Mega Infographic Reveals The Amazing History of Credit

- by Kelly Richards
Mega-Infographic Reveals The Amazing History of Credit. From Ancient Temples to Online Payday Loans.

October 12, 2015 12:00 AM Eastern Daylight Time LONDON–(BUSINESS WIRE)–Mega-infographic produced by CashFloat, a trading style of Western Circle Ltd (WCL), reveals the amazing history of credit, from ancient temples to online payday loans.

From the ancient loaning method of Hawala through to the online payday loans of today, loaning methods and banking systems have undergone many drastic changes. The earliest forms of banking were actually ancient temples, where merchants would leave their goods for safekeeping. Banks then developed into large institutions that catered for the wealthy, upper-class members of society, which left most citizens unable to open accounts or take out loans. It has been only in the last fifty years that banking institutions have become what they are today, open to all parts of society, enabling millions of people to open accounts and borrow money. However, too much lending led to a sudden collapse of the banking systems, which became known as the credit crunch, the effects of which are still being felt in today’s economy.

“Loaning is now needed more than ever, with online payday loan companies helping over two million people in the UK to tide them over until their next wage from work” said Jeremy Lloyd, Managing Director at WCL.

With the new mega-infographic people can scroll through hundred years of credit and get the wider perspective of this complex market segment. The Grand History Of Credit mega-infographic can be found here.

Do you know someone who could benefit from this article?
About The Author
Kelly Richards
Kelly is the founder of the Cashfloat blog and has been working tirelessly to produce interesting and informative articles for UK consumers since the blog's creation. Kelly's passion is travelling.
We work hard to provide useful and practical information on our website. Read our editorial policy.
Need £300 - £1,500 today?
Try our famous UK Payday Loans

Warning: Late repayment can cause you serious money problems. For help, go to

Need money today? Apply now for our fast payday loans.
Blog disclaimer

We do all we can to bring you interesting, practical and valuable information. However, please understand the following:

Information and data on this blog are for information purposes only. While we work hard to ensure it is accurate, we cannot accept responsibility for the accuracy, completeness, suitability or validity of any information provided on the blog. We will not be liable for any errors, omissions, losses, injuries or damages arising from its display or use. All information is provided with no warranties and confers no rights.

If you feel that any of the information published on our blog is not accurate, please notify us via email at

Cashfloat is a trading style of Western Circle Limited - Company Registration Number: 7581337. We are fully authorised and regulated by The Financial Conduct Authority. FCA full permission license: 714479. ICO Registration Number: Z3305234

* Cashfloat terms and conditions apply. Applicants must be 18 or over. All loans are subject to affordability, applicant verification and traditional credit checks via various national databases by Cashfloat responsible lending policy. In most cases, loan decisions may take up to 30 minutes during office working hours. If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 16:30.

*Money will be funded to your bank within 1 hour of approval - Mon-Fri during working hours.

Representative example: Borrow £700 for 6 months. 1st monthly repayment of £168.45, 4 monthly repayments of £224.60, last monthly repayment of £112.20. Total repayment £1,179.05. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74% Our APR includes all applicable fees. Daily interest is capped at 0.798%.

Warning: Late repayment can cause you serious money problems. For help, go to