Credit card offers come in the mail on a continual basis. If you have not received one, or many of these offers, it must mean you don’t have a mailing address. With it being so easy to obtain them, this leads us to the question, “Should Christians have and use credit cards?”
Credit Cards Can Be Good
When used wisely, a credit card has its benefits. Many cards allow you to earn cash back / rewards on your purchases. You must remember to pay off your balance on the card every month or the interests you wind up paying will be more than any cash back amounts or rewards that you might have received.
Credit cards are also good to have on hand in case of an emergency. There’s nothing like being on vacation and finding out your debit card has been compromised. Having a credit card at that moment to at least be able to get back home can make a bad situation a little more bearable.
A credit card can be a good way to help build up your credit score as long as it is used wisely. By making a few small purchases with your card and then paying off the balance every month, many people have used this method to help them obtain a high credit score.
Having A Credit Card Can Also Be Very Bad
The problem with credit cards is the bad can far outweigh the good in the hands of someone who is financially unwise. You wouldn’t have to ask around very long before coming across someone who has credit card debt. Any one who has been in a situation where they have had high credit card debt can tell you it’s no fun making minimum payments every month that barely makes a dent in the overall balance that is owed. You can see why the Bible says the borrower is slave to the lender (Proverbs 22:7).
This is how the credit card companies make their money. You can buy now and pay later. You buy too much and then can’t afford to pay off your balance at the end of the month. Therefore you only make the minimum payment, and they charge you a very high interest rate on your balance. Good for the credit card company, bad for you.
The Bible doesn’t leave a lot of wiggle room for people who purposely create debt and do not repay it. (Psalm 37:21) says the wicked borrow and do not repay. This means it is not an option for a Christian to run up high balances on credit cards and not repay it. Obviously it would be better not to even have a credit card if the temptation to buy things you can’t currently afford is too great for an individual. The desire to have and want things above and beyond what God has already provided can create unnecessary financial heartache.
(Hebrews 13:5) Keep your lives free from the love of money and be content with what you have, because God has said, “Never will I leave you; never will I forsake you.”
A credit card can be a great tool in the hands of the financially wise, but a nightmare for those who use them unwisely.
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