Sunday, March 23, 2008

Credit Cards in Sg

In 2005, there were about 4.45 million cards.
In January 2008, the number jumped to 5.72million.

The average spending per month of credit card-holders is rising:
from $3,755 in 2005
to $4,272 2997
figures from the Credit Bureau (Singapore) show.

Last December, the total amount of 'rollover' credit debt - when a card holder pays only the minimum allowed every month, carrying over the remainder to the following month - also hit a new high, crossing $3 billion for the first time.