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?

In the contemporary era, because of crossing their financial limits, most people are struggling to make out credit card bills. Banks should come up with new protocols which allows them to take control of releasing the credit card for those who are incapable. And I totally agree with the statement. Two arguments which contributes my opinion are explained in the below along with the conclusion. To begin with, we are living in generation where everything is materialistic. We have assumed that, respect, love and more importantly image in the society comes with money-oriented things we possess. Subsequently, irrespective of our financial stability, we tend to buy expensive items which are least important for us whereas more important for others. For instance, last year, we brought very expensive furniture only to impress relatives. In the nutshell, we spend most of the money in building high class image in society without considering our financial stability; consequently, we become part of irresponsible customers group. Regarding issuing the credit cards, banks should come up with some strict rules and regulation which allows them to check person’s financial capabilities. By granting such things, banks can have a complete control over distributing the credit cards and they can only release the credit card who is capable of. All in all, banks should have protocols to take control over distributing the credit cards. It can be concluded that, we as human beings, it is most important that, we should act like a responsible customer for the banks and control all the expenses which are of unnecessary. At the same time, banks should also have some decisive criteria’s before releasing credit cards to customers.