Rising fuel costs due to Middle East conflict may lead Filipinos to overuse credit cards, causing a 'critical' debt burden.

Rising fuel costs linked to the Middle East conflict could push more Filipinos deeper into debt, analysts have warned, with one regional study describing the Philippines’ credit card burden reaching a “critical” risk level. Although credit card ownership in the Philippines remains relatively low, data indicates that cardholders appear to be using them far more intensively as living costs outpace income growth. Credit card receivables in the Philippines have been growing consistently at more than...