MUNMUN NATH
The Credit Card Association of the Philippines (CCAP), which is made up of about 14 largest banks in the country, reported in 2015 that there were about 7 million credit cards in circulation and more than 3 million cardholders. Two years later, it is certain that both these numbers would have increased manifold times. It is also likely that the average number of credit cards a person holds continues to be two or more. We are no different from other countries who exhibit similar behavior. Generally, most countries have a credit card density of one to two cards per capita, an exception being the US, where it tends to be more than three cards per person.