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Wif so many dead bodies found lately, RadX muz be in the 42% growth segment. -------------------------------------------------------------------------------------------------------------------------- SINGAPORE: Latest figures from Credit Bureau Singapore (CBS) reveal that the high-end credit card segment has weathered economic downturn to expand by a third in the last two years. It's one of the fastest growing segments in the Singapore credit card market today. CBS figures show that the number of affluent cardholders in Singapore has expanded by 30 per cent from 2008 to 2010, and by 27 per cent from 2009 to 2010. In 2010, there were more than 23,000 affluent cardholders compared to just some 18,000 in 2009. These elite cardholders make up about 2 per cent of the credit card population. CBS used two criteria to define affluent cardholders: a total monthly credit card balance of S$10,000 or more, at least three times in the year; and full settlement of the balance immediately or by the next payment due date. CBS statistics also show that the wealthier the cardholder, the more rapid the growth of that cardholder segment. For instance, the big spenders with an average monthly card spend of more than S$40,000 grew by 44 per cent in 2010. Within the group with an average monthly balance of more than S$40,000, the super-affluent pie - cardholders who spent more than S$50,000 - shot up by 42 per cent, while the high spenders with a balance of S$44,000-50,000 grew by 48 per cent. CBS' study also threw light on the profile of these affluent cardholders: They are predominantly male, with females making up only 20 per cent of the elite group. The average age of an affluent cardholder is 46 years old. At 3.1, the affluent cardholder has a higher number of average banking relationships than the general population, which has 2.8 average credit card banking relationships. Mirroring the trend for mass market credit cardholders, affluent female cardholders are also less loyal than their male counterparts. They hold 3.7 banking relationships compared to the latter's 3. Responding to the findings, The credit bureau's executive director, William Lim, said the rise of the affluent cardholder segment is a result of the rapid growth of wealthy individuals in Singapore and the region in the last two years. It can also be attributed to banks pulling out all stops to court and serve this elite group with more creative credit card programmes and personalised services. The affluent and emerging affluent group thus represents strong growth potential for card issuers. - CNA/cc