Singapore Credit and Charge Cardholders breaking the 6 millions mark

January 12, 2011

The number of credit and charge cardholders in Singapore reaching 6,022,786 as of October 2010. The number of supplementary cardholders stand at 1,369,820 as of October 2010.

This is a significant figure in the republic with an estimated total population(residents and non-residents) of 5,076,700 as at 2010. The Singapore resident(citizens and permanent residents) stand at 3,771,700 in the same period.

It took almost two years to breakthrough the one million mark; where the number of cardholders was at 5,025,587 as of November 2008.

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Singaporeans Credit Card Selection Criteria and Payment Habit

March 25, 2009

Survey shown when it comes to credit card selection for Singaporeans, the following criteria are on top of thier mind:-
convenience of use and protection, economics, and flexibility.

Interestingly, the males and females are attracted to different factors when choosing a credit card. Females were shown to value the promotional factor more, while males preferred the economic factor.

The following groups in Singapore tends to pay their monthly credit card balances in full:-
higher income earners, the better educated, older adults, females, married, and both Chinese and Indians.


Bad Debts Written Off for Credit Cards in Singapore increased by 5.97%

March 25, 2009

In the credit and charge card statistics, Monetary Authority of Singapore(MAS) shown that there are 4,472,262 of main cardholders and 1,173,988 of supplementary cardholders in Singapore as at 2007.

In December 2008, there are 5,056,582 of main cardholders and 1,221,333 of supplementary cardholders in Singapore. This is an increase of by 584,320 or 13.07% in 12 months period, while the supplementary cardholders has increased by 47,345 or 4.03% in the same period.

For detailed statistics such as total card billings, rollover balance and bad debts written off, please visit the site at Singapore credit cards comparison and online applications

The bad debts written off increased in 12 months(from 2007 to 2008) by 5.97% to S$S$115.4 million.