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Word Count: 423
Credit cards has been in widespread use in last decades However beside many benefits drawback is that cardholders can overspend their imcome then get into debt Some people suggest that limiting cards can resolve this problem In this essay I will give my opinion on this matter and some appropiate solutionsWhen the banks retrict issue the amount of credit card on each individual this can effect to some extend Because if you have a credit card you must pay annual fees for a bank to manage your card It means that the more credit cards you own the more charges you must pay per month regardless of using or not As a result you are will be tempted to more debt on those unused cards Moreover applying too much cards enable you find difficulties to control your debt because it is hard to remember all payments that you made each account in a month Therefore you may not prepare a suitable spending plan for your own and settle the debts as wellOn the contrary each card meet a different need depending on cardholders purpose For instance if you spend on a lot of gas and dinning you could look for card that will reward you for each type of expense For that reason payers could have benefit when using more than one card In other side banks could have more profits from issusing cards for customersIn my opinion credit cards problem should be resolved by both borrowers and lenders To cardholders they should have statergies on payment to avoid overspending out of their income Futhermore they need to be able to track their credits including payment dates fees and charges they have made It is much easier to manage their credit cards when they have only few of them To banks they should calculate carefully base on borrowers income before issusing a card They also may give a maximum amount for an account By this
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