Filipinos are placing greater trust in credit products, but persistent worries over fraud and high borrowing costs suggest that today’s optimism may prove fragile, the 2025 Credit Perception Index released on Tuesday by TransUnion showed.
The index scored the Philippines at 73 out of 100, little changed from 74 last year, underscoring that progress remains tentative. While trust in credit products rose by 6 points, receptivity to learning more about borrowing fell by nine points — a sign that enthusiasm is already tempered by hesitation.
“Filipinos are eager to learn more about financial options that are relevant, accessible and suited to their needs,” TransUnion President and CEO Peter Faulhaber said. But he added that deeper literacy must translate into familiarity, trust, and responsible use for confidence to hold.
For now, the barriers remain stubborn. Interest rates continue to top concerns across all groups surveyed: 59 percent of the general population, 52 percent of the unbanked, and 61 percent of FinTech users cited borrowing costs as a deterrent.
Almost as many — more than half of the general population and FinTech users — flagged fraud and scams as an equally pressing fear.
That unease cuts across all groups. Even as unbanked Filipinos reported higher trust and awareness — narrowing the gap with the general population — their knowledge of credit remains shallow, with just 56 percent saying they understand their options.
For many, the first step into formal finance is still tentative, fragile, and easily shaken by security risks.
FinTech users posted the highest CPI score at 74, powered by the surge of e-wallet adoption among younger Filipinos.
But this very shift toward digital finance exposes them to the very scams and fraud they most fear, raising doubts about whether confidence can keep pace with risk.
Faulhaber pointed to the momentum toward inclusion as promising. But he also warned that without addressing fraud and security, gains may prove fleeting.
“Strong performance of FinTech users and the narrowing gap between the unbanked and the general population reflect encouraging momentum,” he said. “But addressing persistent barriers, especially fraud and security concerns, will be key to empowering more Filipinos to engage confidently with credit.”
Trust may be rising, Faulhaber said, but added, without tackling fraud and security risks, the foundations of credit remain fragile — and today’s optimism could easily unravel tomorrow.
