The reason that most individuals are in debit is due to the overuse as well as 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 debits. To what extent do you agree with this?
In
this
modern word, almost all the processes has Linking Words
gone vir
tual, payment and selling are not the exception. Suggestion
have gone
Cred
Use synonyms
it
Suggestion
A credit card
The credit card
card
which is well-known as one of the plastic money gives purchasing power to the person even if he or she does not have enough cash. Use synonyms
This
has made peopLinking Words
le extravagant and
put them in debtAccept comma addition
people, extravagant
which cau
ses dangerous consequences for both people and the Accept comma addition
debt, which
card
issuer. To resolve Use synonyms
this
problem, the bank should check the history of the applicant’s Linking Words
credit
records before issuing Use synonyms
this
facility.
Linking Words
To begin
with, as people could purchase without thinking the price and the income, they become imprudent and would purchase the things which they might not need. Linking Words
This
tendency of the consumer increases liabilities and makeLinking Words
the
m bankrupt. Suggestion
makes
Also
, the citizen are not conscious about Linking Words
credit
limit and due date of the payment. Use synonyms
This
means they will have to pay heftLinking Words
y premium of
the interest which is more than any loan like homeSuggestion
a hefty premium
hefty premiums
loan or
vehicle loan. As they end up without the money, they might not be able to compensate. Suggestion
a home loan
home loans
Thus
, Linking Words
credit
Use synonyms
card
certainly brings a failure if not used judiciously.
Use synonyms
This
failure affects the economy of the country as a financial institute and its stakeholders are harmed economically. Owing to the customer under highLinking Words
ly deb
it who does not have enough liquid to pay back, the bank would have to use external forcSuggestion
high
es like deb
t collection agency which may use wronAccept comma addition
forces, like
g ways for
Suggestion
the wrong ways
such
repayments. Linking Words
This
could make the negative publicity for the organization and its stock price may fall. Linking Words
On the other hand
, the ruined patriot Linking Words
also
suffers financially and mentally. Linking Words
For instance
, the one who cannot repay may lose its property and capiLinking Words
tal which dis
turbs him economically and psychologically. Under Accept comma addition
capital, which
such
pressures, person may attempt to suicide. Linking Words
Thus
, these disastrous consequences insist a background check by the financial agencies before providing a Linking Words
credit
Use synonyms
card
.
To conclude, I strongly believe there should be a stringent rule by the company to provide the Use synonyms
credit
limit below the salary. Use synonyms
Such
rules ensure win-win situation for both the corporation and customer of the Linking Words
credit
Use synonyms
card
Use synonyms
.
Suggestion
cards
Submitted by sumayaothman96 on
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