if the ole banjo cord (or frenulum as it's known) tears it would be mighty painful!
that's probably one of the parts with the most nerve endings on your entire body

but it's not likely to give you a problem, just use it as nature intended

some guys have problems with having a frenulum that's too short, which can get stressed during retraction and occasionaly can get injured, and there are extreme cases where some doctors recommend surgery to modify it to fit better
( but not circumcision)