Credit Bureau (Singapore) Pte Ltd

Every month, information on over 3.2 million loan accounts is loaded to the Credit Bureau database. Credit Pulse is a summary of statistical data derived from this information and enables a tracking of general trends in the Singapore financial market.

Interesting Findings:
- Youth today & their credit card spending patterns & habits
Number of New Credit Card Consumers
- Age Group 21-29 depicted 39% over the last 12 months
  * Increased by 39%, this constitutes 8% of the total credit card
  base of consumers
Attributing factors that results in spike of number of credit card consumers from Age Group 21-29
- A credit card may offer benefits such as discounts & promotions which another credit card does not offer.
- Additional privileges such as frequent-use rewards. For example, rewards points or mileage.
- Acts as a status symbol among individuals within this particular Age Group of consumers
- Ease of payment which facilitates utilization of credit cards
- Due to new entrants to the workforce
Number of Credit Card Revolvers
* Revolver Status: credit cardholders who do not pay off
the full balance outstanding at the end of each billing
cycle.
- Age Group 21-29 depicted 40% over the last 12 months
  * Increased by 40%, this constitutes 10% of the total rollover
  balance
Credit Card Billings
- Age Group 21-29 depicted 65% over the last 12 months
  * Increased by 65%, this constitutes 13% of total credit card
  billings
Attributing factors that results in spike of credit card billings & rollover balances from Age Group 21-29
- Specific partnerships with retailers to offer attractive promotional discounts
- Incentives such as interest free installment plans
- Waiver of annual subscription fees with minimum spending
- Ease of payment which facilitates utilization of credit cards