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?

During the past decade or two, there has been a rapid increase in the usage of

credit

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cards

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.

However

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, unfortunately, not all the card owners are clearing the

debt

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.

This

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essay completely agrees with the statement that

banks

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need to do stringent checks before issuing the

credit

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cards

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.

This

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essay asserts the opinion stated using two reasons

first

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, customer spending money lavishly, and

second

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,

banks

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not doing relevant background checks before issuing the

cards

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.

To begin

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with, cardholders spending money extravagantly could always be a threat to pay post-paid card bills.

For example

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, if an employee buys a very costly car than a normal car, in a desire to lead life comfortably that could be a possible reason to not pay the

debt

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in time. Here, it is understood that employee in rush to lead life conveniently, is trying to spend recklessly by buying a car whose price is exorbitant. If people think pragmatically, these things can be avoided and there will be fewer

debts

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. Moving on to the

second

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reason where user

debts

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can be reduced is, by doing strict and relevant checks of user-profiles for whom the

cards

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are to be issued.

For instance

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,

banks

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usually offer

credit

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cards

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based on the employee's payslip or salary, but the risk here is if the person loses his job the

debt

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remains in the backlog. If

banks

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form more stringent rules like agreeing to some legal conditions in case

debt

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is not paid, people will become more serious and tend to pay bills. To conclude, the excessive usage of

credit

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cards

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leads to

debts

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in

banks

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.

Therefore

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, it is obvious that there is a need to clear these

debts

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. Upon thorough analysis on

this

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subject, it can be said that

this

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scenario can be avoided by customers spending frugally and

banks

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inspecting user-profiles and establishing rigid rules.