Despite a general improvement in Filipinos’ perceptions and knowledge of credit compared to last year, significant efforts are still required to improve these further, especially among Filipinos living outside the Greater Capital Region (GCR).
These insights come from the second annual Credit Perception Index (CPI) study conducted by TransUnion Philippines, a global information and insights company and the Philippines’ first comprehensive private credit reference agency.
Launched in 2023, the CPI study aims to assess Filipinos’ credit perceptions based on two factors: their current attitudes towards credit and how likely their views can change in the future.
While the CPI score of the general Filipino population grew four points to reach 69 in 2024, the score for Filipinos living within the GCR stands higher at 77, compared to only 58 of those outside the region.
The CPI score of Filipinos living in urbanized areas stands at 79 or 22 points higher than suburban dwellers (with a score of 57) , and 31 points higher than those living in rural (at 48) locations.
Notable gaps were also observed particularly in credit concept knowledge, product knowledge, trust and favorability among the three respondent groups.
