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?

Negligent

use

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of

credit

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cards can cause debts. Thereby, I agree that banks should check the financial strength and the repaying capacity of a person before offering them electronic

card

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facility.

This

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essay will discuss how an inappropriate usage of plastic

card

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will put an individual at a financial risk. Irresponsible

use

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of

credit

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cards can push anyone into the

debt

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trap. Still, the demand for

credit

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cards continues to increase. People consider

credit

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cards as a means to improve lifestyles. They borrow more money than they should as the

credit

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cards are easy to

use

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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

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cards if they are not completely satisfied with the finances of the

customer

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. They always check the

credit

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history and financial situation of the

customer

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and

also

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explain the burdensome consequences that can happen to the

customer

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if they

use

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the

card

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irresponsibly. Still, many people

use

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the

card

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carelessly and get into permanent

debt

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. So it is unfair to blame the bank alone for the

credit

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card

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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

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. In most cases

such

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situations cannot be predicted and are not in the control of either the bank or the

customer

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. To conclude, it is important for the banks to verify the

customer

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’s ability to pay back debts before giving them

credit

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cards. Customers

also

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have a responsibility to control their spending habits to protect themselves from

debt

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.