Credit Card Debt in PH at “Critical Risk,” Exceeds Four Months of Average Income
( dateline 2025 Spot Phils.)
while overall household debt in the Philippines is relatively low, those with access to credit cards are relying heavily on them. With limited access to other financial tools, credit cards are often the go-to option for covering everyday expenses, emergency bills, or even just getting by.
The study noted that other countries in the region have already started addressing similar concerns. Thailand has expanded its debt consolidation program, Malaysia has introduced stricter lending rules, and Singapore continues to invest in financial literacy campaigns. The study makes no mention of similar efforts in the Philippines.