Explain why buying things on credit was not common prior to 1917

The motive why the use of credit was unusual prior to 1917 because it had not ever been permissible for lenders to control interest rates with high sufficient to create a revenue and offering money was unprofitable. Offering money to others was not a money making business and only wealthy people might get personal credits. Deprived of the opportunity of profit, lending money to the middle and lower class was not value the threat. Small time loan sharks which are people who offered loans at extremely high interest rates which was an illegal activity at that time existed for people in desperate financial positions but they were shady operations on the fringes of society. Credit laws were relaxed in an attempt to create a mainstream, profitable alternative to loan sharks for the working class. Installment credit which is a type of credit that has a fixed number of payments, also known as revolving credit and legalized personal loans became big business.