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?

I too believe that over and reckless use of credit card may keep them in debt and it is the responsibility of the banks to cross check each individual before giving credit card and they need to give only to those people how is capable of paying back. This essay will illustrate the role of banks and credit card holders. Firstly, people think that having a credit card is privilege because, it is given to those people, who have sufficient bank balance and are earning handsome amount. These days, the standard of living has increased day by day, where people are not able to fulfil their dreams in a limited income. For instance, a common man who cannot afford a car with his average salary, would be tempted to use credit card if available, which will keep him in a debt. Moreover, expectation of life is rising, which leads to overuse of credit card and that make people bankrupt. Secondly, banks need to take the responsibility of cross checking their customers before issuing them credit cards. Even after giving credit card, it will more beneficial if they monitor the bank balance of customers and inform them, when they overuse it. For example, banks need to ask a person one year’s payslips, for the background verification and confirmation of their job. It is good if they give only to those people who a have proper income and a good financial status. In conclusion, bank should notice that people are changing their lifestyle day by day, which leads to reckless use of credit card. It is the responsibility of banks to over check the person before giving them credit card.