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How do credit and interest in form of a modern credit card

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Assignment

• How do credit and interest, in the form of a modern credit card, compare with the early forms of credit and interest you saw in the medieval Italian banks? What is the same? What is different?

• In order to give any kind of loan - be it a small business loan, credit card, home equity loan, etc. - the lender has to determine the borrower's ability to repay the loan, or creditworthiness. Throughout history, money-lenders and banks have established different criteria for determining a borrower's creditworthiness. Can you come up with some examples of what criteria you think medieval banks would have used to establish creditworthiness.

Ferguson, N. (2009). The ascent of money [Video file]. Retrieved from https://www.youtube.com/watch?v=fsrtB5lp60s

Requirements: Only needs to be one page. (500 words).

Reference no: EM131524196

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