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Credit card spending on the rise in S’pore, but debts remain manageable
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At UOB, the top spending categories were food and beverage; travel including airline and overseas lodging expenditure; and insurance.
PHOTO: ST FILE
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SINGAPORE – Consumers are spending more on their credit cards, and this trend is set to continue in 2023, according to market players.
Market players said the situation is under control so far. Default rates are low and there are measures in place to prevent consumers from falling deep into debt.
