UK consumer credit growth

Source: Bank of England, series LPMB4TC. Monthly, in the Bank's Money and Credit release near the end of the following month; August 2026 data were published on 29 September 2026

UK consumer credit growth: every value, by year, with a CSV download →

What it measures

Consumer credit is borrowing by individuals that is not secured on property: credit cards, overdrafts, personal loans and car finance arranged through dealerships, from banks and other lenders. The figure shown is how much the total amount outstanding has grown over the past 12 months, after taking out the effect of write-offs and other changes that are not new borrowing or repayment. Since August 2012 the Bank of England has excluded government student loans from this series; it publishes a separate annual update that includes them.

How to read it

Growth in borrowing can reflect stronger spending and confidence, or households topping up budgets; the figure alone does not show which. The Bank also publishes the monthly net flow in pounds, which news reports often lead with, and separate growth rates for credit cards and for other loans. Consumer credit is small next to mortgage debt, so a high growth rate can still be a modest amount of money. Interest rates charged on credit cards and loans are in the Bank's effective rates release. For total household and business borrowing and deposits, see the money supply measures in the same database.

Background

The series starts in March 1994. Growth peaked at 17.7% in October 1998 and slowed in the financial crisis, turning negative in August 2009. It recovered to about 10% a year between 2016 and 2017, then fell during the coronavirus pandemic, when borrowers repaid more than they borrowed, reaching minus 9.9% in February 2021, the lowest in the series. In August 2026 annual growth was 9.6%, the highest since June 2018.

How fast is consumer credit growing in the UK?

When this page was checked on 13 October 2026, the Bank of England reported annual growth in consumer credit of 9.6% in August 2026, up from 9.3% in July, published on 29 September 2026. Credit card borrowing grew by 13.3% and other forms of consumer credit by 7.9%.

How much did people borrow on credit cards last month?

The Bank reported net borrowing of consumer credit of £2.5 billion in August 2026, of which £1.2 billion was on credit cards and £1.3 billion through other loans such as car dealership finance and personal loans.

How much consumer credit debt is there in the UK?

The Bank of England publishes the total amount outstanding, excluding student loans, as series LPMBI2O. In August 2026 it was about £259.5 billion. Figures for credit cards and for other loans are published separately.

Does consumer credit include student loans?

Not in the monthly figures. Since August 2012 the Bank has excluded loans made through government student finance schemes, to make trends in other borrowing clearer. Each July it publishes an annual update including student loans data from the Student Loans Company.

What interest rate is charged on credit cards?

The Bank of England publishes average effective interest rates on credit cards, overdrafts and personal loans in its monthly effective interest rates release, which comes out alongside Money and Credit.

Related questions

• Where can I find UK lending and mortgage approvals data?
• What is the UK M4 money supply?
• How do I use the Bank of England statistical database?
• How much student loan debt is there in the UK?

More on this source: Bank of England Statistical Interactive Database