Not one big spree: Why more people in their 30s, 40s are seeking help for credit card debt in S’pore
Singaporeans in their 30s and 40s increasingly seek credit-card debt help due to lifestyle spending and income shocks; counselling cases hit a three-year high, though overall risks remain manageable.
Chor Khieng Yuit
- People in their 30s and 40s made up the biggest groups seeking help for unsecured debt, driven mainly by lifestyle spending and income shocks.
- Credit Counselling Singapore said cases rose to a three-year high of 814 in Q2 2026, while MAS data showed rollover balances climbed to $9.64 billion.
- Risks are still seen as manageable because delinquency and charge-off rates are low, but stress pockets remain.
SINGAPORE – People in their 30s and 40s made up the two largest age groups seeking help for credit card and other unsecured debts between 2021 and 2025, according to data from Credit Counselling Singapore (CCS) for The Straits Times.
Their debt issues mainly stem from discretionary spending on lifestyle, as well as income shocks, such as a sudden drop in household income due to retrenchment or pay cuts, said the non-profit social service agency.
source: The Straits Times https://www.straitstimes.com/business/not-one-big-spree-why-more-people-in-their-30s-40s-are-seeking-help-for-credit-card-debt-in-spore?ref=top-stories
