Does God approve credit cards?

It’s hard to think of any program that has better incentives than credit cards. From free airline miles to cash back rewards on purchases, signing up for a credit card is almost a no brainer – or is it? Credit cards are a good example of the saying “not all that glitters is gold.” Once you get over the initial excitement of the sign-up bonus, you will start dealing with the reality of accumulating debt. Unfortunately, most people don’t realize how much of a hole they have dug themselves into until it is too late.

But what does the Bible say about credit cards?  And is it wrong for a Christian to apply for a credit card? These are important questions to consider. Credit cards were invented long after the Bible had been written so obviously, you won’t find a direct reference to them in the scriptures. However, credit is as old as human civilization and the Bible has more than enough to say on the topic. And based on what God says on debt, it is clear he doesn’t want his children to be in financial bondage. Here are some of the important biblical reasons why God doesn’t approve of credit cards.

Credit cards lead to financial bondage

God doesn’t want you to be in debt because he doesn’t want you to be in bondage. He believes so much in your freedom that he sent his only begotten son to die on the cross for your freedom. Most Christians assume that the only freedom that was bought at Calvary by the blood of Jesus is freedom from sin. But the cross also delivered you from financial bondage. Check it out; For you know the grace of our Lord Jesus Christ, that though he was rich, yet for your sake, he became poor, so that you through his poverty might become rich. 2 Cor. 8:9, NIV

So what do credit cards have to do with financial bondage? Well, if you buy anything on credit, you don’t own it – your lender does. For instance, even after you buy your house, you don’t own the house until you finish paying the mortgage. That explains why the banks repossessed so many houses when the real estate bubble burst some years back. Solomon puts it this way; The rich ruleth over the poor, and the borrower is servant to the lender Prov. 22:2, KJV

As long as you are in debt, you will always be a slave to your lender. And it is not God’s desire for any of his children to be in slavery.

Debt is a curse

Debt is not a blessing – it is a curse. One of the characteristics of the blessing is having more than enough. Someone that has more than enough will have no reason for borrowing. They will only be thinking of sharing what they already have with those in need. And the problem with the curse of debt is it is a vicious cycle. Debt will take away your disposable income and you will end up relying on your credit card for necessities. People who are in debt tend to get into even bigger debt and the cycle goes on and on.

After being in slavery for four centuries, Israel was finally delivered and taken to the promised land. One of the instructions that God gave to Israel just before they got into the land of promise was to avoid getting into debt. The Lord shall open unto thee His good treasure, the heaven to give the rain unto thy land in his season, and to bless all the work of thine hand; and thou shalt lend unto many nations, and thou shalt not borrow. Deuteronomy 28:12

But to put it more precisely – it was more of a promise than a command. God was promising them that as long as they walked according to his commands, he would bless them and make them lenders instead of borrowers.

Credit cards promote greed

Greed is the fuel of the credit economy. Without greed, credit card companies would simply collapse. But since man is so susceptible to greed, these companies know that if they place a card in your hard, you will ultimately use it to buy things you can’t afford. Then they will reap big by charging you the monthly interests that will accrue on the late payments. If you were to only rely on cash, you would never spend money you don’t have. This will instantly reduce or even eliminate unnecessary impulse purchases. Jesus warned his disciples about covetousness by reminding them that they shouldn’t base their value on their possessions.

And he said to them, “Take care, and be on your guard against all covetousness, for one’s life does not consist in the abundance of his possessions.” Luke 12:15. Credit cards will put you in this exact trap – you will want to accumulate things you can’t afford right away just because you can afford the monthly payments. You will not know how or when to say no to stuff. Christians shouldn’t live this way. You should have self-control and you should be able to say no to stuff that is out of your means.  You shouldn’t allow greed to control your expenditure because if you do, you will be serving mammon instead of serving God.

What’s the way forward?

In Mathew 6:33, Jesus taught on the importance of putting God first, and then everything else would just fall into place. Putting God’s kingdom first starts with putting him first in your finances. Christians should be faithful givers not just to help expand the kingdom of God but also as an obedience to God’s command. Every kingdom has laws by which it operates and one of the laws of God’s kingdom is the law of sowing and reaping. Unfortunately, it becomes quite hard to be a good giver when you don’t have any money, to begin with. That is why every Christian should avoid applying for credit cards.

If you are already in credit card debt, the Bible says God will overlook what you did in times of ignorance but afterward, he will expect you to change your ways (Acts 17:30-31). So, stop getting deeper into debt by cutting down on unnecessary expenses and concentrate on paying off your debt. The rule of thumb is if you are already in a hole, stop digging. With some sacrifice, discipline, and God’s help, you will get free again then you will be ready to start on a new slate.