IELTS Band 9 Essay: Should Young People Have Easy Access to Credit Cards?

Essay Question

Nowadays, it is easier for young people to have a credit card compared to the past. Do the advantages of this trend outweigh the disadvantages?

Essay Question

Nowadays, it is easier for young people to have a credit card compared to the past. Do the advantages of this trend outweigh the disadvantages?

Sample Answer

In today’s consumer driven society, it has become increasingly easy for young people to obtain credit cards, a trend that differs significantly from the past when financial institutions were more cautious in offering credit to this demographic. While this shift offers notable advantages, it also brings with it certain risks. This essay will examine both sides of the issue before concluding whether the benefits outweigh the drawbacks.

On the one hand, easier access to credit cards provides young people with greater financial flexibility and independence. It allows them to manage unexpected expenses, build a credit history early, and gain experience in handling finances responsibly. This can be particularly useful for students who may need to cover costs related to education, transportation, or emergencies. Moreover, when used wisely, credit cards offer benefits such as cashback, travel rewards, and fraud protection, making them a convenient financial tool.

However, the downsides of this trend cannot be overlooked. Young individuals often lack the financial literacy and discipline required to manage credit responsibly. This can lead to overspending, debt accumulation, and long term financial difficulties. High interest rates and late payment fees can trap inexperienced users in a cycle of debt. In addition, the ease of accessing credit might encourage impulsive purchases, which can harm not only personal finances but also foster unhealthy consumer habits.

In my opinion, while the disadvantages are real and concerning, they can largely be mitigated through education and responsible lending practices. If young people are taught how to manage credit wisely either through school curricula or parental guidance the advantages of credit card ownership can outweigh the risks. Additionally, banks and financial institutions should implement safeguards, such as lower credit limits and spending alerts, to protect young users from falling into debt.

In conclusion, although there are clear risks associated with easy access to credit cards for young people, the potential benefits in terms of financial empowerment and convenience are significant. With the right support and education, the advantages can indeed outweigh the disadvantages.

Sample Answer

In today’s consumer driven society, it has become increasingly easy for young people to obtain credit cards, a trend that differs significantly from the past when financial institutions were more cautious in offering credit to this demographic. While this shift offers notable advantages, it also brings with it certain risks. This essay will examine both sides of the issue before concluding whether the benefits outweigh the drawbacks.

On the one hand, easier access to credit cards provides young people with greater financial flexibility and independence. It allows them to manage unexpected expenses, build a credit history early, and gain experience in handling finances responsibly. This can be particularly useful for students who may need to cover costs related to education, transportation, or emergencies. Moreover, when used wisely, credit cards offer benefits such as cashback, travel rewards, and fraud protection, making them a convenient financial tool.

However, the downsides of this trend cannot be overlooked. Young individuals often lack the financial literacy and discipline required to manage credit responsibly. This can lead to overspending, debt accumulation, and long term financial difficulties. High interest rates and late payment fees can trap inexperienced users in a cycle of debt. In addition, the ease of accessing credit might encourage impulsive purchases, which can harm not only personal finances but also foster unhealthy consumer habits.

In my opinion, while the disadvantages are real and concerning, they can largely be mitigated through education and responsible lending practices. If young people are taught how to manage credit wisely either through school curricula or parental guidance the advantages of credit card ownership can outweigh the risks. Additionally, banks and financial institutions should implement safeguards, such as lower credit limits and spending alerts, to protect young users from falling into debt.

In conclusion, although there are clear risks associated with easy access to credit cards for young people, the potential benefits in terms of financial empowerment and convenience are significant. With the right support and education, the advantages can indeed outweigh the disadvantages.