Yue, P. &. K. a. G. &. Y. Z. &. Z. H. (2022).
The rise of digital finance: Financial inclusion or debt
trap? ideas.repec.org.
https://ideas.repec.org/a/eee/finlet/v47y2022ipas1544612321005432.html
The broadened access to credit markets increases household consumption by changing the
marginal propensity to consume. However, the easier access to credit markets also increases
the risk of households falling into a debt trap.
TransUnion Philippines. (2024, July 10). Philippines’ robust credit card market poised for further
growth driven by greater financial inclusion. Philippines’ Robust Credit Card Market Poised for
Further Growth Driven by Greater Financial Inclusion.
https://newsroom.transunion.ph/philippines-robust-credit-card-market-poised-for-further-growth-
driven-by-greater-financial-inclusion/
Credit Card Association of the Philippines (CCAP) was consistent with the trends observed by
TransUnion. Its data showed credit card spending increased by 39% to reach PHP 853 billion in
the first half of 2023 – a jump from the 29% increase in the previous year1. The trends in card
originations, total volume, penetration, and spending all indicate a promising growth trajectory
for the credit card market in the country.
WVU research shows credit card behaviors are lifelong, whether users carry debt or pay
balances monthly. (2025, March 17). WVU Today | West Virginia University.
https://wvutoday.wvu.edu/stories/2025/03/17/wvu-research-shows-credit-card-behaviors-are-lifel
ong-whether-users-carry-debt-or-pay-balances-monthly
Of the roughly 80% of U.S. adults with a credit card, around half use their cards to make regular
purchases, paying them off monthly without interest, Schuh said. The other half use their cards
to finance purchases over time. They revolve their credit card balances, often for many years.
These “revolvers” pay interest rates that averaged around 15% between 2001 and 2019 but
have now jumped to around 22%.
Boston, F. R. B. O. (2023, October 19). Credit Card Spending and Borrowing since the Start of
the COVID-19 Pandemic. Federal Reserve Bank of Boston.
https://www.bostonfed.org/publications/current-policy-perspectives/2023/credit-card-spending-a
nd-borrowing-since-the-start-of-the-covid-19-pandemic.aspx
Consumers improved their financial health early during the COVID-19 pandemic, but credit card
revolving and delinquencies have been rising since 2021, in terms of both the share of accounts
and average balances. Financial stress is especially high among lower-income cardholders,
whose credit card revolving and delinquencies have risen faster than those of other income
cohorts.
TransUnion. (2024, December 14). TransUnion 2025 Consumer Credit forecast points to
moderating credit card balance growth and slower delinquency gains. TransUnion 2025
Consumer Credit Forecast Points to Moderating Credit Card Balance Growth and Slower
Delinquency Gains. https://newsroom.transunion.com/2025-Consumer-Credit-Forecast/
“We’ve observed widespread growth in credit cards in recent years for myriad reasons. Notably,
credit card issuers felt comfortable taking on more risk, while consumer appetite for credit rose
in tandem with higher costs for everyday goods and services. As inflation pressures dissipate
and interest rates continue their slow decline, we believe there will also be a slowing in both
credit card balance growth and serious delinquency rates.”- Paul Siegfried, Senior Vice
President And Card And Banking Business Lead At Transunion
Dhinakaran, M. S. D. U. U. D. D. P. (2022, May 7). A STUDY ON UTILIZATION AND
CONVENIENT OF CREDIT CARD. https://journalppw.com/index.php/jpsp/article/view/4335
A credit card is a small plastic card issued to users as a machine of price. It lets in its holder to
shop for items and services primarily based on the holder's promise to pay for those goods and
services. The provider of the card creates a revolving account and grants a line of credit score
to the patron (or the user) from which the consumer can borrow money for payment to a service
provider or as cash improve to the person.
Trinh, H. N., Tran, H. H., & Vuong, D. H. Q. (2020). Determinants of consumers’ intention to use
credit card: a perspective of multifaceted perceived risk. Asian Journal of Economics and
Banking, 4(3), 105–120. https://doi.org/10.1108/ajeb-06-2020-0018
Credit cards, a combination of payment card and personal consumption credit, are widely used
in around the world. Starting with a relationship between vendors and consumers, as well as a
need to buy first and pay later. Consequently, many international credit card organizations have
been established and operated independently around the world with six famous brands
including American Express, Diners Club, Japan credit bureau, Visa, MasterCard and Chinese
union pay. Banks join these institutions and are licensed to issue and acquire credit cards. To
expand the credit card market segment, banks are constantly issuing cards to new customers
and encouraging existing customers using them in daily spending.
https://www.nerdwallet.com/article/credit-cards/household-debt-study-2019
Some households are more likely to carry credit card balances than others. This year’s report
looked at the costs of first-time parenthood and found that parents of children younger than 18
are more likely to carry credit card balances than are Americans with adult children or no
children, according to a survey of 2,076 U.S. adults, commissioned by NerdWallet and
conducted by The Harris Poll. Our survey also found that many Americans would have a hard
time avoiding debt if they became first-time parents now.
https://www.nerdwallet.com/article/credit-cards/credit-card-data/2024-american-household-credit
-card-debt-study
2024 was a year that looked good and felt bad, financially, for many. According to NerdWallet’s
annual household debt analysis, revolving credit card debt is up year-over-year, but only slightly,
and the gap between cost of living and income growth is narrowing, pre-pandemic to now.
Theoretically, this should lead to more positive feelings, as it’s an improvement on the past few
years. But emerging from an election season where the economy was top of mind and ballot, it’s
clear that the broader economy still doesn’t feel right at a household level.
NerdWallet’s annual analysis of household debt finds that revolving credit card debt is up just
1.5% compared to 2023. On average, a household with revolving credit card debt owes
$10,563.
https://www.bankrate.com/credit-cards/news/credit-card-review-survey-2019/
Similarly, the majority of cardholders feel about the same (44 percent) or less stressed (33
percent) about their credit card debt, while only 23 are more stressed.
Millennials are most likely to be more stressed now than they were at the beginning of the year.
Thirty-one percent of the cohort reports feeling more stressed about their credit card debt today,
while just 16 percent of baby boomers and 26 percent of Gen X say the same.
Among just those cardholders who have credit card debt, 36 percent feel about the same
amount of stress as they did at the beginning of the year, 33 percent feel less stressed and 31
percent feel more stressed.
Boston, F. R. B. O. (2023, October 19). Credit Card Spending and Borrowing since the
Start of the COVID-19 Pandemic. Federal Reserve Bank of Boston.
https://www.bostonfed.org/publications/current-policy-perspectives/2023/credit-ca
rd-spending-and-borrowing-since-the-start-of-the-covid-19-pandemic.aspx
Dhinakaran, M. S. D. U. U. D. D. P. (2022, May 7). A STUDY ON UTILIZATION AND
CONVENIENT OF CREDIT CARD.
https://journalppw.com/index.php/jpsp/article/view/4335
TransUnion. (2024, December 14). TransUnion 2025 Consumer Credit forecast points
to moderating credit card balance growth and slower delinquency gains.
TransUnion 2025 Consumer Credit Forecast Points to Moderating Credit Card
Balance Growth and Slower Delinquency Gains.
https://newsroom.transunion.com/2025-Consumer-Credit-Forecast/
TransUnion Philippines. (2024, July 10). Philippines’ robust credit card market poised
for further growth driven by greater financial inclusion. Philippines’ Robust Credit
Card Market Poised for Further Growth Driven by Greater Financial Inclusion.
https://newsroom.transunion.ph/philippines-robust-credit-card-market-poised-for-f
urther-growth-driven-by-greater-financial-inclusion/
Trinh, H. N., Tran, H. H., & Vuong, D. H. Q. (2020). Determinants of consumers’
intention to use credit card: a perspective of multifaceted perceived risk. Asian
Journal of Economics and Banking, 4(3), 105–120.
https://doi.org/10.1108/ajeb-06-2020-0018
WVU research shows credit card behaviors are lifelong, whether users carry debt or pay
balances monthly. (2025, March 17). WVU Today | West Virginia University.
https://wvutoday.wvu.edu/stories/2025/03/17/wvu-research-shows-credit-card-be
haviors-are-lifelong-whether-users-carry-debt-or-pay-balances-monthly
Yue, P. &. K. a. G. &. Y. Z. &. Z. H. (2022). The rise of digital finance: Financial inclusion
or debt trap? ideas.repec.org.
https://ideas.repec.org/a/eee/finlet/v47y2022ipas1544612321005432.html
