THE REASON THAT MOST INDIVIDUALS ARE IN DEBITS 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.

Some people are of the opinion that having debt is becoming way more common

due to

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the fact that banks do not check on their clients and give

credit

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cards to irresponsible users. I completely disagree with

this

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idea. The only argument for the above-written notion is that

credit

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cards are an incredibly easy way to spend money you do not have but

this

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borrowed money must be paid back eventually and credits have existed for a really long time. So,

credit

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cards are not inventing anything new, they are just a modern tool for something that has already existed.

Also

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, irresponsible people will always find resources to spend no matter what. Another point is that banks are very conscious of who becomes their client and what they give to them.

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why

credit

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scores and interviews for credits exist. There is no doubt that today individuals are in debt more than ever. It is my belief that

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is because of the economic crisis we have seen in the past two decades.

For

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During

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this

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period of instability, inflation has made life in general more expensive.

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, house prices have gone up twenty times,

while

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the average salary has grown only six times. In my opinion,

due to

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this

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rise in prices of almost everything, credits are more needed and

therefore

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have become so used. In conclusion, it is not the banks’ fault that people take on

credit

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. It is the economic state of the world we live in and the fact that life today is more expensive than it has ever been.