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Credit card debt in PH surged in Q1 due to revenge spending, inflation
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BSP: Corporate, household debt levels need closer monitoring
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Rising credit card usage may lead to spike in household debt
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"REVENGE spending” has increased in the first three months of the year by 47 percent to P470 billion, data from the Credit Card Association of the Philippines (CCAP) revealed. In a statement issued on May 15, the CCAP said its data showed gross billings jumped 47 percent to P410 billion…
Post-lockdown revenge spending among Filipinos continued to fuel the domestic economy in the first quarter, as evidenced by the surge in credit card use, according to the Credit Card Association of the Philippines.