They could buy all the cars and oversized Christmas tree ornaments they wanted, unless they happened to run up an unpayable credit card bill in the process.
The new system should target the detrimental effects of moneylending by freeing borrowers from high interest rates and any pressures or legal requirements to repay loans.
According to the history. com website, at New Year-which they celebrated in mid-March-Babylonians made promises to the gods to pay their debts and return any objects they had borrowed.
There is a risk that credit will be extended to you in a situation where you're not likely to be able to repay and that's not good either for the issuer of the credit or for the consumer.