That's not really an option in the US. So to once and for all address your main point:

1. Yes, the US system overall is less than ideal. Banks could take initiative to simplify the system and the consumers probably should demand that they do.

2. American consumers are not somehow more stupid than people elsewhere. Introduce the same incentives elsewhere and people will follow the same pattern. The only reason other countries seem not to get into as much personal debt is mostly because loans are not as widely available and ones that are cost much more. In the US this used to be the case during the majority of the 20th century. Since relatively cheap credit became available, americans started taking advantage of it. This has nothing to do with whether they are smart or stupid.