The reason that most people are in debt is the overuse as well as irresponsible use of credit cards. Banks ought to do a background check and only issue credit cards to individuals who have the ability to pay back their debts. What is your opinion?
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I agree that overindulgence of the plastic money has been one of the major reasons why people tend to accumulate liability. Banks should resolve to sanction
credit
cards only after ascertaining an individual’s financial capability and his history of settling liabilities. My essay would discuss the reasons behind people’s overuse of credit
cards and steps to be taken by the Banks to regulate the same.
Firstly
, individuals tend to overspend via credit
cards because it doesn’t impact their bank balance. Psychologically, one examines his bank balance for his liquidity, but fails to consider his mounting bills. Secondly
, people assume that future profits would pay-off
their current bills. Future promises of extra income make people go overboard while using plastic money. The the final payment of a debt
payoff
credit
period feature plays a major a role here. For example
, I spend Rs.10,000/- today, assuming I get bonus before my due date of payment which is 45 days later.
Meanwhile, I believe certain checks by the banks before issuing cards would establish user’s capability. Firstly
, they have to scrutinize his financial history. If he has a record of being a defaulter, it would be an indication of his tendency to dodge dues and his pecuniary instability. Secondly
, the Banks should investigate the source of income. In the absence of steady flow, it would establish his inability to settle bills. For example
, if the bank learns that the only source of income is from winning lottery, his future ability to repay dues becomes debatable.
In conclusion, certain precautionary measures undertaken by banks would surely control the dangerous tendency using credit
cards indiscriminately. Also
, individuals should be educated about the drawbacks of plastic money before procuring it.Submitted by reshmamarathi on
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Use cohesive linking words accurately and appropriately
Linking words are very important in your essay.
To score effectively on your IELTS exam, you should make an effort to implement short concise sentences coupled with linking words.
Almost every sentence in your essay should have a linking word of some sort.
In fact, the only sentences that can omit linking words are your background sentence and thesis.
Linking word examples:
- firstly
- secondly
- thirdly
- in additional
- moreover
- also
- for example
- for instance
- therefore
- however
- although
- even though
- despite