The rollover ratio, which refers to credit card balances outstanding for 30 days or longer as a percentage of total credit card balances, was 15.5% in 2010, after dipping to a historical low of 14.5% in 2008. Data from Credit Bureau Singapore show that the share of “revolvers” has remained broadly stable. However, the share of “frequent revolvers” has risen slightly in recent months. Young adults aged 21-29 have contributed to this increase. As of November 2010, they represent 39% of new credit cardholders who are frequent revolvers. Young adults also account for a rising share of credit card defaulters, increasing from 9.4% or 123 defaulters in January 2008 to 13.4% or 233 defaulters in November 2010. This bears close monitoring. This is indeed a worrying trend. The outrageous interest rates charged on credit card balances and the effect of compounding is a definite route to ......