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Credit cards in Singapore
As of 31st March 2017, there are 7,769,355 of main cardholders and 1,426,509 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.03% or 2,024 compares to 7,771,379 cardholders as at 28th February 2017. Whereas the number of supplementary cardholders decreased by 2.03% or 29,570 compares to 1,456,079 cardholders as at 28th February 2017. Total card billings for March 2017 is S$4.4748 billion with rollover balance of S$5.0791 billion, and S$27.9 million bad debts are written off in the month. Charge-off rate for first quarter 2017 stood at 6.5%.

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Editors' Choice for Singapore Credit Card
The American Express True Cashback Card
American Express True Cashback Card

  • 3% Cashback on up to a total of S$5,000 spend for the first 6 months.
  • Plus a fee waiver for the first year.
  • Thereafter, 1.5% Cashback on purchases of good and services you make, anytime...


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HSBC's Revolution
Credit Card
HSBC Revolution Credit Card

  • Sign up for HSBC's Revolution Credit Card now and enjoy 2 years annual fee waiver with attractive gifts.
  • 5x Rewards on online, dining and entertainment transaction everyday
  • 1x Rewards on all other transactions...

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Citi Cash Back Visa Card
Citi Cash Back Visa Card

  • 8% cash back on Dining, Grab rides and Groceries daily.
  • Plus, 20% cash back on all Grab rides from 7 April - 6 July 2017!
  • Up to 20.88% fuel savings at Esso & Shell, and 8% cash back at all other petrol stations worldwide....

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Click here now for more Rewards Credit offers...
Credit Card Eligibility in Singapore

Monetary Authority of Singapore, or better known as MAS is the central bank of Singapore. MAS administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, including currency issuance.

To apply for a credit card in Singapore, a minimum annual income S$30,000 p.a. is required for Singaporean or Permanent Residents. Whereas for self-employed or foreigners working in Singapore, a higher minimum annual income of S$36,000 p.a. is required.

To be a supplementary cardholder in Singapore, you need be 18 years old and above.

Monthly Statistics 2017

As of 31st January 2017, there are 7,793,842 of main cardholders and 1,434,048 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.31% or 24,312 compares to 7,818,154 cardholders as at 31st December 2016. Whereas the number of supplementary cardholders decreased by 0.32% or 4,541 compares to 1,438,589 cardholders as at 31st December 2016. Total card billings for January 2017 is S$4.3291 billion with rollover balance of S$5.3055 billion, and S$28.8 million bad debts are written off in the month.

As of 28th February 2017, there are 7,771,379 of main cardholders and 1,456,079 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.29% or 22,463 compares to 7,793,842 cardholders as at 31st January 2017. Whereas the number of supplementary cardholders increased by 1.54% or 22,031 compares to 1,434,048 cardholders as at 31st January 2017. Total card billings for February 2017 is S$3.9662 billion with rollover balance of S$5.4437 billion, and S$26.8 million bad debts are written off in the month.

Credit cards in Singapore 2015-2016

In accordance to MAS credit and charge card statistics, there are 7,818,154 of main cardholders and 1,438,589 of supplementary cardholders in Singapore as at December 2016, compares to 8,044,900 of main cardholders and 1,490,254 of supplementary cardholders as at December 2015.
This shown the number of main cardholders has decreased by 226,746 or 2.82% in 12 months period. This decrease is inline with Singapore Government efforts to curb credit card debt in the country. On the other hand, the number of supplementary cardholders has decreased by 51,665 or 3.47% in 12 months period.

Total Card Billings and Bad Debts Written Off
Total card billings for 2016 is S$49.90 billion with rollover balance of S$5.30 billion, compares to S$47.10 billion billings with rollover balance of S$5.29 billion in 2015. Overall, the total billing increased by 5.94%, and rollover balance increased by 0.19% compared to 3.82% decreased a year ago.
In 2016, the bad debts written off for Singapore credit and charge card has increased by 0.06% or S$0.2 million to S$319.3 million, compares to S$319.1 million in 2015. Charge-off rate in year 2016 has increased to 6.1% from 5.9% in year 2015.

Asia Credit Cards at a glance

  • As at 31 March 2017, the number of credit cards in Singapore stood at 7,769,355 of main cardholders and 1,426,509 for supplementary cardholders with S$27.9 million bad debts are written off in the month.

    As at 31 March 2017, consumer loans in Singapore is amounted to SGD$251,367.6 millions, an increase of 0.21% compares to SGD$250,852.7 millions as at 28 February 2017. Total credit cards loans is amounted to SGD$10,260.3 millions as at 31 March 2017.

    As at 31 December 2016, there are 7,818,154 main cardholders in Singapore, a decrease of 2.82% in 12 months period. Whereas supplementary cardholders decrease by 3.47% to 1,438,589. For the twelve months ended 31 December 2016, total card billings amounted to SGD$49.90 billion.

    As at 31 December 2016, consumer loans in Singapore is amounted to SGD$250,339.5 millions, an increase of 3.12% in 12 months period.



  • As at 30 April 2017, there are 40,723,016 credit cards in Taiwan, however only 27,001,779 cards are active. A total of 558,429 cards is issued in the month of March 2017. The total credit cards spending for April 2017 in Taiwan is NT$185.27 billion, made up of NT$183.41 billion in purchases and NT$1.86 billion in cash advance.

    As at 30 April 2017, total outstanding consumer loans in Taiwan stood at NT$7.705881 trillions(credit card loans stood at NT$106.481 billions), an increase of NT$26.939 billions or 0.35% compares to NT$7.678942 trillions as at 31 March 2016.

    As at 31 December 2016, the number of credit cards in Taiwan increase by 5.67% to 40,701,606, compares to the same period a year ago. Total credit cards spending for 2016 in Taiwan is NT$2.422 trillions.

    As at 31 December 2016, total outstanding consumer loans in Taiwan stood at NT$7.662371 trillions, an increase of 2.86% in 12 months period.



  • As at 31 December 2016, there are 16,607,000 credit card accounts in Hong Kong, an increase of 64,000 or 0.39% in 3 months period(compares to 16,543,000 as at 30 September 2016). The rollover amount stood at HKD$22,734 millions as at 31 December 2016.

    As at 31 December 2016, there are 19,184,000 credit cards in Hong Kong, a decrease of 0.11% compares to a quarter ago. 151,686,000 credit card transactions recorded in Q4,2016, generating HKD$167.236 billions.
    For the 12 months ended 31 December 2016, 563,940,000 credit card transactions recorded, with a total value of HKD$611.992 billions.

    As at 31 December 2016, outstanding professional and private loans in Hong Kong stood at HKD$1,684,398 millions, an increase of 2.71% compares to HKD$1,639,916 millions a quarter ago. Credit card advances stood at HKD$120,823 millions as at 31 December 2016, an increase of 8.34% compares to a quarter ago.

    The number of credit cards in Hong Kong increase by 0.74% or 140,000 to 19,184,000 as at 31 December 2016, compares to the same period a year ago. In 2016, a total of 563,940,000 credit card transactions recorded, generating HKD$611.992 billions.

    As at 31 December 2016, total outstanding professional and private loans in Hong Kong stood at HKD$1,684,398 millions, an increase of 4.69% compares to HKD$1,608,906 millions the same period a year ago. Credit card advances stood at HKD$120,823 millions as at 31 December 2016, an increase of 2.53% compares to a year ago.



  • As at 28 February 2017, the number of credit cards in Thailand stood at 19,826,335, with 40.373 millions transactions amounting to THB145 billions recorded in January 2017.

    As at 28 February 2017, there are 12,196,651 outstanding personal loan account in Thailand, with a total outstanding value of THB331,421 millions(a decrease of 0.22% compares to THB332,166 millions as at 31 January 2017).

    As at 31 December 2016, the number of credit cards in Thailand increase by 6.38% to 23,151,164. And the total credit cards spending for 2016 in Thailand continue to rise by 5.80% to THB1,824 billions.

    As at 31 December 2016, total personal loan outstanding value increased by 4.15% to THB338,117 millions compares to the same period a year ago.



  • As at 31 December 2016, there are 111 millions bank cards in Vietnam. For the 12 months ended 31 December 2016, 97,486,078 transactions recorded at POS/EFTPOS/EDC terminals, generating VND250,009 billions.

    As at 31 December 2016, the number of bank cards in Vietnam increase by 11.54% or 11.48 millions to 111 millions. 97,486,078 transactions recorded at POS/EFTPOS/EDC terminals in 2016, generating VND250,009 billions.



  • As at 30 April 2017, there are 31.32 millions credit cards in India. The total credit cards spending for April 2017 in India is INR333.76 billions, out of 107.06 millions transactions.

    For the 3 months ended 31 March 2017, a total of 316.69 millions transactions is recorded in India with a total value of INR953.77 billions.

    As at 31 December 2016, the number of credit cards in India increase by 24.48% to 28.32 million. The total credit cards spending for 2016 in India up by 31.10% to INR3,011.66 billions, with 32.58% increase in number of card transactions.

    As at 31st March 2015, outstanding personal loans in India stood at INR11,440 billion, an increase of 12.48% compares to the same period a year ago.



  • As at 30 April 2017, there are 17,661,935 credit cards in Indonesia. The total credit cards transactions for April 2017 in Indonesia is IDR23,410,046 millions, out of 26,704,833 transactions(26,029,722 recorded for purchases with IDR22,684,843 millions in value and 675,111 recorded for cash withdrawal with IDR725,203 millions in value).
    For the 3 months ended 31 March 2017, a total of 80,741,566 transactions is recorded in Indonesia with a total value of IDR72,011,994 millions.

    As at 31 March 2017, outstanding personal loan in Indonesia stood at IDR749,174 billions, an increase of 1.02% compares to IDR741,634 billions as at 28 February 2017.

    As at 31 December 2016, the number of credit cards in Indonesia increase by 3.22% to 17,406,327. The total credit cards transactions for 2016 in Indonesia up by 0.17% to IDR281,020,518 millions, with 8.43% increase in number of card transactions.



  • As at 31 March 2016, the number of credit cards in Philippines stood at 8,046,867, with 44.61 millions transactions amounting to PHP$169.543 billions recorded for the 3 months ended 31 March 2016.

    As at 30 June 2016, credit card receivables stood at PHP$224.576 billions in Philippines, an increase of 3.75% compares to PHP$216.454 billions as at 31 March 2016.

    As at 31 December 2015, the number of credit cards in Philippines stood at 8,043,465. A total of 137.86 millions credit card payment transactions recorded in 2015, amounted to PHP$516.769 billions.

    As at 31 December 2015, credit card receivables increase by 9.05% to PHP$222.314 billions in 12 months period.



  • As at 31 January 2017, the number of credit cards in Malaysia stood at 8,182,795 for main cardholders and 1,002,298 for supplementary cardholders, with 34.7 million transactions amounting to MYR$10.7 billion recorded in the month.

    For the 12 months ended 31 December 2016, there are 383.8 millions of credit card payment transactions, with a total value of MYR$118.5 billions recorded.

    Loans for credit card in Malaysia stood at MYR36,723.585 millions as at 31 January 2017, a decrease of 0.60% compares to previous month. MYR10,120.463 millions credit card loans disbursed in January 2017.

    As at 31 December 2016, the number of credit cards in Malaysia increase by 6.58% to 9,178,458. And the total credit cards spending for 2016 in Malaysia continue to rise by 5.15% to MYR118.5 billions, out of 383.8 millions transactions.

    As at 31 January 2017, personal loans in Malaysia stood at MYR66,611.899 millions, a decrease of 0.10% compares to previous month. MYR2,208.764 millions personal loans are disbursed in January 2017.

    As at 31 December 2016, personal loans in Malaysia stood at MYR66,679.942 millions an increase of 4.67% compares to the same period a year ago. MYR27,654.098 millions personal loans are disbursed in 2016.



  • As at 31 March 2017, there are 96,488,000 credit cards in South Korea, made up of 88,435,000 personal credit cards and 8,054,000 corporate credit cards. For the month of March 2017, 970,652,000 transactions recorded with a total value of KRW59.490460 trillions.

    As at 31 December 2016, the number of credit cards in South Korea increase by 2.73% to 95,639,000. Personal credit cards increase by 3.34% while corporate credit card decrease by 3.55%. A total of KRW675.76 trillions credit cards spending recorded in 2016, out of 10.66 billions transactions.



  • For the month of February 2017, JPY3.91 trillion credit card transactions recorded in Japan(JPY3.78 trillion for purchases and JPY0.13 trillion for cash advances).

    As at 31 March 2016, the number of credit cards in Japan increase by 2.74% to 266.00 millions, compares to the same period a year ago. The total credit card transactions for 2016 increased by 8.23% to JPY53.93 trillions, compares to 2015.



  • As at 31 December 2015, the number of credit cards in China decrease by 5.03% to 432.2065 million. The total payment cards(credit and debit cards) spending for 2015 in China up by 29.77% to CNY55,001 billions, with 46.95% increase in number of card transactions.

Credit cards in Singapore 2014-2015

In accordance to MAS credit and charge card statistics, there are 8,044,900 of main cardholders and 1,490,254 of supplementary cardholders in Singapore as at December 2015, compares to 8,156,466 of main cardholders and 1,554,840 of supplementary cardholders as at December 2014.
This shown the number of main cardholders has decreased by 111,566 or 1.37% in 12 months period. This decrease is inline with Singapore Government efforts to curb credit card debt in the country. On the other hand, the number of supplementary cardholders has decreased by 64,586 or 4.15% in 12 months period.

Total card billings for 2015 is S$47.10 billion with rollover balance of S$5.29 billion, compares to S$44.58 billion billings with rollover balance of S$5.50 billion in 2014. Overall, the total billing increased by 5.65%, and rollover balance decreased by 3.82% compared to 2.61% growth a year ago.
In 2015, the bad debts written off for Singapore credit and charge card has increased by 16.50% or S$45.2 million to S$319.1 million, compares to S$273.9 million in 2014. Charge-off rate in year 2015 has increased to 5.9% from 5.1% in year 2014.


Monthly Statistics 2016

As of 31st January 2016, there are 7,991,039 of main cardholders and 1,480,015 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.67% or 53,861 compares to 8,044,900 cardholders as at 31st December 2015. Whereas the number of supplementary cardholders decreased by 0.69% or 10,239 compares to 1,490,254 cardholders as at 31st December 2015. Total card billings for January 2016 is S$4.0062 billion with rollover balance of S$5.4232 billion, and S$27.5 million bad debts are written off in the month. Charge-off rate for fourth quarter 2015 stood at 6.8%.

As of 29th February 2016, there are 7,970,193 of main cardholders and 1,476,063 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.26% or 20,846 compares to 7,991,039 cardholders as at 31st January 2016. Whereas the number of supplementary cardholders decreased by 0.27% or 3,952 compares to 1,480,015 cardholders as at 31st January 2016. Total card billings for February 2016 is S$3.7365 billion with rollover balance of S$5.4361 billion, and S$26.6 million bad debts are written off in the month.

As of 31st March 2016, there are 7,947,958 of main cardholders and 1,472,542 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.28% or 22,235 compares to 7,970,193 cardholders as at 29th February 2016. Whereas the number of supplementary cardholders decreased by 0.24% or 3,521 compares to 1,476,063 cardholders as at 29th February 2016. Total card billings for March 2016 is S$4.0961 billion with rollover balance of S$5.1501 billion, and S$29.6 million bad debts are written off in the month. Charge-off rate for first quarter 2016 stood at 6.4%.

As of 30th April 2016, there are 7,951,653 of main cardholders and 1,471,818 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.05% or 3,695 compares to 7,947,958 cardholders as at 31st March 2016. Whereas the number of supplementary cardholders decreased by 0.05% or 724 compares to 1,472,542 cardholders as at 31st March 2016. Total card billings for April 2016 is S$3.9227 billion with rollover balance of S$5.1908 billion, and S$27.5 million bad debts are written off in the month.

As of 31st May 2016, there are 7,950,186 of main cardholders and 1,467,578 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.02% or 1,467 compares to 7,951,653 cardholders as at 30th April 2016. Whereas the number of supplementary cardholders decreased by 0.29% or 4,240 compares to 1,471,818 cardholders as at 30th April 2016. Total card billings for May 2016 is S$4.1971 billion with rollover balance of S$5.1367 billion, and S$26.1 million bad debts are written off in the month.

As of 30th June 2016, there are 7,911,785 of main cardholders and 1,462,547 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.48% or 38,401 compares to 7,950,186 cardholders as at 31st May 2016. Whereas the number of supplementary cardholders decreased by 0.34% or 5,031 compares to 1,467,578 cardholders as at 31st May 2016. Total card billings for June 2016 is S$4.0928 billion with rollover balance of S$5.2576 billion, and S$26.8 million bad debts are written off in the month. Charge-off rate for second quarter 2016 stood at 6.3%.

As of 31st July 2016, there are 7,912,995 of main cardholders and 1,462,120 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.02% or 1,210 compares to 7,911,785 cardholders as at 30th June 2016. Whereas the number of supplementary cardholders decreased by 0.03% or 427 compares to 1,462,547 cardholders as at 30th June 2016. Total card billings for July 2016 is S$3.9509 billion with rollover balance of S$5.2527 billion, and S$27.9 million bad debts are written off in the month.

As of 31st August 2016, there are 7,912,757 of main cardholders and 1,458,361 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.003% or 238 compares to 7,912,995 cardholders as at 31st July 2016. Whereas the number of supplementary cardholders decreased by 0.26% or 3,759 compares to 1,462,120 cardholders as at 31st July 2016. Total card billings for August 2016 is S$4.1255 billion with rollover balance of S$5.1614 billion, and S$25.7 million bad debts are written off in the month.

As of 30th September 2016, there are 7,917,122 of main cardholders and 1,456,145 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.06% or 4,365 compares to 7,912,757 cardholders as at 31st August 2016. Whereas the number of supplementary cardholders decreased by 0.15% or 2,216 compares to 1,458,361 cardholders as at 31st August 2016. Total card billings for September 2016 is S$4.1409 billion with rollover balance of S$5.2748 billion, and S$22.8 million bad debts are written off in the month. Charge-off rate for third quarter 2016 stood at 6.0%.

As of 31st October 2016, there are 7,847,730 of main cardholders and 1,450,219 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.88% or 69,392 compares to 7,917,122 cardholders as at 30th September 2016. Whereas the number of supplementary cardholders decreased by 0.41% or 5,926 compares to 1,456,145 cardholders as at 30th September 2016. Total card billings for October 2016 is S$4.3119 billion with rollover balance of S$5.2261 billion, and S$23.4 million bad debts are written off in the month.

As of 30th November 2016, there are 7,832,090 of main cardholders and 1,444,398 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.20% or 15,640 compares to 7,847,730 cardholders as at 31st October 2016. Whereas the number of supplementary cardholders decreased by 0.40% or 5,821 compares to 1,450,219 cardholders as at 31st October 2016. Total card billings for November 2016 is S$4.5244 billion with rollover balance of S$5.3458 billion, and S$27.6 million bad debts are written off in the month.

As of 31st December 2016, there are 7,818,154 of main cardholders and 1,438,589 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.18% or 13,936 compares to 7,832,090 cardholders as at 30th November 2016. Whereas the number of supplementary cardholders decreased by 0.40% or 5,809 compares to 1,444,398 cardholders as at 30th November 2016. Total card billings for December 2016 is S$4.7991 billion with rollover balance of S$5.3013 billion, and S$27.7 million bad debts are written off in the month. Charge-off rate for fourth quarter 2016 stood at 6.1%.


Monthly Statistics 2015

As of 31st December 2015, there are 8,044,900 of main cardholders and 1,490,254 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.25% or 20,328 compares to 8,065,228 cardholders as at 30th November 2015. Whereas the number of supplementary cardholders decreased by 0.38% or 5,755 compares to 1,496,009 cardholders as at 30th November 2015. Total card billings for December 2015 is S$4.4855 billion with rollover balance of S$5.2903 billion, and S$30.5 million bad debts are written off in the month. Charge-off rate for fourth quarter 2015 stood at 6.8%.

As of 30th November 2015, there are 8,065,228 of main cardholders and 1,496,009 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.06% or 4,912 compares to 8,070,140 cardholders as at 31st October 2015. Whereas the number of supplementary cardholders decreased by 0.34% or 5,076 compares to 1,501,085 cardholders as at 31st October 2015. Total card billings for November 2015 is S$4.1060 billion with rollover balance of S$5.4174 billion, and S$29.6 million bad debts are written off in the month.

As of 31st October 2015, there are 8,070,140 of main cardholders and 1,501,085 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.13% or 10,255 compares to 8,080,395 cardholders as at 30th September 2015. Whereas the number of supplementary cardholders decreased by 0.55% or 8,351 compares to 1,509,436 cardholders as at 30th September 2015. Total card billings for October 2015 is S$4.1153 billion with rollover balance of S$5.2817 billion, and S$28.0 million bad debts are written off in the month.

As of 30th September 2015, there are 8,080,395 of main cardholders and 1,509,436 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.17% or 13,398 compares to 8,093,793 cardholders as at 31st August 2015. Whereas the number of supplementary cardholders decreased by 0.23% or 3,471 compares to 1,512,907 cardholders as at 31st August 2015. Total card billings for September 2015 is S$3.8372 billion with rollover balance of S$5.3772 billion, and S$27.2 million bad debts are written off in the month. Charge-off rate for third quarter 2015 stood at 6.2%.

As of 31st August 2015, there are 8,093,793 of main cardholders and 1,512,907 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.26% or 20,811 compares to 8,114,604 cardholders as at 31st July 2015. Whereas the number of supplementary cardholders decreased by 0.38% or 5,816 compares to 1,518,723 cardholders as at 31st July 2015. Total card billings for August 2015 is S$3.7958 billion with rollover balance of S$5.2714 billion, and S$27.6 million bad debts are written off in the month.

As of 31st July 2015, there are 8,114,604 of main cardholders and 1,518,723 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.41% or 33,353 compares to 8,147,957 cardholders as at 30th June 2015. Whereas the number of supplementary cardholders decreased by 0.51% or 7,775 compares to 1,526,498 cardholders as at 30th June 2015. Total card billings for July 2015 is S$3.9178 billion with rollover balance of S$5.2445 billion, and S$26.0 million bad debts are written off in the month.

As of 30th June 2015, there are 8,147,957 of main cardholders and 1,526,498 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.18% or 14,417 compares to 8,162,374 cardholders as at 31st May 2015. Whereas the number of supplementary cardholders decreased by 0.37% or 5,724 compares to 1,532,222 cardholders as at 31st May 2015. Total card billings for June 2015 is S$3.9804 billion with rollover balance of S$5.4018 billion, and S$24.5 million bad debts are written off in the month. Charge-off rate for second quarter 2015 stood at 5.7%.

As of 31st May 2015, there are 8,162,374 of main cardholders and 1,532,222 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.03% or 2,356 compares to 8,160,018 cardholders as at 30th April 2015. Whereas the number of supplementary cardholders decreased by 0.75% or 11,554 compares to 1,543,776 cardholders as at 30th April 2015. Total card billings for May 2015 is S$3.8922 billion with rollover balance of S$5.4257 billion, and S$25.8 million bad debts are written off in the month.

As of 30th April 2015, there are 8,160,018 of main cardholders and 1,543,776 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.04% or 3,663 compares to 8,163,681 cardholders as at 31st March 2015. Whereas the number of supplementary cardholders decreased by 0.14% or 2,108 compares to 1,545,884 cardholders as at 31st March 2015. Total card billings for April 2015 is S$3.7564 billion with rollover balance of S$5.4499 billion, and S$25.1 million bad debts are written off in the month.

As of 31st March 2015, there are 8,163,681 of main cardholders and 1,545,884 of supplementary cardholders in Singapore. The number of main cardholders decreased by 0.05% or 4,028 compares to 8,167,709 cardholders as at 28th February 2015. Whereas the number of supplementary cardholders decreased by 0.36% or 5,576 compares to 1,551,460 cardholders as at 28th February 2015. Total card billings for March 2015 is S$3.9070 billion with rollover balance of S$5.3639 billion, and S$25.0 million bad debts are written off in the month. Charge-off rate for first quarter 2015 stood at 5.5%.

As of 28th February 2015, there are 8,167,709 of main cardholders and 1,551,460 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.13% or 10,883 compares to 8,156,826 cardholders as at 31st January 2015. Whereas the number of supplementary cardholders decreased by 0.19% or 3,016 compares to 1,554,476 cardholders as at 31st January 2015. Total card billings for February 2015 is S$3.4475 billion with rollover balance of S$5.7732 billion, and S$25.0 million bad debts are written off in the month.

As of 31st January 2015, there are 8,156,826 of main cardholders and 1,554,476 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.004% or 360 compares to 8,156,466 cardholders as at 31st December 2014. Whereas the number of supplementary cardholders decreased by 0.02% or 364 compares to 1,554,840 cardholders as at 31st December 2014. Total card billings for January 2015 is S$3.8328 billion with rollover balance of S$5.5461 billion, and S$24.8 million bad debts are written off in the month.


Credit cards in Singapore 2013-2014

In accordance to MAS credit and charge card statistics, there are 7,984,608 of main cardholders and 1,573,936 of supplementary cardholders in Singapore as at December 2013. As of December 2014, there are 8,156,466 of main cardholders and 1,554,840 of supplementary cardholders in Singapore.
This shown the number of main cardholders has jumped by 171,858 or 2.11% in 12 months. This slow growth reflects the effort by Singapore Government to curb credit card debt in the country. On the other hand, the number of supplementary cardholders has decreased by 19,096 or 1.21% in the same period.

Total card billings for 2013 is S$41.60 billion with rollover balance of S$5.36 billion. Whereas the total card billings for 2014 is at S$44.58 billion, with rollover balance of S$5.50 billion. Overall, the total billing increased by 7.16%, and rollover balance increased by 2.61% compared to 7.41% a year ago.
Bad debts written off for Singapore credit and charge card in 2013 is S$247.8 million. In 2014 the bad debts written off has increased by 10.53% or S$26.1 million to S$273.9 million. Charge-off rate in year 2014 has increased to 5.1% from 4.8% in year 2013.


Monthly Statistics 2014

As of 31st December 2014, there are 8,156,466 of main cardholders and 1,554,840 of supplementary cardholders in Singapore. The number of main cardholders decreased by 1.55% or 128,060 compares to 8,284,526 cardholders as at 30th November 2014. Whereas the number of supplementary cardholders decreased by 0.60% or 9,383 compares to 1,564,223 cardholders as at 30th November 2014. Total card billings for December is S$4.3651 billion with rollover balance of S$5.5006 billion, and S$23.5 million bad debts are written off in the month. Charge-off rate for fourth quarter 2014 stood at 5.5%.

As of 30th November 2014, there are 8,284,526 of main cardholders and 1,564,223 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.76% or 62,298 compares to 8,222,228 cardholders as at 31st October 2014. Whereas the number of supplementary cardholders decreased by 0.05% or 787 compares to 1,565,010 cardholders as at 31st October 2014. Total card billings for November is S$3.8246 billion with rollover balance of S$5.6725 billion, and S$24.7 million bad debts are written off in the month.

As of 31st October 2014, there are 8,222,228 of main cardholders and 1,565,010 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.32% or 26,063 compares to 8,196,165 cardholders as at 30th September 2014. Whereas the number of supplementary cardholders increased by 0.004% or 62 compares to 1,564,948 cardholders as at 30th September 2014. Total card billings for October is S$3.8964 billion with rollover balance of S$5.4248 billion, and S$26.4 million bad debts are written off in the month.

As of 30th September 2014, there are 8,196,165 of main cardholders and 1,564,948 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.26% or 21,604 compares to 8,174,561 cardholders as at 31st August 2014. Whereas the number of supplementary cardholders decreased by 0.76% or 11,967 compares to 1,575,849 cardholders as at 31st August 2014. Total card billings for September 2014 is S$3.8889 billion with rollover balance of S$5.4617 billion, and S$24.4 million bad debts are written off in the month. Charge-off rate for third quarter 2014 stood at 5.4%.

As of 31st August 2014, there are 8,174,561 of main cardholders and 1,576,915 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.33% or 26,601 compares to 8,147,960 cardholders as at 31st July 2014. Whereas the number of supplementary cardholders increased by 0.16% or 2,444 compares to 1,574,471 cardholders as at 31st July 2014. Total card billings for August 2014 is S$3.5951 billion with rollover balance of S$5.4726 billion, and S$23.7 million bad debts are written off in the month.

As of 31st July 2014, there are 8,147,960 of main cardholders and 1,574,471 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.14% or 11,742 compares to 8,136,218 cardholders as at 30th June 2014. Whereas the number of supplementary cardholders increased by 0.05% or 788 compares to 1,573,683 cardholders as at 30th June 2014. Total card billings for July 2014 is S$3.6907 billion with rollover balance of S$5.3443 billion, and S$23.7 million bad debts are written off in the month.

As of 30th June 2014, there are 8,136,218 of main cardholders and 1,573,683 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.56% or 45,010 compares to 8,091,208 cardholders as at 31st May 2014. Whereas the number of supplementary cardholders decreased by 0.19% or 2,929 compares to 1,576,612 cardholders as at 31st May 2014. Total card billings for June 2014 is S$3.7351 billion with rollover balance of S$5.3570 billion, and S$22.7 million bad debts are written off in the month. Charge-off rate for second quarter 2014 stood at 5.0%.

As of 31st May 2014, there are 8,091,208 of main cardholders and 1,576,612 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.28% or 22,853 compares to 8,068,355 cardholders as at 30th April 2014. Whereas the number of supplementary cardholders increased by 0.007% or 114 compares to 1,576,498 cardholders as at 30th April 2014. Total card billings for May 2014 is S$3.7350 billion with rollover balance of S$5.2183 billion, and S$21.0 million bad debts are written off in the month.

As of 30th April 2014, there are 8,068,355 of main cardholders and 1,576,498 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.60% or 48,390 compares to 8,019,965 cardholders as at 31st March 2014. Whereas the number of supplementary cardholders increased by 0.11% or 1,662 compares to 1,574,836 cardholders as at 31st March 2014. Total card billings for April 2014 is S$3.4957 billion with rollover balance of S$5.2998 billion, and S$21.6 million bad debts are written off in the month.

As of 31st March 2014, there are 8,019,965 of main cardholders and 1,574,836 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.33% or 26,075 compares to 7,993,890 cardholders as at 28th February 2014. Whereas the number of supplementary cardholders increased by 0.04% or 551 compares to 1,574,285 cardholders as at 28th February 2014. Total card billings for March 2014 is S$3.6819 billion with rollover balance of S$5.190 billion, and S$21.8 million bad debts are written off in the month. Charge-off rate for first quarter 2014 stood at 4.7%.

As of 28th February 2014, there are 7,993,890 of main cardholders and 1,574,285 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.30% or 24,056 compares to 7,969,834 cardholders as at 31st January 2014. Whereas the number of supplementary cardholders increased by 0.04% or 562 compares to 1,573,723 cardholders as at 31st January 2014. Total card billings for February 2014 is S$3.1055 billion with rollover balance of S$5.5009 billion, and S$19.8 million bad debts are written off in the month.

As of 31st January 2014, there are 7,969,834 of main cardholders and 1,573,723 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.19% or 14,774 compares to 7,984,608 cardholders as at 31st December 2013. Whereas the number of supplementary cardholders decreased by 0.01% or 213 compares to 1,573,936 cardholders as at 31st December 2013. Total card billings for January 2014 is S$3.5684 billion with rollover balance of S$5.3556 billion, and S$20.6 million bad debts are written off in the month.


Credit cards in Singapore 2012-2013

In accordance to MAS credit and charge card statistics, there are 7,843,765 of main cardholders and 1,502,591 of supplementary cardholders in Singapore as at December 2012. As of December 2013, there are 7,984,608 of main cardholders and 1,573,936 of supplementary cardholders in Singapore.
This shown the number of main cardholders has jumped by 140,843 or 1.80% in 12 months. This is a much slower growth compares to 13.94% a year ago, which also reflect the effort by Singapore Government to curb the worrying growth of credit card debt in the country. On the other hand, the number of supplementary cardholders has increased by 71,345 or 4.75% in the same period.

Total card billings for 2012 is S$38.42 billion with rollover balance of S$4.99 billion. Whereas the total card billings for 2013 is at S$41.60 billion, with rollover balance of S$5.36 billion. Overall, the total billing increased by 8.28%, and rollover balance increased by 7.41% compared to 9.91% a year ago.
Bad debts written off for Singapore credit and charge card in 2012 is S$226.6 million. In 2013 the bad debts written off has increased by 9.36% or S$21.2 million to S$247.8 million. Charge-off rate in year 2013 is at 4.8%, similar to percentage in year 2012.


Monthly Statistics 2013

As of 31st January 2013, there are 7,909,788 of main cardholders and 1,506,411 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.84% or 66,023 compares to 7,843,765 cardholders as at 31st December 2012. Whereas the number of supplementary cardholders increased by 0.25% or 3,820 compares to 1,502,591 cardholders as at 31st December 2012. Total card billings for January 2013 is S$3.3936 billion with rollover balance of S$4.9702 billion, and S$18.8 million bad debts are written off in the month.

As of 28th February 2013, there are 7,956,872 of main cardholders and 1,510,314 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.60% or 47,084 compares to 7,909,788 cardholders as at 31st January 2013. Whereas the number of supplementary cardholders increased by 0.26% or 3,903 compares to 1,506,411 cardholders as at 31st January 2013. Total card billings for February 2013 is S$2.9532 billion with rollover balance of S$5.2272 billion, and S$19.3 million bad debts are written off in the month.

As of 31st March 2013, there are 7,587,805 of main cardholders and 1,506,270 of supplementary cardholders in Singapore. The number of main cardholders decreased by 4.75% or 378,067 compares to 7,956,872 cardholders as at 28th February 2013. Whereas the number of supplementary cardholders decreased by 0.27% or 4,044 compares to 1,510,314 cardholders as at 28th February 2013. Total card billings for March 2013 is S$3.3512 billion with rollover balance of S$5.0659 billion, and S$19.9 million bad debts are written off in the month. Charge-off rate for first quarter 2013 stood at 4.6%.

As of 30th April 2013, there are 7,644,187 of main cardholders and 1,512,961 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.74% or 56,382 compares to 7,587,805 cardholders as at 31st March 2013. Whereas the number of supplementary cardholders increase by 0.44% or 6,691 compares to 1,506,270 cardholders as at 31st March 2013. Total card billings for April 2013 is S$3.3341 billion with rollover balance of S$5.0213 billion, and S$20.4 million bad debts are written off in the month.

As of 31st May 2013, there are 7,697,048 of main cardholders and 1,519,657 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.69% or 52,861 compares to 7,644,187 cardholders as at 30th April 2013. Whereas the number of supplementary cardholders increased by 0.44% or 6,696 compares to 1,512,961 cardholders as at 30th April 2013. Total card billings for May 2013 is S$3.5712 billion with rollover balance of S$4.9934 billion, and S$22.6 million bad debts are written off in the month.

As of 30th June 2013, there are 7,796,154 of main cardholders and 1,529,554 of supplementary cardholders in Singapore. The number of main cardholders increased by 1.29% or 99,106 compares to 7,697,048 cardholders as at 31st May 2013. Whereas the number of supplementary cardholders increased by 0.65% or 9,897 compares to 1,519,657 cardholders as at 31st May 2013. Total card billings for June 2013 is S$3.4764 billion with rollover balance of S$5.2824 billion, and S$21.1 million bad debts are written off in the month. Charge-off rate for second quarter 2013 stood at 5.1%.

As of 31st July 2013, there are 7,848,602 of main cardholders and 1,542,899 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.67% or 52,448 compares to 7,796,154 cardholders as at 30th June 2013. Whereas the number of supplementary cardholders increased by 0.87% or 13,345 compares to 1,529,554 cardholders as at 30th June 2013. Total card billings for July 2013 is S$3.5453 billion with rollover balance of S$5.0802 billion, and S$21.3 million bad debts are written off in the month.

As of 31st August 2013, there are 7,882,252 of main cardholders and 1,545,885 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.43% or 33,650 compares to 7,848,602 cardholders as at 31st July 2013. Whereas the number of supplementary cardholders increased by 0.19% or 2,986 compares to 1,542,899 cardholders as at 31st July 2013. Total card billings for August 2013 is S$3.4163 billion with rollover balance of S$5.2250 billion, and S$19.2 million bad debts are written off in the month.

As of 30th September 2013, there are 7,919,683 of main cardholders and 1,548,154 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.47% or 37,431 compares to 7,882,252 cardholders as at 31st August 2013. Whereas the number of supplementary cardholders increased by 0.15% or 2,269 compares to 1,545,885 cardholders as at 31st August 2013. Total card billings for September 2013 is S$3.3936 billion with rollover balance of S$5.3159 billion, and S$19.8 million bad debts are written off in the month. Total card billings for the nine months ended 30th September 2013 amounted to S$30.4301 billion. Charge-off rate for third quarter 2013 stood at 4.7%.

As of 31st October 2013, there are 7,963,852 of main cardholders and 1,551,042 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.56% or 44,169 compares to 7,919,683 cardholders as at 30th September 2013. Whereas the number of supplementary cardholders increased by 0.19% or 2,888 compares to 1,548,154 cardholders as at 30th September 2013. Total card billings for October 2013 is S$3.5763 billion with rollover balance of S$5.2714 billion, and S$20.6 million bad debts are written off in the month.

As of 30th November 2013, there are 7,980,481 of main cardholders and 1,550,854 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.21% or 16,629 compares to 7,963,852 cardholders as at 31st October 2013. Whereas the number of supplementary cardholders decreased by 0.01% or 188 compares to 1,551,042 cardholders as at 31st October 2013. Total card billings for November 2013 is S$3.6137 billion with rollover balance of S$5.3787 billion, and S$21.6 million bad debts are written off in the month.

As of 31st December 2013, there are 7,984,608 of main cardholders and 1,573,936 of supplementary cardholders in Singapore. The number of main cardholders increased by 0.05% or 4,127 compares to 7,980,481 cardholders as at 30th November 2013. Whereas the number of supplementary cardholders increased by 1.49% or 23,082 compares to 1,550,854 cardholders as at 30th November 2013. Total card billings for December 2013 is S$3.9773 billion with rollover balance of S$5.3629 billion, and S$23.2 million bad debts are written off in the month. Charge-off rate for fourth quarter 2013 stood at 5.0%.


Credit cards in Singapore 2011-2012

In accordance to MAS credit and charge card statistics, there are 6,883,993 of main cardholders and 1,450,282 of supplementary cardholders in Singapore as at December 2011. As of December 2012, there are 7,843,765 of main cardholders and 1,502,591 of supplementary cardholders in Singapore.
This shown the number of main cardholders has jumped by 959,772 or 13.94% in 12 months, about 2% faster growth than a year ago. On the other hand, the supplementary cardholders has increased by 52,309 or 3.48% in the same period.

Total card billings for 2011 is S$35.23 billion with rollover balance of S$4.54 billion. Whereas the total card billings for 2012 is at S$38.42 billion, with rollover balance of S$4.99 billion. Overall, the total billing increased by 9.05%, and rollover balance increased by 9.91% compared to 13.25% a year ago.
Bad debts written off for Singapore credit and charge card in 2011 is S$186.7 million. In 2012 the bad debts written off has increased by an alarming 21.37% or S$39.9 million to S$226.6 million. Charge-off rate in year 2012 has increased to 4.8% from 4.4% in year 2011.


Credit cards in Singapore 2010-2011

In accordance to MAS credit and charge card statistics, there are 6,141,870 of main cardholders and 1,378,817 of supplementary cardholders in Singapore as at December 2010. As of December 2011, there are 6,883,993 of main cardholders and 1,450,282 of supplementary cardholders in Singapore.
This shown the number of main cardholders has jumped by 742,123 or 12.08% in 12 months, about 1% slower growth than a year ago. On the other hand, the supplementary cardholders has increased by 71,465 or 5.18% in the same period.

Total card billings for 2010 is S$30.94 billion with rollover balance of S$4.01 billion. Whereas the total card billings for 2011 is at S$35.23 billion, with rollover balance of S$4.54 billion. Overall, the total billing increased by 13.87%, and rollover balance increased by 13.25% compared to 8.11% a year ago.
Bad debts written off for Singapore credit and charge card in 2010 is S$181.9 million. In 2011 the bad debts written off has increased by 2.64% or S$4.8 million to S$186.7 million. Charge-off rate in year 2011 has decreased to 4.4% from 4.7% in year 2010.


Credit cards in Singapore 2009-2010

In accordance to MAS credit and charge card statistics, there are 5,418,553 of main cardholders and 1,284,064 of supplementary cardholders in Singapore as at December 2009. As of December 2010, there are 6,141,870 of main cardholders and 1,378,817 of supplementary cardholders in Singapore.
This shown the number of main cardholders has jumped by 723,317 or 13.35% in 12 months, a faster rate compared to previous few years. This is inline with the recovery of global economy. On the other hand, the supplementary cardholders has increased by 94,753 or 7.38% in the same period.
At the end of June 2011, there are 6,462,254 main cardholders, an increase of 320,384 or 5.22% in 6 months period compares to 6,141,870 in December 2010. Supplementary cardholders stood at 1,400,882 at the end of June 2011, an increase 22,065 or 1.6% compares to 6 months ago.
At the end of of October 2011, there are 6,765,772 main cardholders, an increase of 623,902 or 10.16% in 10 months period compares December 2010. Supplementary cardholders stood at 1,435,325 at the end of October 2011, an increase 56,508 or 4.1% compares to 10 months ago.

Total card billings for 2009 is S$26.03 billion with rollover balance of S$3.70 billion. Whereas the total card billings for 2010 is at S$30.94 billion, with rollover balance of S$4.0 billion. Overall, the total billing increased significantly by 18.86%, and rollover balance increased by 8.11%.
Bad debts written off for Singapore credit and charge card in 2009 is S$183.9 million. In 2010 the bad debts written off has decreased by 1.09% or S$2.0 million to S$181.9 million. Charge-off rate in year 2010 decreased to 4.6% from 5.2% in year 2009.


Credit cards in Singapore 2008-2009

In accordance to MAS credit and charge card statistics, there are 5,055,387 of main cardholders and 1,222,396 of supplementary cardholders in Singapore as at December 2008. As of December 2009, there are 5,418,553 of main cardholders and 1,284,064 of supplementary cardholders in Singapore.
This shown the number of main cardholders has jumped by 363,166 or 7.18% in 12 months, a slower rate compared to previous few years. This is expected due to global financial crisis where card issuers are more prudent and many old accounts are closed. On the other hand, the supplementary cardholders has increased by 61,668 or 5.04% in the same period. As of October 2010, there are 6,022,786 main cardholders and 1,369,820 supplementary cardholders.

Total card billings for 2008 is S$25.66 billion with rollover balance of S$3.38 billion. Whereas the total card billings for 2009 is at S$26.03 billion, with rollover balance of S$3.70 billion. Overall, the total billing increased marginally by 1.44%, and rollover balance increased by 9.47%.
Bad debts written off for Singapore credit and charge card in 2008 is S$115.4 million. In 2009 the bad debts written off increased by a whopping 59.36% or S$68.5 million to S$183.9 million. This is the effect of global financial crisis which hit hard on the employment sector and the economy in 2009.
Charge-off rate in year 2009 has increased to 5.2% from 3.6% in year 2008.


Credit cards in Singapore 2007-2008

In accordance to MAS credit and charge card statistics, there are 4,471,517 of main cardholders and 1,174,595 of supplementary cardholders in Singapore as at December 2007.
As of December 2008, there are 5,055,387 of main cardholders and 1,222,396 of supplementary cardholders in Singapore.
This shown the number of main cardholders has jumped by 584,870 or 13.06% in 12 months, while the supplementary cardholders has increased by 47,801 or 4.07% in the same period.

Total card billings for 2007 is S$22.64 billion with rollover balance of S$2.98 billion. Whereas the total card billings for 2008 is at S$25.66 billion, with rollover balance of S$3.38 billion. Overall, the total billing increased by 13.34%, and rollover balance increased by 13.42%.
Bad debts written off for Singapore credit and charge card in 2007 is S$108.9 million. In 2008 the bad debts written off increased by 5.97% to S$115.4 million. Charge-off rate in year 2008 has decreased to 3.6% from 3.9% in year 2007. Charge-off rate for the year is defined as the bad debts written off during the year divided by the average rollover balance for the same year.

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How to choose the right credit card
  • First, it is all about your lifestyle, what you do frequently and repeatedly, out of necessity or habit. By choosing the credit card that rewards your lifestyle, you're always on the right track. If you shop for grocery, filling at petrol station and dining out frequently, it will good to get a rewards or cash back credit card. If you travel frequently, a travel rewards or frequent flyer credit card could well be the answer for you. Always make a habit to read the fine print on the rewards given.
  • Secondly, always look out for the credit card fees or charges. Preferably, you should get a no annual fee credit card that fits your lifestyle. If you decide to go for a credit card that charge an annual fee, make sure the benefits and rewards exceeded the fee you pay yearly.
  • Finally, grab a credit card that offer you a sign-up gift, if available. But make sure the credit card fit your lifestyle with an acceptable fee. Do not sign-up a credit card just because of the attractive sign-up gift! This sign-up bonus normally comes with terms and conditions, make sure you read them carefully.
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