An Increasing Number Of People Use The Credit Card | Band 8 IELTS Essay Sample

There is an increasing number of people using the credit card which seems likely to replace the coins and notes in the future. Do you think it is a positive or negative development?

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Band 8 IELTS essay sample

It is observed that the number of credit card users has increased rapidly in recent times. Therefore, it appears to many people that coins and paper money will be replaced by the plastic money in the foreseeable future. In my opinion, the merits and demerits of credit card usage are in the hand of users. In my opinion, the increase in the access to credit cards can be positive or negative depending upon how they are used.

To commence with, the prime benefit of using a credit card is that it provides financial back up in emergency cases such as a health scare and job loss. If an individual needs monetary support instantly then the credit card service is a huge relief to them because it provides money without any additional paperwork. For instance, during a medical treatment, if a patient has to go through urgent surgery which requires an exorbitant amount of money then the patient can pay the medical bills by using a credit card. Thus, it is obvious that credit card usage is a positive development.

On the contrary, credit card users are often in deficit due to overspending. As the credit card provides instant money to the cardholder, they can purchase products and avail of services which are out of their budget. Eventually, they may end up with a huge debt which needs to be paid on time; otherwise they will have to pay penalties for late payment. Thus, it is evident that credit cards do have a negative impact on people’s finances.

To conclude, a credit card is in demand because of its easy and convenient use. In my opinion, access to a credit card can be a positive development as long as one uses it responsibly.

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