Only 3 percent of adult Filipinos own credit cards, placing the Philippines among the lowest in ASEAN, according to Visa data.
The company said limited credit card access has led many Filipinos to rely on informal lending channels that do not build formal credit histories.
Despite the low adoption rate, the country is experiencing a “credit takeoff” driven by rising incomes, smartphone use, digital onboarding, and competition among banks and fintech firms.
Visa said increasing credit card ownership to 10 percent of adults could bring millions of Filipinos into the formal financial system and generate billions in new credit spending.
However, it stressed the need for stronger safeguards, wider merchant acceptance, and responsible lending to ensure credit expansion benefits consumers.
Source: PhilNews24 | July 16, 2026
PHILIPPINES RANKS AMONG ASEAN’S LOWEST IN CREDIT CARD USE — VISA
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