I recently had the pleasure of helping four people with the decision to cut up their credit cards. Each one of them said they knew of the dangers of using credit cards, yet each of them had kept them for one reason or another.
Tell me you haven’t heard these excuses for keeping the plastic crutches before:
• I need it in case of an emergency
• Debit cards are not safe
• You need one to travel
• I need credit cards to build my FICO score
Relying on Him with my finances
I realized that God frowned upon me using debt products and that I could rely on Him for more than just my eternal salvation (extreme sarcasm implied here). My trust is in the Lord and I know He will help me through any trials and tribulations that come my way. God is my provider, not Providian (which, incidentally, was sold to Washington Mutual in 2005, which then filed for bankruptcy in 2009).
He has given me the air that I breathe, the ability to earn a living, and the promise of eternal life. He has also placed me in a country where the necessities of life – food, shelter, clothing – can be obtained easily. Even homeless people have shelters and food pantries, what needs do I have that can’t be met?
Cutting my dependency Line of Credit
Credit cards are debt – even if I pay them off every month. Proverbs 22:7 says “The rich rules over the poor and the borrower is slave to the lender”. Yes, that means we are in bondage even if we pay off the balance every 30 days.
If I can exist in this world then why would I want to tie myself in bondage to a financial institution because I can earn a few points and they promise me a happier life if I just use their credit card? I’ve got much better things to do.
What have I got to lose?
Seriously? Why not cut up all your credit cards for 90 days and pay for all your stuff with online bill pay, debit cards and cash? Don’t worry, your mailbox will be filled with new credit card offers and chances for you to go back into debt.
When you are paying more attention to your money then you discover that you are spending less and paying less interest. Take the money you aren’t spending and put it into an emergency fund. Only spend it on emergencies!
Continue to live without credit cards by using your debit cards. They have the exact same protections as credit cards (Visa says so), and only a handful of car rental counters won’t take debit cards. They won’t get you into debt and God doesn’t want you to get return from the beaches of Florida with a chain of credit card statements behind you.
I’ve also learned that using credit cards to build a credit score is like reading a how-to book on becoming an alcoholic. Practicing my money-borrowing skills so I have a better opportunity to borrow more money? That’s just ridiculous.
To learn about credit score alternatives for mortgages, listen to the benefits of using your cell phone bill and rent to prove your credit worthiness.
My money is good, honorable, and pleasing to the Lord. Would you please join me in cutting up your credit cards and step out of bondage and into faith?