Credit Card Debt in ASEAN and Beyond 2025

The report reveals that Singapore has one of the highest average credit card balances in the region with cardholders carrying an average of S$5,335 equivalent to 86% of the average monthly income. While this may appear significant, ROSHI's analysis suggests that strong repayment habits and access to advanced financial infrastructure mean that credit card usage in Singapore is largely strategic rather than unsustainable.

However, the situation varies dramatically across the region. In the Philippines, the average credit card balance stands at S$2,092, while the average monthly income is just S$492 resulting in a debt-to-income ratio of over 425%. This finding highlights growing consumer vulnerability in emerging markets with limited access to affordable credit solutions.

"Our research shows that while Singaporeans are carrying high card balances, they tend to use credit more strategically for cashback and point rewards compared to some of their regional neighbours," said Mr. Amir Nada, ROSHI CEO. "But with interest rates on credit cards still hovering around 25–29%, it's critical for consumers to remain proactive in how they manage unsecured debt."

The report also explores regional macroeconomic trends including inflation, interest rate environments and digital financial adoption offering a broader context to credit card debt dynamics across ASEAN and beyond.

ROSHI remains committed to providing transparent, data-led insights to support smarter financial decisions for individuals in Singapore and the wider Southeast Asian region.

The full report is available at: https://www.roshi.sg/credit-card-debt-report-asean-and-beyond/

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