Veda, the country's largest credit bureau, says a jump in applications for mortgages, personal loans and hire purchases are a sign demand for credit is rebounding.
Despite a recent global survey suggesting uncertainty surrounding the prospects for the global economy, Veda says its own data shows people are increasingly confident about their economic situation.
Managing director John Roberts said that overall, credit activity increased by 8% in December compared with the same period a year earlier.
"There's no doubt about it that consumer sentiment and consumer confidence in the economy is now translating to a pick-up in consumer spending, which in itself is translating to people actually getting back into the credit market."
Mr Roberts said the figures are strong evidence of a pick-up in the economy.
"We feel that what's happening is that a lot of the global surveys come into this country, they look at some macro figures, they do a few random phone calls to people to try and get a gauge on consumer sentiment - but you need to actually look at what's happening in market on the ground."
Mr Roberts said Veda sees about 24,000 credit inquiries per day through the bureau.
He said more people are opting for debit cards rather than high-interest credit cards, and they're using personal loans or hire purchase to buy cars and appliances.