MAKING HARDER REQUIREMENT FOR CREDIT CARD USER IN LENDING HUGE AMOUNT OF MONEY

Recently, some poeple have been in trapped while controlling their money, in credit card, a sophisticated purchasing equipment offered by banks which  enable the user to purchase what they shop by making debit.In fact, not fewer of them  having debit outweighted the amount of money that they save on the bank.This matter lead them in  returning issue.Tackling this problem , in my point of view, that is true by making harder requirements for customers to borrow massive amount of money would be able to solve repayment problem.However, it would lead some drawbacks.

First and foremost, bank or the creadit card providers are threaten to loss their customers.For some customers who don not really want to  hardly stake dealing with heavy requirement in borrowing the money, they will look for other alternative which enable them to get the money. They may go to the pawn shop to pawn their possesions , for instance.

Furthermore, the drawback would be undergone by the customers.When they are not able to make debit by their creadit card, they might also go to debt collector.They would be charged by much more higher interest.As a result,  the people are vulnerable to be a victim  financial loss  issues.

Speaking to my self, in rectifying repayment issues due to the overused of debit in credit card, the bank might limit the amount of money that would be lended based on customer property investemt.In fact, whenver the customer could not afford to return the money, the bank can seizure it.

Taking everything into consideration, by having more stricked requirement for lending a massive amount of money, either banks or customers would face disadvantage by doing so.The appropriate way to tackle this problem is make a precence of limitation in lending based on cutormer property investment.