Singapore-based fintech company ROSHI has released a comprehensive report on credit card debt across Southeast Asia, revealing significant disparities in how consumers manage high-interest unsecured debt. The report, titled “Credit Card Debt in ASEAN and Beyond 2025,” highlights that Singaporean cardholders have one of the highest average credit card balances in the region, at S$5,335, which is 86% of the average monthly income. Despite this, ROSHI’s analysis indicates that Singaporeans use credit cards strategically, benefiting from cashback and point rewards due to their strong repayment habits and access to advanced financial infrastructure.
In stark contrast, the report shows that in the Philippines, the average credit card balance is S$2,092, with an average monthly income of just S$492. This results in a debt-to-income ratio exceeding 425%, underscoring the financial vulnerability faced by consumers in emerging markets with limited access to affordable credit solutions. ROSHI CEO Amir Nada commented, “Whilst Singaporeans are carrying high card balances, they tend to use credit more strategically compared to some of their regional neighbours.”
The report also examines broader macroeconomic trends such as inflation, interest rates, and digital financial adoption, providing context to the credit card debt dynamics across the ASEAN region. ROSHI remains dedicated to offering transparent, data-led insights to aid smarter financial decisions for individuals in Singapore and Southeast Asia. The full report is available on ROSHI’s website.
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