The reason that most individuals are in debt is due to the overuse and irresponsible use of credit cards. Banks should not issue credit cards unless they are completely sure of an individual’s ability to pay back their debts. To what extent do you agree with this?

Careless and irresponsible
use
of
credit
cards
push
many people into
debt
. Some people,
therefore
, argue that banks should ensure the
customer
’s ability to pay off their debts before issuing
credit
cards
to
them. I agree with
this
view. While I insist that banks should check the
credit
history of a person before offering them
credit
cards, in my opinion,
this
may not always help because the financial stability of a person can change any time. So there is no way banks can fully verify the repayment capacity of the
customer
. Irresponsible
use
of
credit
cards can push anyone into the
debt
trap. Still, the demand for
credit
cards continues to increase. People consider
credit
cards as a means to improve lifestyles. They borrow more money than they should as the
credit
cards are easy to
use
and readily acceptable in so many places. Unfortunately, some people cannot pay back the debts and get into huge financial trouble. Banks usually won’t issue
credit
cards if they are not completely satisfied with the finances of the
customer
. They always check the
credit
history and financial situation of the
customer
and
also
explain the burdensome consequences that can happen to the
customer
if they
use
the card irresponsibly. Still, many people
use
the card carelessly and get into permanent
debt
. So it is unfair to blame the bank alone for the
credit
card holder’s mistakes. Another factor that we need to acknowledge is the unpredictable nature of a person’s financial situation. People can fall ill or lose their job. Both of these are situations that can considerably affect a person’s ability to repay his
debt
. In most cases
such
situations cannot be predicted and are not in the control of either the bank or the
customer
. To conclude, it is important for the banks to verify the
customer
’s ability to pay back debts before giving them
credit
cards. Customers
also
have a responsibility to control their spending habits to protect themselves from
debt
.
Submitted by Sometimes people think nowadays the media (TV, newspaper) are less concerned about the accuracy of news than in the past, and the incorrect information may cause more problem to the public? on

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