Interest in credit-based financial products by US citizens is likely to reignite in 2013, a quarterly survey of US bank risk professionals by Credit analysts FICO has suggested.

The report, conducted by the Professional Risk Managers Association (PRIMA) for FICO, found that 59% of bankers expect credit card balances to increase, whilst 61% of risk managers expected the amount of credit requested by customers to rise over the next six months. 61% also predicted an increase in the numbers of requests for a credit line.

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However, despite the expectations that consumer demand for credit based services is growing, the survey revealed that bankers would still like consumers to be cautious. 39% stated that they believed consumers should follow the advice ‘These are uncertain times; save your money’ in regards to their personal finances over the New Year.

Andrew Jennings, chief analytics officer at FICO and head of FICO Labs, said: "These results indicate that 2013 could be the year that Americans begin to embrace credit again, after the considerable deleveraging we’ve seen since 2008, with both the job market and real estate sector showing signs of life, American consumers may again be willing to fund their lifestyles by taking on more debt. And it appears that banks are willing to oblige."

In October, a FICO survey revealed that the bankers believed that the consumer credit market was returning to normalcy with delinquency rates down on every type of loan except student loans.

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