People going bankrupt through credit abuse is a separate issue from learning how to technically use such instruments. Many know how to "properly" use it, but have a weakness where the only solution may be to impose limitations. Many others are taken in by misleading tactics. Fine grained digital approaches can help those situations.
It is partially how you look at it. I want information systems to become coherent á la the semantic web, but in a specifically user-specific way (which is one of the ideas of Solid). I think that well defined digital credentials are an opportunity to give people a better view of the information they hold, and to enable ways to make issuers more accountable with a fine grained approach; eg evaluable axioms per credential fashioned after "law as code" approaches. This could be connected to a neuro-symbolic AI so the user can discuss scenarios outside transactions. Especially with an increase in inter-related credentials, that will make it easier to manage and less of a separate world that some institutions and companies control, which I think is incredibly valuable. Some of these ideas aren't possible yet, but we aren't going to get there by continuing to produce grey goo systems.
While credit has harmed some people (which is regrettable and should be resolved) it has enabled the vast majority of users to build better lives past other forms of capital. With digital systems and well defined data, the user can walk through clear, directly relevant, and private scenarios of what their next action will yield, without any dependency on a particular provider. But only if there is a forceful move to coherent data.