by Eric J. Ellman | Aug 8, 2019
The origin of credit dates all the way back to ancient civilizations. The Sumerians and later the Babylonians both used consumer loans in their societies, primarily for agricultural purposes. The latter civilization even had rules about maximum lending rates engraved...
by Eric J. Ellman | Aug 29, 2017
Consumer credit may seem like a fairly new invention – but it’s actually been around for more than 5,000 years! In fact, many millennia before the credit score became ubiquitous, there is historical evidence that cultures around the world were borrowing for various...
by Eric J. Ellman | Apr 12, 2016
Today, credit cards are one of the most important sources of big bank profits. However, a look at the history of credit cards shows that things weren’t always that way.
