for its ICO, with airdrop live and refunds available
  • A Buenos Aires court has ordered access to Polymarket blocked in all of Argentina after an investigation from the city’s gambling prosecution office

🚚 What is happening in NFTs?

  • NFT leaders were mixed; Punks +3% at 29.1 ETH, Pudgy -1% at 4.27 ETH, BAYC -1% at 5.32 ETH; Hypurr’s -6% at 410 HYPE
  • Mocaverse (+6%) led notable movers
  • OpenSea announced an indefinite delay in SEA, along with refunds for the past 3 farming waves and 0 fees starting March 31 for 60 days

Tether Launches Bitnet AI Framework for Smartphones, Cutting Need for Nvidia GPUs

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Tether Launches Bitnet AI Framework for Smartphones, Cutting Need for Nvidia GPUs

Tether is taking aim at Big Tech’s AI hardware moat with a framework that promises to shrink billion-parameter model training down to something your phone can handle. Tether AI Framework Cuts VRAM Use by Over 70%, Expands Edge Computing On Tuesday, Tether unveiled a cross-platform LoRA fine-tuning framework for Microsoft’s Bitnet models, introducing what it […]

MetLife study finds AI acceleration is creating new concerns in today’s workplace

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MetLife study finds AI acceleration is creating new concerns in today’s workplace

Research from leading benefits provider finds 61% of employees are concerned about the risks of AI—raising the stakes for clarity, skill support and benefits as work evolves

As the adoption of artificial intelligence (AI) in the workplace accelerates, MetLife’s 24th Annual U.S. Employee Benefit Trends Study(EBTS) reveals, alongside other findings, a workforce both optimistic about the technology’s efficiency gains and concerned about how technological change is reshaping work, well‑being and long‑term security.

MetLife’s 2026 EBTS, released today, shows that AI is already deeply embedded in everyday work: 80% of employers say AI tools are part of everyday tasks and 83% say AI is helping their employees work faster and more efficiently. However, as employers lean into AI’s potential, employee concerns are intensifying:

  • 61% of employees are worried about the ethical and safety risks, including bias, misinformation, and lack of accountability—up 5% from last year
  • 59% fear that AI will make jobs or skills obsolete faster than opportunities will be created
  • 24% say they feel like they need to compete with AI at work

Employers also acknowledge the tension, with 67% saying AI is creating new points of friction or mistrust between employees and management, and 54% struggling to adapt to the new ways of working that they believe employees expect.

“As AI is rapidly becoming a more significant part of everyday work, many employers are still working through what the integration means for employees and the future of their organizations,” said Shurawl Sibblies, Chief Human Resources Officer at MetLife. “As technology reshapes how work gets done and how performance is measured, providing clarity around expectations and development is critical to driving the best outcomes for employees and businesses.”

New Pressures are Redefining Employee Skills and Support

These pressures extend beyond productivity and performance. As employees face a softened labor market, financial concerns and the rapid reconfiguration of work due in part to AI, the study finds growing strain on workforce well‑being—making benefits, skill development and clarity around expectations critical to helping employees adapt and stay resilient.

The study finds that these macro factors are impacting employee well-being as holistic health continues to decline, reinforcing the importance of connection at work and benefits that support physical, mental, financial and social health—especially during periods of rapid change.

“Employers are being pushed to rethink what employees need to thrive in an AI-enabled workplace,” said Todd Katz, EVP, Head of Group Benefits at MetLife. “Supportive benefits play a critical role in helping people manage change, build resilience and stay healthy—while skill development ensures employees can continue to grow and succeed alongside new technology.”

Resetting Success in the Age of AI

Employers consider both AI and human skills essential and mutually supportive for advancing work. The majority (94%) of employers say human-centered skills, including judgement, creativity, collaboration, and problem solving—will be highly valuable over the next three years, while 71% also say the ability to work with AI and a willingness to learn new skills are critical for the future.

However, gaps in how employee success is defined and recognized may be stunting momentum: while 91% of employers say employee contributions are valued and fairly rewarded, just 65% of workers agree. This disconnect is reinforced by the fact that 55% of employees say success is judged primarily by output—signaling a growing need for employers to define success beyond productivity alone and strengthen support systems.

Will it keep price above $1.50?

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Will it keep price above $1.50?

XRP (XRP) traded at $1.50 on Tuesday, a 3% rise in the past 24 hours as its relief rally stalled at $1.60. Still, growing network usage and increasing holder accumulation could provide a spark that may see the price finally break $1.50-$1.60 resistance.

Key takeaways:

  • XRP holder addresses hit 7.7 million record highs, as daily active addresses reach five-week highs.

  • Analysts say XRP bulls must reclaim $1.60 as support.

XRP Ledger non-empty wallets hit new highs

Santiment reported that the number of daily active addresses on XRP Ledger (XRPL) rose to a five-week high of 46,767, as the increase in the network activity coincided with a price move that saw the price climb to a four-week high of $1.60. 

The number of non-empty addresses on XRPL has reached 7.7 million for the first time.

“XRP Ledger now has more than 7.7M holders (non-empty wallets) for the first time in its 13+ year history,” Santiment said in an X post on Tuesday.

The onchain data provider said this shows that the network’s “usage continues to grow,” even during periods of market downturns, suggesting investors were capitalizing on dips to buy XRP at a discount.

XRP Ledger: Total number of holders vs. active addresses. Source: Santiment

This aligns with aggressive accumulation by long-term investors who have increased their holdings since the US and Israel-Iran war began. 

A sharp spike in the XRP holder net position change can be seen on March 1, exceeding 351 million XRP, marking it strongest single-day accumulation since Feb. 1.

XRP holder net position change. Source: Glassnode

XRP holder net position change tracks the 30-day supply shift among long-term investors, with positive readings indicating net accumulation.

Meanwhile, XRP whales, entities holding large amounts of tokens, have bought more since the beginning of March.

The chart below shows that XRP’s Whale Flow 30-day moving average (30DMA) turned positive in March for the first time since November 2025, ending four months of persistent selling.

XRP Whale Flow. Source: CryptoQuant

This may continue to boost XRP’s price in the coming weeks, particularly when coupled with a reducing balance on exchanges, which has dropped to levels last seen in May 2021.

XRP price needs to flip $1.60 into support

Data from TradingView shows XRP attempting to breach the $1.50-$1.60 resistance that has capped the price for over six weeks.

XRP price “needs to move above the $1.51 resistance,” analyst CryptoWZRD_ said in a recent X post, adding:

“Holding above that level would offer a quick rally towards the $2.0 resistance.”

The last time the XRP/USD pair reclaimed this level was in December 2024. It rallied 90% in less than a week. In April 2025, it served as a launchpad for a 64% XRP price rally, as shown in the chart below.

XRP/USD daily chart. Source: Cointelegraph/TradingView

Analyst CW8900 said the area between $1.50-$1.52 was a big “sell wall” for XRP, adding:

“If it breaks through this sell wall, there is no other resistance until $1.95.”

This level aligns with the measured target of a rounded bottom chart pattern and the 200-day simple moving average (SMA).

XRP/USD daily chart. Source: Cointelegraph/TradingView

Before reaching this level, bulls are required to push the price above the pattern’s trend line at $1.60, validating the breakout.

As Cointelegraph reported, a decisive break above the upper trend line of a falling wedge at $1.60 would shift the bulls’ focus to the measured target at $2.55 next, potentially ending the downtrend.