Back to learn
A brief history of lending through the ages
Rounding it up
The practice of lending has been around for thousands of years, with the first instances tracking back to Ancient Mesopotamia.
Lending at interest was a point of contention when ethics and religion had closer relevance to state laws and culture, particularly during the Middle Ages.
Lending also played a large role in 1800s America, as it encouraged working-class citizens to become financially stable through savings and home ownership.
For centuries, your ability to borrow was based on your spoken reputation and character, but has since evolved to be dependent on computerized credit scores.
Chrissy Kapralos
Chrissy is a freelance writer and editor who is passionate about making financial education accessible. She is also a communications advisor for the Ontario Ministry of Energy, Northern Development and Mines. When she isn't writing, you can find her practicing yoga or watching horror movies.
Recent Articles
Upcoming trip? Here's why you should use a prepaid Visa card for travel purchases
Do I need renter's insurance in Canada?
How much should Canadians save for retirement?
What is value added tax? Is there VAT in Canada?
Is it more expensive to live in Canada or the US?
Should I keep accounts at multiple banks?
Related articles
Can a non-resident get a credit card in Canada?
5 mins
Dan BuchererNon-residents and newcomers can get a credit card in Canada. Make sure you know that’s what you want before signing the dotted line!
Can a non-resident get a credit card in Canada?
5 mins
Dan Bucherer
Non-residents and newcomers can get a credit card in Canada. Make sure you know that’s what you want before signing the dotted line!
#credit
#credit card
#newcomer
#immigration
How can I buy a house with no down payment in Canada?
6 mins
Dan BuchererZero down payment mortgages sound too good to be true because they often are. Learn why this option may be more trouble than they’re worth.
How can I buy a house with no down payment in Canada?
6 mins
Dan Bucherer
Zero down payment mortgages sound too good to be true because they often are. Learn why this option may be more trouble than they’re worth.
#mortgage
#down payment
#home ownership
#loan
What credit score do new Canadians start with?
8 mins
Jennifer WekslerMoving to Canada? Here are a few easy tips to help you establish and build credit from scratch.
What credit score do new Canadians start with?
8 mins
Jennifer Weksler
Moving to Canada? Here are a few easy tips to help you establish and build credit from scratch.
#newcomer
#credit
#credit history
#immigration
What should new Canadian residents look for in a credit card?
5 mins
Ryan SeveranceFinding the right credit card for you is never easy. Here’s what you should look for when signing up for your first Canadian credit card.
What should new Canadian residents look for in a credit card?
5 mins
Ryan Severance
Finding the right credit card for you is never easy. Here’s what you should look for when signing up for your first Canadian credit card.
#newcomer
#credit
#credit card
#immigration
Does your credit score matter for Canadian immigration?
6 mins
Ryan SeveranceCredit scores and the Canadian immigration process—what’s the deal? Read up on Canadian credit before making the move to the Great North.
Does your credit score matter for Canadian immigration?
6 mins
Ryan Severance
Credit scores and the Canadian immigration process—what’s the deal? Read up on Canadian credit before making the move to the Great North.
#newcomer
#credit
#credit score
#immigration
Should new Canadian residents get a debit or credit card?
9 mins
Gaby PilsonCredit and debit cards are powerful tools for new Canadian residents. Read on to find out which option is best for you.
Should new Canadian residents get a debit or credit card?
9 mins
Gaby Pilson
Credit and debit cards are powerful tools for new Canadian residents. Read on to find out which option is best for you.
#credit
#credit cards
#debit
#newcomer